Do you walk away from meeting with a female client thinking things just didn’t “click”? Did she seem distracted and uninterested when you were talking about the current investment strategies?
What you are experiencing is a disconnect between her comfort zone and yours. As an advisor you are used to talking about financial plans and investments in terms of growth potential and rates of return. Those things are your passion. But for her, money means security and the ability to make life choices.
If you want to truly engage her and keep her as a loyal client, one who happily recommends you to her friends – you need to connect with her on her terms.
Here are 5 things to listen for when meeting with female clients.
- Personal interests
What does she like to do? What are her hobbies, passions, pastimes? Does she garden, read books, travel or play tennis? When she talks, be attentive to common interests – just be careful not to take over the conversation with your own stories.
- Her take on current events
Listen for her comments about current events. How does she feel about pipelines and the environment, what about health trends and pharmaceuticals? Use what she says to boost her confidence by telling her that opinions and actions from people like her, can and do, impact a company’s stock.
- What her life goals are
Ask her what her goals and dreams are – what’s on her “bucket list”? By listening to what she wants to do in life you will gain valuable insight to her attitudes about finances. What does she want/need money for?
- Her comfort level with your service
Listen carefully for clues: is she telling you she is too busy, or she doesn’t understand what you’re saying. Be prepared to adjust how often you meet, where you meet and even how you present your strategies.
- Her expectations of you
Does she say things like: “I thought you were going to…” Ask her how she sees her role around when it comes to her investments. Does she leave it all up to you? That may sound like an ideal client but it leaves her disengaged and could put you at risk. If she actually plays a role, she’ll be more engaged and less likely to leave.
Take away: Only by truly listening to and engaging with female clients can you become the kind of trusted advisor she is happy to recommend to friends and family.