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Picture this; you are one of 4 financial professionals being interviewed by a woman who just inherited 5 million dollars. You have each had your opportunity to make your presentation, you talked about the solutions you would provide, the value of your research, the benefits of your firm and your process for working with clients.
There is a bit of silence as the prospective clients gathers her thoughts and then she says: “I have one final question for each one of you, please tell me why I should do business with you and not the other 3 financial professionals being interviewed?”
The first financial professional responds by saying “Because I’m honest.” The prospect replies “You are supposed to be honest, so why should I select you as my financial professional?”
The second financial professional speaks up “Because I will work hard” … “Well your supposed to work hard”, says the prospect “So why should I do business with you?”
The third financial professionals says “Because I will put your interests first above all else”, showing a bit of frustration the prospect replies “I would expect this of any Financial Professional I work with.”
“Can anyone tell me why I should work with you?”
Finally the fourth financial professional speaks up and says “Because I understand you.” the financial professional continues
“As a woman who was raised in an affluent family I have learned that great wealth can provide freedom and opportunities as well as additional stress and uncertainty. In most cases women of wealth often lack the knowledge and confidence to make important financial decisions on their own. When put in a position to manage this wealth the responsibility can feel overwhelming.
As a professional woman working in a man’s world I have learned that when women experience an environment that is conducive to their style and work with a professional who can communicate with them more effectively, they naturally become more engaged in the process and more interested in making good financial decisions. This alone gives them more comfort and reduces unnecessary stress.
Therefore my true value as your financial advisor is to create a supportive environment where you feel comfortable asking questions and gaining more knowledge through ongoing education. By creating more open communication you will become more engaged in the process and more confident in your ability to make important financial decisions.”
The woman just smiled.
If you were on that panel how would you answer that question?
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