What do you reckon?
Are those first five minutes of the advice conversation between adviser and client crucial?
Or is that the time for good old-fashioned rapport building?
In the past ‘advisers’ (or ‘product distributors’ or ‘salespeople’) focused those first five minutes in one of two places – either get the client to ‘like’ them, or differentiate the features of their products or services as primary means or the ‘hook’ to proceed to next step of engagement.
Will that work as well in the future?
I don’t believe so.
I reckon our future clients will be more discerning, future products will be more similar, new competition (& pricing) will be tougher, and ‘old ways’ of establishing the potential advice relationship will just be harder.…