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Financial Planning > Behavioral Finance

Getting seniors to call

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One of the best ways to begin attracting more ideal senior clients is to become known as a financial expert who is “senior-friendly.”

While there is certainly no shortage of financial advisors for seniors to choose from today, I have discovered that there are few advisors skilled at truly connecting with seniors. Some of the smartest financial advisors I know are simply dying on the vine because they have yet to realize that being a successful financial advisor is more than just bean-counting. It’s about building instant, yet long-lasting rapport that causes seniors to easily relate to you and begin to trust you.

For just a moment, think about a great experience you’ve had recently with a service provider. Remember how the entire process went smoothly and you were made to feel very special and appreciated. That’s the exact feeling you must strive for in each of your interactions with senior clients. Once the word is out that you understand the needs and concerns of this growing market, the referrals will kick into high gear. While many top producers report that getting seniors to give you referrals can be harder than working with younger clients, once that trust is earned, they will readily recommend you with glowing regard.

5 action steps to get started

Step 1: Focus on relationships. As soon as a senior client steps into your office, begin asking about his family. How long has he been married? Does he have grandchildren? Where do they live? What are things he likes to do with his grandchildren? Tell him about your family. You should have lots of pictures of your family and children/grandchildren throughout your office.

Step 2: Ask about past decisions. Ask him what financial decisions he made in the past he is most proud of and which ones he wishes he could do over. Ask how he likes to make decisions – does one spouse pull the financial trigger or do they like to use a team approach?

Step 3: Find out his biggest concern. Ask him, “What would be the greatest service I could provide for you?” His answer will help drill down to what specifically caused him to call your office in the first place. This information lets you know precisely what you must do to win his business.

Step 4: Custom-tailor the discussion. No cookie-cutter conversations are allowed with a senior. If he used to own a business, describe how managing his portfolio is like running a successful business. Whatever his occupation was (or still is), speak in the language he will quickly understand. Leave the financial jargon at the door.

Step 5: Team up. Let him know that your job is to work as a partner with him in helping achieve his goals. Say something like, “I’ll be there to walk with you down life’s financial road to help you afford the things you’ve always dreamed about doing.”

Tomorrow morning, begin applying these proven steps and you’ll start having more seniors calling your office.


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