Why you may want to give uncooperative referrals a second chance

The first time Danielle J. Genier, CFP, CLU, met with Madison, a recent college graduate and daughter of clients Genier had known for many years, it did not go well.

Still living at home, Madison was making approximately $70,000 a year working as an engineer for a large mining company, and she actually did appear invested in what Genier, a 19-year MDRT member from Timmins, Ontario, Canada, said about life insurance coverage, emergency funds and saving for a down payment for a house. Except when Genier sent an email outlining the conversation, Madison never responded. Genier followed up with three emails and a voicemail, and still got no response.

So the advisor was understandably reluctant to sit down with Madison again despite her parents’ request two years later. “I asked her mom what had changed,” Genier recalled. “She replied, ‘We see a shift in her thinking.’” Genier agreed to try again and emailed Madison to set up a meeting.

Direct communication

In that discussion, Genier did not hesitate to address what could have been a source of tension: “From the start, I asked her why she did not take action on what I had recommended two years before,” she said. Madison simply said she hadn’t been ready. “Are you ready to hear what I have to say now?” Genier asked. Madison indicated that this time she was more open and apologized for previously brushing off the advisor’s help.

“No apology is needed,” Genier told her. “In life, we all learn when to let people help us.”

This time, Madison did move forward on Genier’s recommendations, teaching the MDRT member the value of not giving up on people, especially younger clients who may not realize what they don’t know. After all, everyone, at one age or another, has been in the position when they believe they know more than a professional.

“I often use the line, ‘I might not agree with your decision, but at the end of the day, I respect it because it is your money,’” Genier said. “’If you change your mind, please reach out.’”

Read 10 ‘”Thou shalt not” referral commandments in the Round the Table story “The Perfect Match.” 

Written by Matt Pais, MDRT Content Specialist