Many monetary advisors method prospect conferences with a mindset of giving potential purchasers ample house to think about the connection earlier than making any commitments. Asking them to “assume it over” after an preliminary assembly is a typical technique designed to assist purchasers really feel comfy and keep away from the notion of being pressured into partaking within the relationship instantly. This method permits prospects to think about if the connection is the correct match for them whereas additionally mitigating the danger of the advisor coming throughout as too aggressive and ‘salesy’. As such, some advisors have formalized this step into their prospecting course of.
Nevertheless, what occurs when an preliminary assembly goes exceptionally nicely, and the prospect is instantly able to commit? In such circumstances, advisors might discover themselves confronted with a conundrum – ought to they hold their course of and ask a prospect to “assume it over”, doubtlessly stalling the momentum, or ought to they adapt to the prospect’s readiness, which could introduce inside stress about compromising the method they’ve constructed and deviating from their ordinary routine?
On this 158th episode of Kitces & Carl, Michael Kitces and consumer communication skilled Carl Richards debate the professionals and cons of sustaining an extended prospecting course of – particularly when a prospect is able to commit early in an advisor’s course of.
Whereas “assume it over” is commonly framed as a profit to prospects, there are additionally compelling causes for advisors to take their time contemplating the connection earlier than agreeing to maneuver ahead. For instance, advisors working a life-style agency typically have restricted consumer capability and may have time to judge whether or not the prospect aligns with their values and repair mannequin. Equally, advisors who present complete plans as a part of their worth proposition would possibly want time to place collectively the required info – and asking prospects to “assume it over” offers each events time to make sure a great match.
On the flip aspect, being advised to “assume it over” will also be irritating for prospects who’ve already carried out their due diligence and are prepared to maneuver ahead. Whereas prospecting will be nerve-racking for the advisor, it will also be difficult for prospects who really feel able to commit – they could interpret delays as pointless obstacles. Advisors can strike a center floor if they need (or want) an extended prospecting course of with out disempowering the ready-to-commit prospect. For instance, the advisor might body a second assembly as a possibility to assessment paperwork whereas having paperwork prepared for individuals who are nonetheless able to proceed. This will help a prospect really feel empowered and heard whereas nonetheless giving the advisor time for their very own course of and consideration.
In the end, the construction of a prospecting course of typically displays the non-public type and luxury degree of the advisor – whereas some might favor a deliberate, multi-meeting method, others would possibly embrace faster commitments when the match feels proper. The secret’s discovering a steadiness that respects each the advisor’s course of and the prospect’s readiness, guaranteeing ahead momentum with out compromising the integrity of the connection!
