Gain clients by explaining your motivations

Many advisors are frustrated because they can’t attract the right type of prospects. What are they doing wrong?

In his book “Start with Why,” Simon Sinek explains successful leaders and business owners tell clients and prospects why they do what they do.

That works because the “Why” speaks to the behaviour and decision-making part of the brain, while explaining the “What” speaks to the rational part of the brain, and the “How” speaks to the feelings and loyalty part of the brain.

To create an effective, powerful brand it is important to communicate all of these to your potential clients, but do it in reverse order for maximum impact.

Read: Building the brand of you

Look at something you love to do, a milestone you achieved, or an event that has impacted you. Let’s say you run marathons. Determine why you are passionate about running and how it reflects how you operate your practice. You might say marathon running gives me the patience and determination to succeed. It helps me understand the importance of preparing and planning first. I may run into unexpected obstacles like weather or injury. I count on coaches and experts to help me accomplish my goals.

Read: Charm wealthy prospects

Then, draw parallels to wealth management. Clients rely on you to help them plan for financial independence, but you may run into unexpected life changes and you need an expert in your corner to guide you in the right direction and keep you on course.

Once you have a compelling brand story, it will give you ideas for a slogan, and elevator speech, a logo and images and much more. It will help you determine what to put in your print material, website, thank-you cards, etc.

That way, your client will understand why you do what you do.

Read: So how exactly do I get paid? (A template letter)

Assess your own marketing materials by:

• Booking off 20 minutes
• Collecting all of your marketing materials
• Spreading your marketing materials out and scanning what you have created over the past few years
• Asking, “Do all my marketing materials consistently communicate a compelling story that explains why I do what you do?”