Successful Financial Advising and the Importance of Preparation

Why Preparation Pays Off

Ultimately, proper preparation shows that you care and are interested in a prospective client. For referrals, don’t forget to double-check the names of the potential client and the mutual acquaintance who referred them. Be sure to research your potential prospect’s background and basic work information.  Doing the requisite research will help you avoid tripping up on basic information that could cause you to lose credibility with them. It is the details that can make or break a deal.

What Are Some Ways that You Can Prepare?

In addition to learning about your client, you should learn about the market that your potential client operates.  This will steer your financial advice. Here’s how you can learn more:

Social Media

While there is no need to cyberstalk, social media offers lots of valuable information and resources about potential clients.  If it’s someone that you have mutual contacts with, you can double check names of spouses or businesses to help you be more personable. Social media can also offer information as to personality, mutual interests, or industry trends.

Industry Reports

Take some time to get to know the industry that your client works in as a whole.  Take a look at recent research, recent changes, and developments, as well as trends and points of interest.  This can help you begin a conversation smoothly and inform your efforts to put together a sound investment plan.

Account Analysis

If you have access to public records for a company’s financials or other access to a client’s account, then you can take some time to look into it before the first call or meeting. If there are public company financials, you might look at the company’s growth or other service offerings, then you might put together a packet of research materials to present at your meeting.

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