By continuing to ask questions, the advisor learned of the widow's interest in roses. At an appropriate time later, the advisor sent the widow a note containing a clipping from a gardening magazine. Using gardening language to talk to the widow, he wrote, "I understand that roses need pruning now and again to stimulate bigger blooms. Perhaps it's the same with your husband's financial plan. He planted a great rose bush, but it simply needs a bit of pruning."
The widow agreed.
Understanding the emotional experience of financial events equips the financial advisor to respond more effectively to clients. With careful adjustments in communication, an advisor can make this transition easier for both the client and the firm. The client gains a more meaningful relationship to their new money. The advisor and firm build a sterling reputation, gaining more business from existing clients as well as invaluable referrals.
Standing in the valley of snow-laden mountains, both client and advisor can rest assured they have prepared the floodgates for the coming financial spring.
Gary Shunk is a consultant to families of wealth and the advisors who serve them. His primary mission is to help integrate wealth, character and calling. He is based in Chicago. His Web site is www.wealth-psychology.com.
Megan Wells is a writer and communications expert. She uses writing and storytelling for leadership, creativity and innovation. She works in Chicago. Her Web site is www.meganwells.com.