What’s In It For You?

By Rod Zeeb

As a financial advisor, your focus is on helping clients achieve their financial goals. But have you ever stopped to think about what’s in it for you? In this transcript of a conversation, Speaker 1 explains how focusing on clients’ desired outcomes can benefit you in several ways.


One of the first benefits is increased business. When you take the time to understand your clients’ core values and what they truly want, you build stronger relationships. This leads to more business from the same clients, as well as introductions to new clients. Higher retention rates mean more current and future revenue, which is always a plus.


Another advantage of focusing on clients’ desired outcomes is that it can lead to multi-generational planning. High net worth clients often want to ensure that their wealth won’t hurt their children. By helping them achieve this goal, you can become a trusted advisor for multiple generations. This not only increases the value of your business, but also opens up new opportunities for referrals and introductions.


Speaking of introductions, they are a vital part of building a high net worth base. Clients are more likely to refer you to their friends if they are happy with the service they receive. In fact, a study cited in the conversation found that clients who felt that their advisor knew their core values were more likely to make introductions. This underscores the importance of understanding your clients’ desired outcomes and building strong relationships.


Finally, by engaging with the next generation of clients, you can create a powerful referral network. Young, rich clients are an excellent source of referrals, and they are more likely to refer you to their peers if they feel that you treat them as individuals, not just as “mom and dad’s kid.” This can lead to a longer retention factor and increased revenue over time.


In conclusion, focusing on your clients’ desired outcomes can benefit you in many ways as a financial advisor. By building strong relationships, engaging with multiple generations of clients, and cultivating a powerful referral network, you can increase your revenue and the value of your business.

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