September 23, 2016
Getting Clients’ Perspective
I wanted to share a couple recent conversations that I have been involved in – one with a prospective client who met with our team and the other a new client. I asked the prospective client what he thought after his initial meeting with our firm. He indicated he came in with a “bit of a lukewarm” attitude because he “thought ALL financial service companies and people were the same.” His comments afterward were insightful so I thought I‘d share some them here. His first comment was that he felt very comfortable with our team. When I asked why, he indicated that he didn’t feel we talked down to him or make him feel financially incompetent as other “financial professionals” had. He also said that we took the time to understand him as a person, not solely a function of his money. Finally, he said he could see himself working with us for a “very long time” because we could help him with all his financial issues. Wow! That really made me feel good.
Then I had a lunch meeting with a relatively new client. I asked how it was going thus far (he’s been a client for a 6 months). It was gratifying to hear his praise of our company, our services, and our team. I probed a little deeper about what he felt he needed and why he was so pleased and I wanted to share some of those thoughts as well.
In the past, the information that he received was too general. He had a meeting with his company’s 401k provider and their advice was to put more in the 401k and start setting “some money” aside for his kids’ college funds. He said it was analogous to asking a doctor how to be more healthy and them responding, “Eat less and exercise more.” More detail is needed.
The second component was having decision support tools that really help and save time. One of his priorities is college funding. We showed him anticipated college costs when his kids get there for multiple schools and projected savings per month to accomplish that goal. His response was that it would’ve taken him and his wife an inordinate amount of time to do the same research, while probably not completing it due to its overwhelming nature.
Thirdly, having resources that are knowledgeable. We don’t have all the answers but we have heard most of the questions and have researched them for other clients.
Lastly, he feels that he needs to focus on his job and career and doesn’t feel he has the time or skills to truly focus on his family’s finances. If you find yourself in a similar position, we would be happy to assist you as well.
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