They expect good numbers and exceptional service. Give them more.
No one told you. Through all that training, the certifications and licenses, the subject of human interaction (and all the variables that would entail) never came up. Your analysis, strategic acumen, and track record can stand with the best, but in the end it’s the one-to-one element, the way you connect, the ‘they get it’ factor, that can make or break a client relationship.
Brendan Frazier, founder of Wired Planning and host of The Human Side of Money podcast, recently talked about this issue, and how to address it, with The Flexible Advisor. Recently named a top-100 financial advisor by Investopedia, Frazier helps advisors enhance the trajectory of their businesses through more meaningful client interaction.
The difference between a book of satisfied clients and a book of emotionally connected clients can be the difference between a good practice and a thriving one. But what is an ‘emotional connection’ in the client/advisor context, how do you create one, and what is the benefit?
“You want dive deeper. It’s not just about goals or what keeps them up at night. It’s not about your process or your white glove customer service model. It’s about uncovering their values."
As Frazier explains it: “To satisfy a client, the conversation is fairly straightforward: ‘What's your goal? Perfect. Here's a retirement projection, and here's what you need to save and invest to make that happen.’ To establish an emotional connection, you want dive deeper. It’s not just about goals or what keeps them up at night. It’s not about your process or your white glove customer service model. It’s about uncovering their values. Sharing at that deeper level is what drives emotional connection. Maybe you’ll learn that they don't just want to ‘retire.’ They want to take three months of cooking classes in Italy, then come back and host family and neighbors. Drawing out this kind of detail engages the client on a much more personal level.
Frazier is quick to acknowledge that some advisors already employ a version of some or all of these practices. “It's not a crazy, novel concept. It’s not groundbreaking, If you do this already that’s great, but you can probably do it better. If you don't, it's something you should start doing pretty much tomorrow.”
Access The FULL Podcast
You can access the full discussion on The Flexible Advisor, wherever you get your podcasts.