What Advisors Don’t Understand About Prospects
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Few of us realize the anxiety-ridden mindset that drives prospects to seek a financial advisor. If they did, they would structure their initial meetings very differently.
Consider my experience when I recently addressed a group of car salespeople at a high-end dealership. I asked them this question: “What’s the mindset of car buyers when they enter the showroom?”
They all agreed it was a combination of anxiety, dread and fear.
I then asked this question: “Are you ever in a situation where you feel the same way?” The answers ranged from going to the dentist to, oddly, buying a car.
My next question was: “When you are highly anxious and fearful, what do you find most comforting?”
Everyone agreed it was someone who acknowledged their feelings and understood what they were experiencing.
Finally, I asked them to raise their hand if they tried to behave that way when dealing with new car buyers. Only a couple of hands went up.