Search
 

Investor Psychology (Part One) "Oh Brother, Who Art Thou?"

A prospect comes into your office; let's call him Jake. You shake hands and offer Jake a seat. Stop - at that point, what do ...

By Staff Writer | Updated on September 01, 2004

A prospect comes into your office; let’s call him Jake. You shake hands and offer Jake a seat. Stop – at that point, what do you know about him? Chances are, you know very little: name, approximate age, race, degree of fitness, taste in fashion. So, the questions are:

  • How are you going to use any of that information to help him?
  • How does any of that help you do your job?
  • How do any of those facts help you get a new client?

The answer to all those questions is: They don’t help you. They’re as valuable as knowing Jake’s shoe size.

Following this logic, what would you like to know about Jake? How much wealth he has? How is that going to help you connect with him? Does he already have an advisor? Irrelevant. Why is he in your office? Perhaps – but, unless you can quickly develop rapport and trust with him, you’ll probably never get him to answer those questions.

Complete your profile to continue reading and get FREE access to BenefitsPRO.com, part of your ALM digital membership.

Your access to unlimited BenefitsPRO.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical BenefitsPRO.com information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
  • Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com

Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Recommended Stories

BenefitsPRO

Join BenefitsPRO

Don’t miss crucial news and insights you need to navigate the shifting employee benefits industry. Join BenefitsPRO.com now!

  • Unlimited access to BenefitsPRO.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
  • Exclusive discounts on BenefitsPRO.com and ALM events.

Already have an account? Sign In Now
Join BenefitsPRO

Copyright © 2024 ALM Global, LLC. All Rights Reserved.