Many monetary advisors method prospect conferences with a mindset of giving potential shoppers ample area to contemplate the connection earlier than making any commitments. Asking them to “suppose it over” after an preliminary assembly is a typical technique designed to assist shoppers really feel snug and keep away from the notion of being pressured into partaking within the relationship immediately. This method permits prospects to contemplate if the connection is the precise match for them whereas additionally mitigating the chance of the advisor coming throughout as too aggressive and ‘salesy’. As such, some advisors have formalized this step into their prospecting course of.
Nonetheless, what occurs when an preliminary assembly goes exceptionally properly, and the prospect is instantly able to commit? In such circumstances, advisors might discover themselves confronted with a conundrum – ought to they preserve their course of and ask a prospect to “suppose it over”, doubtlessly stalling the momentum, or ought to they adapt to the prospect’s readiness, which could introduce inside stress about compromising the method they’ve constructed and deviating from their normal routine?
On this 158th episode of Kitces & Carl, Michael Kitces and consumer communication skilled Carl Richards debate the professionals and cons of sustaining an extended prospecting course of – particularly when a prospect is able to commit early in an advisor’s course of.
Whereas “suppose it over” is commonly framed as a profit to prospects, there are additionally compelling causes for advisors to take their time contemplating the connection earlier than agreeing to maneuver ahead. For instance, advisors working a way of life agency usually have restricted consumer capability and might have time to guage whether or not the prospect aligns with their values and repair mannequin. Equally, advisors who present complete plans as a part of their worth proposition would possibly want time to place collectively the mandatory data – and asking prospects to “suppose it over” provides each events time to make sure match.
On the flip facet, being informed to “suppose it over” will also be irritating for prospects who’ve already achieved their due diligence and are prepared to maneuver ahead. Whereas prospecting could be nerve-racking for the advisor, it will also be difficult for prospects who really feel able to commit – they might interpret delays as pointless obstacles. Advisors can strike a center floor if they need (or want) an extended prospecting course of with out disempowering the ready-to-commit prospect. For instance, the advisor might body a second assembly as a possibility to overview paperwork whereas having paperwork prepared for individuals who are nonetheless able to proceed. This might help a prospect really feel empowered and heard whereas nonetheless giving the advisor time for their very own course of and consideration.
In the end, the construction of a prospecting course of usually displays the private model and luxury degree of the advisor – whereas some might choose a deliberate, multi-meeting method, others would possibly embrace faster commitments when the match feels proper. The bottom line is discovering a stability that respects each the advisor’s course of and the prospect’s readiness, making certain ahead momentum with out compromising the integrity of the connection!
