An important lesson on how not to evaluate a potential client

By Subash Chatrooghoon, Dip FP

During my junior advisory years, a memorable referral came to my attention: Mr. G, who made curtains. Not knowing much else about him, I scheduled an appointment at his place of work. My first impression was that he was a seamstress at this business. With my polished shoes and “dressed to the nines” look, Mr. G took me to a back room and sat me down on a broken lounger.

He was not an especially well-dressed gentleman. My initial thought was that he was not my ideal client and felt that he would be wasting my time. Nonetheless, I listened in disbelief while he spoke about the value of his business, the number of vehicles he owned, his multiple investments and the insurance policies he had in place. It wasn’t until Mr. G signed an authority letter to access to his accounts that it became clear that he was truly a wealthy man. My opinion about him changed in an instant. Today, Mr. G is one of my biggest clients.

That day I learned a very important lesson: “Do not to judge a book by its cover.” One never knows who has a pot of gold. Apart from Mr. G placing his business with me, he has referred me to his entire family, many of whom are successful businesspeople.

Subash Chatrooghoon, Dip FP, is a four-year MDRT member from Kyalami Hills, South Africa.

Read more in 12 ideas for prospecting.

Comments
  • Subash Chatrooghoon says:

    It was indeed a very humbling experience for me.

  • Joseph Robinson says:

    I couldn’t agree more over the past 2 years of my career. My most wealthy clients certainly do not flash it around or make it known. Had I judged them for the way they dressed or the vehicles they drove they would not be my biggest clients – they would be someone else’s biggest clients!

  • Amar Nath Addlakha says:

    Yes I do agree with the lesson learnt from the experience of Mr Subash because in India generally take out illustration for the minimum premium eligible for the plan and they end getting approximately that much premium only because they try to prejudge the prospective client.One should not pre judge the clients

  • Amar Nath Addlakha says:

    Really a learning experience and worthy of discussion in various forums

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