Know when you are an expert — and when you aren’t

It would be easy for advisors doing joint work to get in a competition to try to one-up the other. Needless to say, a better strategy is to collaborate with those who complement your skills. Take the lead when it is an area of expertise, and sit back when it is not.

Brian D. Cichy, BS, CLTC, a one-year MDRT member from Oakbrook, Illinois, said that if he brings someone in to talk about a business plan, he will act like a trainee in the field. “That means I’m going to be quiet the whole time,” he said. “This person knows this stuff. It’s not about us; it’s about the client, and if the other person is the expert, he is going to be the expert, and I’m not going to be a show-off or feel I’m not doing enough. I will tell the client this is the expert and I want him to come in because he does a wonderful job for clients, and this is not where I am the strongest.”

Fred O’Connor, ChFC, CFP, a four-year MDRT member from Northbrook, Illinois, agrees. He noted that some of his most successful meetings happen when he says very little. It happens after coming across an expert and wondering which clients might find that person’s message compelling.

“I might get 10 meetings in a relatively short period of time with people where I introduce this expert because I think his expertise might be very useful for my clients,” he said. “I validate that individual at the beginning of the conversation. I say thank you at the end. And the rest of the time is filled with the other person making their pitch and why it could be useful to the client.”

Hear more in the August episode of the MDRT Podcast:

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Written by Matt Pais, MDRT Content Specialist

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