Avoid talking big to prospects
The gazillion-dollar come-on may inspire suspicion and doubt in the client rather than confidence and admiration. -Michael B. Horwitz, Ph.D.
Allow me to dissect financial adviser come-ons that can come across to clients as put-offs:
"I manage a gazillion dollars." Come-On: If the "Let me tell you" adviser leads with brains (or at least verbosity), then this adviser leads with brawn. Intending to impress the client with the sheer magnitude of dollars handled, the adviser also believes that the client would be inclined to trust an adviser who has been entrusted by other people with so much money.
Put-Off: "I will be too busy taking care of the big accounts to pay much attention to your nest egg." In fact, the gazillion-dollar come-on may inspire suspicion and doubt in the client rather than confidence and admiration."My account will be lost in the shuffle" is the client's unexpressed fear.
-Michael B. Horwitz, Ph.D., CFP, owns Life Strategies Financial Planning, in Put-Offs and Come-Ons
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