Politics, sex and religion. Years ago, it was understood these three topics were off limits at dinner parties. People kept their opinions to themselves. Today, the three topics make headline news and overlap. What do you do when you realize your prospect or client has a different opinion than yours.

Like seeks out like. This can be great when you and your client think the same way. Some advisors have picked a category and made it their niche. Problems develop when you are already doing business (or want to do business) with someone in the other camp.

1. Don’t poke the bear.  If you feel politics will be a tricky subject, do not be the one to bring it up. If you think talking politics might be a problem, the problem doesn’t develop until someone brings it up. Don’t be that person.

2. I hear you. This is an expression that acknowledges their opinion yet does not indicate you are agreeing with them. “I see where you are coming from” gets the same message across. When you disagree with someone, you might not know what to say. These comments respond without agreeing.

3. Respect their opinion. People do not want to be dismissed. If you get them talking, they should spell out how they formed their opinion and the facts behind it. This might be a point of view you never considered. Hear them out, draw them out.

4. An argument isn’t going to get you anywhere. Some people enjoy arguing. They seek out confrontation. It is unlikely arguing will change their opinion. Getting into a shouting match might convince them not to do business with you.

5. Be open-minded. Give them an opportunity to make their point. Why do they feel that way? Draw them out.

6. What is the source of your information? “Where did you hear that?” If you feel they might be misinformed, it is a good idea to try and identify the source of the statements they consider facts. There is a difference between respected publications, anonymous websites and word of mouth. Learning where they get their information opens the door to sharing where you get your information. Each of you might benefit from seeing this bigger picture.

7. Do you share your own opinion? What do your political views have to do with providing good investment advice? These are usually different compartments in the relationship. How the money is made and how it is taxed are different subjects. You can recommend stocks you feel will do well based on certain circumstances. You cannot write tax law. If you feel there will be an issue, you might want to compartmentalize. There are other subjects each of you would consider private. Add this to the list.

8. Seek common ground. Find some areas where you can agree. Both of you want the world to be a better place. You might disagree with the path to reach that objective. You both want your children to get the best education possible. You both want to have comfortable retirements. Finding things you can agree on changes the focus in a positive direction.

9. What investments would do well under the scenario you outlined? This becomes a way to both gauge their level of commitment and determine which of your recommendations would receive the most receptivity. If the scenario they outlined indicates energy prices should go up and your firm is recommending overweighting the energy sector, they have bought into your suggestion. Part of seeking common ground is recognizing both you and the client want the client to make money.

What Not To Do
People can get very emotional when discussing politics. You have a business relationship and want to keep it going for the long term.

1. Do not tell them they are idiots. You might do this with your friends after a few drinks. You might lose a few friends that way. You do not want to lose clients.

2. Do not laugh at them. You embarrass a person when you laugh at them. It seems to communicate, “How can you be so stupid?” I did this once when we were out at an event with friends, and someone mentioned an investment they made on their own that blew up. I laughed. Afterwards I realized how awkward that must have been. I did not make that mistake again. There is a difference between laughing with them and laughing at them.

3. Do not raise your voice. You might have firsthand experience in this area if you have young children. You do not want to “lose it.” If you argue with a clerk in a store, they often dig themselves into their position and refuse to compromise. This does not help.

4. Do not tell them their facts are bogus. This can be a problem where politics are concerned. Each side seems to be suspicious of the impartiality of the news media favored by the other side. You might mention where you get your facts but try not to dismiss their sources.

5. Do not argue your position. Perhaps you belonged to a debating club at school. Maybe you were an attorney before you became a financial advisor. You are in a business relationship with your client. Changing their opinions and beliefs does not contribute towards the success of the investing strategy you recommend.

6. Do not fire them. Everyone is entitled to good investment advice. They are paying for it, directly or indirectly. It is wrong to fire them because you disagree on a personal matter. If you and the train conductor disagreed on politics, it would be wrong for the conductor to forbid you from riding his train. The client might choose to walk away, you are providing a service. You should continue to provide it as best you can.

People will disagree about politics. It does not mean you cannot do business together. Put another way, you can disagree on politics, but you can still do business.

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.