You are a financial advisor who is involved in the community. Because of this, whenever you leave your house, you’re on stage with clients or prospects. What does that mean?
One of the elements of your success is getting as many people as possible to know who you are, what you do to help clients and why you are good at your profession. The positive outcome should be that many people hear you are a financial advisor. Hopefully, they come to you when they need a financial advisor. This means you are often recognized — or on stage — when you go about your daily life in the community.
Here are some of the things that can happen:
- Grocery shopping. Years ago, when my wife shopped for groceries, I would stand near the cash registers flipping through the latest copy of the gossip tabloid National Enquirer. One day in church, a fellow parishioner remarked, “I know you! You are the guy who reads the National Enquirer at the checkout!”
Instead: Bring your own magazine. Reading Barron’s while waiting sends a better message.
- Answering questions at parties. Doctors and lawyers have been asked for free advice in social situations for years. This can happen to financial professionals too. Someone at a party asks you a question about the direction of the stock market or interest rates. You might think you are in a 1:1 conversation, but people standing nearby are listening in to see what you say.
Instead: It is difficult to give advice when you don’t know the person’s situation. Try to keep it general and suggest you have a private conversation later.
- You are upset and you show it. You show up at a restaurant and they have no record of your reservation, so they can’t seat you immediately. You get angry and scold the host/hostess for making a mistake. Others are watching. They know what you do for a living. They reconsider if they would want an advisor who snaps at people.
Instead: Work with them. Smile and ask, “What can we do to resolve this?”
- You treat people in service roles as inferiors. You check into a hotel, expecting someone else to carry your bags. At a restaurant you loudly ask, “Is anyone going to take my coat?” You talk down to the housekeeper in the hotel corridor. You are giving the impression you think you are better than others. They wonder if they would get the same level of service as your best clients.
Instead: Treat everyone with respect and address them as equals. Speak softly and be polite.
- You owe money and are slow to repay. This might happen in the nonprofit world. You say you will buy tickets to the gala; however, the staff needs to chase after you to collect your check. You belong to a private club and your name is posted on the bulletin board on the delinquent list. This implies you are bad at managing your finances. How can you give financial planning advice if you cannot manage your own money?
Instead: Be the first to pay. Let that word get around!
- You dress sloppily when shopping or attending religious services. You might think you are enjoying your free time. You are still observed and judged though. If your shoes are in poor repair or your clothing is stained or torn, it implies you neglect your personal appearance. People think perhaps you are not as successful as others say you are.
Instead: Make an effort. You never know when you might cross paths with a good client.
- You don’t take phone calls because “it’s nobody important.” This might happen in social situations. Your phone rings. You say, “It’s nobody” and put your phone away, ignoring the call. People wonder if they would be considered a nobody and ignored if they really needed to reach you.
Instead: Turn off your phone in social situations. If you do get a call, answer and let them know you are with other people and will call them back.
- You gossip about people who are not present. People do this all the time. It might be fun, but it casts the missing person in a bad light. Although you respect client confidentiality, onlookers wonder if you talk about them when they are not present. They wonder what you say.
Instead: Don’t join in. Extract yourself from this situation or change the subject.
- You are a freeloader. You go out for drinks but leave before the bill arrives. When others say, “Dinner is on me tonight,” you always agree. You never pick up the check yourself. People assume you are looking for as much as you can get for free.
Instead: Be mindful that some people are “counters.” Always offer to split the bill. If they insist on paying, ask if you can leave the tip.
- Your car is dirty or falling apart. It might run, but it looks unloved. It might be a newer model, but it is unwashed. People wonder if you are as successful as they thought if you drive a poorly maintained car.
Instead: Keep your car clean, or park where it won’t be noticed.
- You gamble openly. This might be going to casinos, playing poker with friends or betting on the horses. You are seen as a risk-taker. Would you take risks with client’s money too?
Instead: This should never be seen. If you insist on gambling, do it in another town where no one knows you.
People are watching. They talk behind your back. Many people enjoy being critical. Don’t give them something negative to talk about.
Bryce Sanders is president of Perceptive Business Solutions Inc. His book, “Captivating the Wealthy Investor,” is available on Amazon.
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Outstanding piece and very good advise to follow.
Very good ideas I will do my best to follow it Thanks and Regards