Many advisors fail to differentiate an investor from the person who is investing. This is a mistake that many salespeople, even institutions, make on a regular basis. While it is important to understand a client’s current situation, future goals, variable that might impact both and many other facets, the most important question to ask a prospective client is: “How can I help you, today?” Some successful advisors will ask prospective clients “What brought you into our office, today?” Both versions of this question ask, directly, about the act of finding an advisor.
There is plenty of time to get to know the investor, one of the most important aspects of a successful client-investor relationship. However, without knowing the reason that a client came in seeking an advisor, all other questions might not matter in the long run.
For more on the sales process and avoiding mistakes, see our new article tomorrow.