What is missing?

When I came up with my last two posts, I put a lot of thought into the concept of a Wealth Journey.  The Journey needs a road map and it needs to be prepared for risks and challenges that will make the Journey not as pleasant.

That said, there is something else missing that really differentiates the experience on the Wealth Journey that I need to talk about - probably even more so than the road map and the obstacles.

Many Wealth Managers will talk about how many client discussions have a perception of being important but far from urgent, which leads to postponed meetings, etc.  How many things do we do that are urgent, but not important?  The Wealth Journey if not attended to, is like a helium balloon.  It starts up at the top of your ceiling and slowly makes its way down before you notice (until your three year old starts complaining about it, but that is a different story for a different time).

That slow leak is the difference between one person I have been talking to since May.  They are paying $8000 more in fees than they would be if they moved over to me.  I have a few clients like that.  It's easy to say it's them.  The truth may be it is me.  Maybe I haven't made a good enough case to make what they want to do = what they have to do.

I haven't changed the paradigm in the industry.  I need to remove the transactional feel.  So how do I do this with my current clients?

Truth:  Unexpected Honesty (how can I share personal stories that create a deeper personal connection, what can I reveal about our industry), Unbiased Facts (statistics), Proactive Integrity (what constraints and limitations have I put on myself that go beyond the industry).  This is the difference between facts and a personal truth.  However, I need to make this personal truth relevant to those I am talking to.

Relevance:  Active Listening (am I engaged), Meaningful Point of View (Do I have a strong opinion on a challenge people are facing), Surrounding Context (what is hot in the media, what matters to that person right now).

Unselfishness:  What am I giving?  What am I offering?  Where do I demonstrate human empathy for their personal challenges?

Simplicity:  Focus on a clear core concept that they can easily share with a non-financial language

Timing:  Is there a necessary urgency?  Is there a seasonal event to capitalize on?  Is there a habitual connection to make?

What matters is (1) Do I add value, (2) Do I save them money, (3) Do I make their retirement more secure?

So I haven't really focused on my previous two posts and I am focusing on how I can build my message on these elements.