I recently visited with a prospect who was referred to me by a young Trust & Estate attorney from the largest law firm in Bflo. I visited w the prospect at her home and I thought I developed decent rapport with her. She absolutely meets my optimal client profile.

The prospect told me that she was meeting with one other advisor and we agreed to speak the week following that meeting. I got a voice mail from her over the weekend that she has decided to select the other advisor as he works on an hourly, fee-only basis and will teach her how to do the investing, etc on her own.

I charge a fee for investment management but it is 1% of AUM in perpetuity.

What would you do in follow up if you were me?

Thanks,

Will

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Will, 

I think I’d wish her well, let your referral source know, and then maybe check in with her in 4-6 months (or sooner if you think that makes sense).  You might see what the attorney has learned and what he advises – based on what he knows about her. I wouldn’t totally let go of her – yet – but I wouldn’t spend too much time on her either.  Things change, and it would be good for her to remember a very favorable impression of you. 

Make sense?  Bill

This entry was posted on Monday, December 3rd, 2007 at 12:39 pm and is filed under Clients, Referral Marketing. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.