Avoid Constantly Discussing Costs
By constantly discussing your costs, you are invariably training prospects to focus on them. It teaches prospects to learn the cost of everything, but the value of nothing. --Scott Schutte
By constantly discussing your costs, you are invariably training prospects to focus on them. It teaches prospects to learn the cost of everything, but the value of nothing. So take the time to point out both the transparent and obscure costs couched within many financial products, rather than the fees you receive. Because some competitors make it difficult for clients to determine product costs, this will help to distinguish your practice, put your prospective client at ease and make him or her more comfortable with your planning process.
-Scott Schutte is vice president of wealth management consulting at Commonwealth Financial Network in Waltham, Mass., in How to Demonstrate Your Value to Boomers
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