Last week, in the first in my series of 3 Steps to Selecting the Right Financial Advisor: An Advisor’s Perspective, we discussed the process of selecting an advisor. Why would this be important to advisors? Maybe they’ll see you as someone who is truly interested in helping them make the right decision. And that is preferable to being viewed as someone who is just trying to sell them.
What do most advisors have in common when they meet with a prospective client? Most are trying to convince the person to hire them. It’s like an old saying I heard years ago: “The farmer doesn’t want all the land, he just wants the land that borders his.” We may not want to convert every prospect to a client, we just want to convert the next one. I’ll let you think about that.
The truth is, not every client is a good fit for every advisor. The right match depends on a number of factors, including personality types, qualifications, areas of specialty, and more. This week, I’d like to extend the conversation and discuss personalities.
Two Client Personalities: The Driver and the Analytic
It’s been said that oil and water don’t mix. The same goes with a Driver and an Analytical personality. Using these two as an example, a Driver-type personality likes to make quick decisions. An Analytical likes to take their time. They like to move slowly, methodically, cautiously, to avoid errors. And yes, they do tend to avoid many of the pitfalls into which other personalities fall.