Trust!
You already have this, of course. All financial advisors do to some extent. Yet, the really, really good and successful financial advisors know how to leverage trust to the nth degree.
* Trust is not so much a “secret” ingredient of success for financial advisors as it is noticeably underutilized.
To be clear, we are defining trust as: The firmly-held reliance in your character, integrity, or ability that someone else has bestowed upon you.
Here’s the other thing that we have observed. The fastest way for you to grow your business exponentially in 2013 is by using the trust that already exists within your current network. We are talking about your present network of friends. Or clients. Or family. Or professional acquaintances. Or anyone else who knows and trusts you.
There is no quicker way for a financial advisor to begin, or deepen, a relationship than to do it with someone who trusts you!
Example: Joe Biden and Mitch McConnell
We saw a great instance of how trust can completely change the dynamics of a situation just the other day during the “fiscal cliff” negotiations. After 305 days of political posturing and bloviating on both sides of the aisle, it all came down to two guys talking on the phone who trust each other: Vice President Joseph R. Biden Jr. and Senate minority leader Mitch McConnell (R-Ky.
Personality-wise, these two men could not be more different. Biden is smiling and outgoing. He looks like a politician from a mile away. McConnell is reserved and deliberate. He looks like anything but a politico. However, they have built their relationship over the 24 years that the spent together in the Senate. They may not be bosom buddies, but they can find solutions together because they trust each other.
Jumpstarting Your Growth in 2013
Here’s the deal. The ultimate value that you create as a financial advisor is building trust. Over your entire career (or careers) you have built a level of trust with a certain number of people who trust you implicitly. Who are they? Who trusts you most? Doesn’t it make sense to begin looking at these friendships in a more profound and different way…especially those who fully appreciate you and trust you?
The point is this. Before you begin new relationships of trust, take account of everyone who trusts you…right now. New relationships of trust are important, of course. But before charging off down this road, take a look around you. The persons who trust you may be closer than they appear.
Inventory All Those Who Trust You Most Right Now: 3 Steps
- Identify Loyal Client Advocates. Loyal Client Advocates are clients who know your business so well and are so invested in the success of your practice that they will advocate on your behalf and partner with you to identify a meaningful number of quality clients each and every year. Identifying and converting the traditional client to becoming a Loyal Client Advocate gives your practice a significant advantage over your competitors.
- Identify Professional Advocates. Professional advocates are other trusted professional colleagues; that includes and goes beyond the traditional introduction sources such as attorneys and CPAs.
- Identify Friends, Family and Acquaintances. This is a time when concerned investors are increasing turning to financial advisors for help. In all likelihood, this is THE time when your best friends, and acquaintances, need you. Doesn’t it make sense that they work with you…someone who they know and trust…as opposed to some random guy/gal who simply contacted them before you did?
The people who trust you need you now…more than ever. Do not hesitate to serve them.
For more insights into how you can leverage those who trust you via Loyal Client Advocates, download the complimentary ClientWise Learning Tool below:
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