Journal of Financial Planning: April 2019
You’ve gotten a meeting with that top prospective client you’ve been trying to connect with for weeks, maybe even a couple of months. Now what? If you’re like many new planners, you’re excited to have finally landed the meeting, but perhaps a little apprehensive about making sure the meeting goes well.
Here are 10 steps you can take to pave the way for a successful introductory conversation:
Do your homework. Google, LinkedIn, Facebook, and other online resources can provide a wealth of information about your prospective client. Keep in mind that you’re not compiling a dossier but simply looking for potential areas to explore—their employment, where they live, their family, organizations they’re part of, and activities they enjoy. It’s even better if you can find some connection points—areas where their background and interests intersect with your own.
Determine the specific result you want to have from the meeting. What do you want your prospective client to think, or more importantly to do, as a result of having met with you? Is your goal that you mutually agree that you’re a good fit? Do you want them to schedule a discovery meeting or send you their financial statements? Be specific. The more clearly you define the desired result of this meeting in your own mind, the more likely you’ll accomplish it.
Create an outline for the meeting. Think about what you believe will be the best approach to achieve your desired result. How do you want to start the conversation, develop the conversation, and then agree on moving forward? A written plan or outline is essential to help you stay on your desired path to a successful outcome.
Confirm the meeting with your prospective client. Send a calendar invitation, and then follow up to confirm your meeting the day before with an email, text, or phone call. Reiterate how much you are looking forward to your time together.
Be intentional about what you take along to the meeting. A notepad is a must. A couple of simple one-pagers (your bio, your differentiators, your process) that support your story can be much more valuable than a slick marketing brochure or research piece. Position yourself as a professional, not a sales person.
Focus on learning about them. Demonstrate a client-first mindset. Ask questions. Listen carefully. Look for connection points. Show genuine interest in their story. The more you learn about your prospective client, the more you will be able to connect your story to theirs.
If they’re not a good fit, be prepared to communicate that. Explain that based on what they’ve shared about themselves and what they need from a financial planner, as well as how you typically serve your clients, you don’t think you’d be a good fit for them (or cost effective for them) at this point. Adding “at this point,” communicates that you’re open to the possibility that their situation could change. Be kind.
Describe what differentiates you. If you believe they are a good fit for you, talk about what sets you apart from other planners and how you think you can help them. Conclude with, “Based on everything you’ve told me about yourself and what you need, and how I typically serve my clients, I think we’d be a good fit to move forward to our discovery process.” Then stop and wait for them to respond.
Establish expectations. Assuming they agree (and why wouldn’t they?), set clear expectations for next steps and gain their agreement. At this point, you should assume that they are very likely on their way toward becoming your clients, so treat them as clients—show them how great it is to be a client of your practice.
Always follow up with a note of thanks. Your note can be handwritten (much more personal) or in email (much faster). Recap the key takeaways from the meeting and confirm your next steps. Let them know that you appreciate the opportunity to serve them.
Everything you say and do communicates a message to your prospective client. Make certain it’s the message you intend.
Susan Kornegay, CFP®, is a partner at Pathfinder Strategic Solutions. She has more than 30 years of experience as a financial adviser, branch manager, and practice management consultant. She is a coach, along with Adam Kornegay, RCC™, in the FPA Coaches Corner.