Archive for September, 2007

Financial Planning from a Biblical Perspective

Tuesday, September 11th, 2007
I am a Financial Advisor that does a lot of business in the Christian community.  I find that my Christian clients are pleased to work with someone who gives them advice and counsel from a Biblical perspective and Godly wisdom.  I would imagine there are others that market primarily to members of some affinity group, etc.  Are there specific ways or methods that we should or should not use to seek referrals from people within these groups.  I want to be very sensitive as to how to do this properly.  

 A.S.

Thanks for taking the time to write and submit your question. You are not the first advisor who has made the decision to focus on financial planning from a biblical perspective.   In fact, targeting an affinity group is usually a good idea. Seeing  how important your faith is to you, I suspect you’d really enjoy working in this group. 

A good affinity group is one that has formal and informal ways of communicating. In this way, it’s easier for you to grow your reputation. Of course, of the group is too small or too tight nit, you can run the risk of having 1 disgruntled client poison the well for you – so to speak. Should you choose to focus on this group, let them know you are doing that. Let them know that these are the folks you serve the best or do your best work for.  Of course, just don’t come from an arrogant – holier than thou – perspective and I think you’ll be fine.   

I hope this makes sense. Don’t hesitate to post a follow up question. Bill 

PS – One more thought.  I have a friend/colleague who you might want to talk to. He has been helping financial advisors deliver bible-based planning for years.  His name is Richard Parker.  Tell them that I sent you.  Thanks!     His email is:  richard@esanow.com 

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Dealing with Pessimistic Clients and Prospects

Tuesday, September 4th, 2007

Question:  How to deal with / methods in working with OVERLY pessimistic clients AND especially PROSPECTS. 

Does EVERYTHING have to be rosy in the clients account OR on the “best of terms” with your client/prospect relationship  ….to have the “right” to ask for referrals ?

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  All I can say is get to a place of success where you don’t have to work with negative/pessimistic people.  You won’t be able to change their nature.  

 Everything does not have to be perfect for you to ask for and receive referrals, but you do need a basically happy client.  If you ask them to rate you from 1 to 10 – I’d say you need to be at an 8,9, or 10 to ask for referrals. Anything shy of that, and you have some relationship work to do.   Of course, you must always separate your value discussion from what’s going on in the market. You can say something like, “George, let’s put the market aside for a minute and focus on something we CAN control – that is, our relationships and our communication.”  Then go into the value discussion.

It’s the value discussion that will give you the sense that moving to the referral request is the right thing to do.

 

Bill 

How do YOU handle those over pessimistic clients and prospects?  Do you have a special “script” or technique that has proven to be successful?  If so - share your thoughts and post a comment. 

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