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How to help put your clients at ease 鈥� and why it matters
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Talking with people about their money, the joys (and realities) of aging, and potential financial shortfalls can be sensitive. But people are generally more comfortable sharing personal details with someone they trust.
Financial professionals who have built strong client relationships may be in a better position to facilitate these conversations. With the information they need, it helps them create financial strategies that can support a client鈥檚 retirement concerns and goals.
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Discover specific ideas in this tip sheet to help your clients feel comfortable.
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Image matters
Are you targeting high wealth clientele or more middle- to upper-class professionals? Are you targeting millennials and Gen Xers to help them get a jump on retirement readiness?
No matter how big or small the details seem, they project an image that can influence the prospects you attract, how clients feel, decisions they make 鈥� and your business.
Did you know?
- It鈥檚 up to to acquire a new customer than retain one.
- There鈥檚 a chance of making a sale to existing clients.
- A 5 percent increase in customer retention .
Sharing first helps foster trust
Do you have a client who鈥檚 having trouble opening up? Sharing something personal about yourself may create enough trust for them to reciprocate.
鈥淚 tell [clients] the story of how I got into [this business] 鈥� to help my parents plan their retirement.鈥�
- Financial Professional
When you鈥檙e working with couples, it may take different approaches to build trust with each person so they鈥檙e both on board with their financial plan. Sometimes that can be easier said than done. Make sure you鈥檙e directing comments and questions to both partners and including both people in decisions.
When each partner feels like you鈥檝e considered their individual perspectives, you鈥檒l help reassure them that you have both of their interests in mind, which can help foster trust and generate loyalty.
Stories have power
As you talk about products, painting a mental picture may resonate better with some clients than just sharing a list of benefits. Even better, telling relatable stories with facts or data to build an and makes information more memorable.
鈥淲hen people are presented with a vision that鈥檚 backed by data and a narrative that stirs their emotions, they鈥檙e moved into action.鈥�
- Source:
It's easier to paint a picture clients can relate to if you know what鈥檚 on their minds. For example, using current facts may help you paint a more meaningful picture for individuals concerned about paying for long-term care in retirement.
What could you say?
鈥淎产辞耻迟 will require long-term care sometime in their lives,鈥� according to Consumer Affairs.
If clients can see themselves or their spouses in the 70 percent, conversations about the cost of care and growth opportunities associated with products that could provide a financial cushion 鈥� like fixed indexed annuities 鈥� may make a stronger impact.
Why client comfort is good business
Helping clients feel comfortable can be nearly as important as the financial guidance you provide. Why? Solid relationships can help prepare your clients for a financially secure retirement, and they also have clear business benefits for you, such as: better client retention, lower acquisition costs and potential client referrals.
The bottom line is choose the method(s) most meaningful for each client to strengthen your connections, create a comfortable environment and build your business. The practical ideas in our can help.
Insights on 麻豆传媒 Connect. Tips, tools and resources to grow your business by helping clients retire with confidence.
