9. I’m in a committed relationship. They have another advisor. Opening an account with you would feel like cheating.
Issue: They buy into the “one and done” logic: one hair stylist, one auto mechanic, one accountant. One financial advisor seems to make sense.
Approach: Different people are good at different things. How many doctors do they have? This should be an “aha” moment.
Now For One Deal Breaker
There’s one misconception you can’t correct—maybe because it’s not a misconception. They just don’t like you.
They really prefer doing business with anyone but you. You’ve heard about “frenemies”—that’s the situation here.
Issue: Circumstances have brought you together, but they dislike you. Marrying into the family and interacting with the in-laws is a good example.
Approach: There is limited upside and unlimited downside. Steer clear. If circumstances develop where refusing to do business would cause even more ill will, stick to simple investments with few moving parts that perform as advertised. Is there anything simpler than three-month Treasury bills?
There are many reasons people you hold in high regard aren’t asking for appointments. Uncovering the underlying reason and addressing it should help.
Bryce Sanders is president of Perceptive Business Solutions Inc. He provides HNW client acquisition training for the financial services industry. His book Captivating the Wealthy Investor is available on Amazon.