Wednesday, September 21, 2005

Financial Services Coach

The financial services industry is a very crowded field and is a great example of a "relationship business". When it comes to their money, people want to do business with people they know and like. Those who succeed are masters at customer service and cultivating relationships with those they serve. My own financial advisor is a trusted friend, mentor and member of the family.

While he is not with the company that is currently running the national television advertisements where the man is making a toast at a wedding about how they had planned and saved for this day for decades (it turns out the guy speaking is not the father of the bride, but the family's financial consultant).... I still laugh every time I see the commercials, as I know this could really happen at my own daughter's wedding.

Regardless of the type of business you work in, your goal should be to build close friendships with your clients. It is easy to fire a lawyer, realtor or accountant, is difficult to fire a friend.

I know another financial advisor who is a sports nut. He played college football and lives for the game. Although he is not married, he coaches a kids team in an affluent neighborhood. He has discovered that by teaching his deep appreciation for football to the kids, he has become close friends with the parents. Without even asking for their business, he continues to gain clients in the families of the boys on his team. While other financial advisors are making cold calls, he is becoming part of the lives of those with whom he wishes to do business. His coaching skills on the field are embraced by his clients who turn to him for advise in stocks and other investments.

Find a way to be more than a vendor. Become part of the lives of those in your network. You will often not even need to ask for the they will be calling you.

Have A Great Day.

Thom Singer

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