What is NEXT ? The shift in what the Affluent and HNW want!

Based on our research. observations and feedback from affluent and HNW individuals’ things have changed – some dramatically.

1. People will rely on and value their professional, recreational and special interest networks more than ever for support and guidance. These will become their new “centers “of influence and your best leverage point.
2. Clients will refer those who have expressed dissatisfaction with their advisor’s lack of personal communications during these past months of  disruption of well-being and finances. NOT all will be the right referrals for you. Identify colleagues now that you can send them to so that people  get “ the right advice from my colleague based upon your desired outcomes”.
3. Generic, standard (and often ambiguous) features and benefits of recommendations or advisor attributes will be ignored or worse, found to be disrespectful. People now demand clarity as to the  direct application to their desired objectives. So just  exactly what does your years of experience mean to me …and what will I actually accomplish because of it?
4. Estate issues and financial planning including life insurance and long-term care will be a center piece topic given the mortality underbelly of the virus. These products are already booming as there are plenty of people who are prospering even now and need to hear from you.
5. The service conversation will no longer be meaningful- it is at best a base expectation. Advisor selection (and yes client  retention) will be about the structure of your proactive communications using technology and the consistent elevated experience clients receive. Expect questions on exactly what you did to communicate with your clients during this current disruption.
6. One of the  top SEO searches  now is “Financial Help”. That will translate into financial preparedness  to include- “what if” planning, more savings,  more demand for guaranteed income/return products. It will also drive more inquires but-  not necessarily more of the right business. Be mindful and cautious of the price versus value shopper.

Stay tuned for a new program we will roll-out within the next 2 weeks to help you execute on these and other findings. The new household acquisition war is going to be brutal.

Stay safe and be well. People need you NOW more than ever!

Richard

C. Richard Weylman
Keynote Speaker, Best-Selling Author
CEO/CDO TheWeylmanCenter.com
Here to help you elevate your business and life performance.