VIPs: “It’s important that you know we work with some of the biggest names in the investment management industry. People at the same level that you are. People who understand the appropriate investments for someone in your position. How do you feel about that?”

Accumulators: “It seems to me that you are very astute about money. You know how to save it and how to make it grow. I enjoy working with clients like you and I’m going to do my best to make sure we create an investment strategy to make the most money possible. Are we on the right track? Is that what you want from an advisor?”

Gamblers: “Investing is exciting for you, just like it is for me. I love everything about investing. Whether it’s finding a great stock or doing research on financials. Together, we can make sure you keep up with all the events going on. I sense that your ideal advisor is one who is as excited about the process of investing as you. Am I right?”

Innovators: “You have a great deal of knowledge about investing, and it’s very important to you to use state-of-the-art investment approaches. That’s precisely what my firm and I specialize in. Is this the way you want to go?”

Conclusions
The power of high-net-worth psychology to empower you to be more client-centric as well as more professionally successful is not debatable. However, critical to achieving these goals is being able to accurately determine the high-net-worth personality of an affluent investor.

To enable you to ascertain an affluent investor’s high-net-worth personality, we developed the Profile Diagnostic System. The core of the system is four questions. Additionally, once you have determined an affluent investor’s high-net-worth personality, it’s wise to confirm your judgment by using trial balloon questions.

Russ Alan Prince is president of R.A. Prince & Associates Inc. and executive director of Private Wealth magazine.
Brett Van Bortel is director of consulting services for Invesco Consulting, the sales consulting group within Invesco Distributions Inc. The opinions expressed are those of Russ Alan Prince and Brett Van Bortel, and are based on current market conditions and subject to change without notice. These opinions may differ from those of other Invesco investment professionals.

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