Focus on relationships, not products
People do business with us based upon how they feel about us, not what they think about the products.
-Lou Cassara, CEO of the Cassara Clinic
People do business with us based upon how they feel about us, not what they think about the products,” Cassara says. A financial advisor could dabble in alchemy and turn lead into gold but if a client doesn’t feel there is a meaningful connection, there’s a very good chance they’ll look elsewhere for similar services. Financial advisors need to see the value, first and foremost, in their connectivity with a client. Cassara says he’s seen far to many advisors spend a prolonged period of time expounding upon the virtues of a product’s performance when they really should be spending that time building up the client relationship. He stresses this last point is even more important during a dour market environment than an up one. Clients who don’t feel the value in their relationship to their financial advisor are much more likely to hop somewhere else during a down market, he advises. So now’s the time to talk about that value.
-Lou Cassara, CEO of the Cassara Clinic, in Tips to Prevent a Dour Market from Affecting Client Relationships
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