10 Simple Phrases That Wow Any New Client

2. “I plan on being here a long time.”

Here’s another familiar story: The waiter at a New York or Los Angeles restaurant who explains they are actually an actor, waiting for their first big break. Working as a waiter is temporary until they get something better. Many wealthy people go through life building long-term relationships with people they trust. They aren’t that concerned with getting the cheapest price, but they want someone who will do a good job for years and years.

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3. “You’ve made a good decision.”

Sometimes people think: “OK, I’ll give this guy a chance.” That’s not a ringing expression of confidence. There’s hesitancy. You want to provide reinforcement. You learned a lot about them and their goals. Repeat back how the steps they’ve taken today put them on the right path, help get them towards their goals. This is also important if they need to explain what they did to their spouse at home.

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4. “Here’s what you can expect going forward.”

Every firm is somehow different. Will they get paperwork in the mail? Confirmations by phone? How will statements arrive? When will they hear from you again? What’s your suggestion for the periodic review schedule? This reduces worries that you will be out of the picture once the check clears.

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5. “Here’s how we get paid.”

Some advisors feel the client knows you don’t work for free. Others think talking about costs is tawdry or awkward. Clients want to know! Rich people often stay rich by going into situations with their eyes open. If you don’t tell them, someone else will.

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6. “Tell me more.”

Draw them out. Listen. People like talking about themselves. Most enjoy being the center of attention. You learn what’s important to them. You can pick up clues about relationships within the family. The more you know about the client and their dreams, the more you can tailor the proposal to their needs.

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7. “Let’s bring your spouse into the conversation.”

It’s tempting to focus on the decision maker. The spouse might even say: “They handle all that stuff.” In reality, they don’t want to be treated as an accessory. They deserve respect. Ask their opinion during the presentation. Properly done, it can gain you an ally. If the spouse takes a dislike to you, they can make the decision maker’s life difficult.

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8. “You deserve a report card.”

If I’m not doing a good job, you should be able to fire me. It’s a favorite expression of mine, especially when I worked with friends. OK, maybe you don’t want to raise the possibility things might not work out. You are holding yourself accountable. Clients like accountability. Harry Truman had his famous desk sign “The buck stops here.”

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9. “We help people in other ways, too.”

Years ago, clients had a “stock guy” and “a bond guy.” Maybe there was a woman who was their insurance agent and another was their banker. People fit into silos. The client might feel you’ve done a good job on the stock side. They need to know you can help them in other areas, too. We know a couple who use the words “financial advisor” when describing people, yet they consider their accountant their financial advisor and the FA who recommends stocks as their broker. You want to position yourself as the first person to call when the question involves money.

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10. “Is there anything I’ve missed?”

What else should I know about you? People sometimes have a bad habit. They stop listening when a question comes to mind. You need to give them time to ask it before proceeding. We have questions we ask when gathering information for a financial plan, but it’s often data. We need the personal details, too. We want to know their likes and dislikes. We want them to leave thinking, “She really understand me.”

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