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Portfolio > Economy & Markets > Fixed Income

Are you giving prospects your best?

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A few weeks ago, a client of mine, “Bill,” shared one of those stories that validates why we do what we do in this business. I’d like to share it with you today:

Bill was working with a prospective client who had just landed a $2.7 million settlement from a car accident and was looking to squeeze every last penny of income out of it. So Bill sat down with the prospect and walked him through a custom illustration we helped him design, which showed the client how to maximize his income. After the presentation, the prospect asked Bill, “Is this the best you can do?”

Bill met with the prospect four or five times, with each meeting ending with the same question: “Is this the best you can do?” Each time, Bill said, without hesitation, “Yes, this is the best we can do.”

Prior to the first meeting with the prospect, Bill had asked our design team to scour the hundreds of products available and to design a custom income plan that included a three-carrier strategy. After the thorough research that had gone into his proposal, Bill was confident he could maximize his prospect’s income.

At the final meeting, the prospect looked Bill in the eye and asked, “Is this still the best you can do?” Once again, Bill replied, “Yes, this is the best we can do.” The prospect then said, “I’m going to go with you, but I wanted to tell you that I’ve met with three other advisors multiple times. To be honest, some of them were better dressed and spoke more fluently than you. But the reason I’m going with you is because every single time I asked if this was the best you could do, you always brought me back the identical proposal each and every time.

“After I asked that question of the other advisors, they came back a few days later with a new company and new illustrations that were completely different from the ones they had presented before. As the products and numbers changed, I suspected they were selecting products that put their own interests before mine. It was never clear whose retirement they were more concerned about: mine or theirs.

You shot straight in your proposals from the beginning and always had my best interests in mind.”

Wow! What a powerful argument for doing things the right way.

Let’s face it: In today’s suspicious world, where your prospects have access to every piece of information online, not doing business the right way can cost you many a client.

Bill’s prospect was no dummy. He was a savvy shopper out to find an advisor who would not only maximize his income but also keep his best interests at the forefront.

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Brad Johnson is the vice president of marketing for Advisors Excel. For more information, go to


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