Think about the last major purchase you made – whether it was a new car, a vacation or a computer – and ask yourself this question: “Did the experience and/or the product leave you satisfied, or completely satisfied?”
It would stand to reason that if you are completely satisfied, that all your expectations have been met – you are content, happy, and fulfilled.
Have you ever asked your clients if they are completely satisfied? What do you think their response would be? It would certainly be well worth your while to ask, for a number of reasons.
First, by asking such a question, you are opening the door for direct feedback that can lead to a more in-depth conversation with them than you might normally have. It can then lead to discussions about what they like and don’t like about the services you provide, and better yet – why or why they are not referring you new business. If they are currently referring new clients to you, ask them what they are saying about you. If they are not a good referral source, you can now offer suggestions on how they can make referrals to you. Either way you win. Knowledge is key.
One way to make sure your affluent clients are completely satisfied is to promote the “Family Values” discussion. While most advisors initially talk with their clients about their values, goals, and of course an estate plan – few actually have the time or the expertise to completely satisfy their needs. By bringing on board a Certified Wealth Consultant that can guide the discovery process, you are paving the way toward being a truly trusted advisor with completely satisfied clients, connecting them to a deeper understanding of what they value. This is a key to your long term success and client referrals.
I recently heard Bill Eck, a CWC with True North Connections, speak about this engaging subject. Eck said, “This guided discovery process, or Generational Wealth Planning, not only strengthens family communications, but builds family unity and trust among family members, while connecting them to what matters most for long term family significance and wealth preservation.”
He helps individuals and families discover their values by asking the right questions – and as he states, “then they own it.” He guarantees that they will discover something they didn’t even know they valued, and it is very rarely ever about money. This process also engages children, grandchildren, and future generations with the responsibilities and competencies of family wealth and family stewardship.
This process is handled in two phases. The first is Guided Discovery, which includes the creation of a family vision statement. Then comes the Implementation phase, which includes family retreats and family councils.
Offering your affluent clients an introduction to an experienced CWC is important, but it is especially important to speak directly to the women sitting at the table. Consider that on average, women live seven to 10 years longer than men, and 60 percent of America’s wealth is controlled by women. And completely satisfied women can turn into completely positive referrals.