Getting to Know Prospects In a Remote World

As the full impact of COVID-19 continues to unveil itself in the financial services industry, many advisors we are hearing from have begun to plan for a long-term remote practice. If you are contemplating a similar shift for the future, it is important to understand the limitations of the methods you used in the past to get to know prospects. Two of these methods, (a) judgment based on direct interaction and (b) forms with …
If you have ever taken a quiz entitled “How to tell if your boyfriend is cheating on you” or “Answer these five questions to learn to see if you’re a good friend,” then you’ve probably taken something akin to what we call a “Cosmo test.” Your answers to just a few questions will result in a detailed analysis of your personality, along with a lengthy set of advice on improving your life (or a …
“My neighbor is driving me crazy. She always says she’s the most frugal person she knows, but she’s spending every dime on *&#$* at Target. It’s not frugal. It’s stupid.” A friend recently shared this sentiment with me, and it is an excellent example of the fact that some of us aren’t great at evaluating our own personal characteristics. Some of us lack self-awareness when it comes to specific attributes about ourselves. Frugality is …
In his “Intelligent Investor” column in the September 7, 2019 print edition of the Wall Street Journal, Jason Zweig wrote about an idea that we’ve thought about a good deal in the recent past: the fact that not all risk tolerance assessments are created equal. In the piece, Mr. Zweig—himself an accomplished and noted author regarding topics related to the intersection of money and our brains—takes specific aim at what some have referred to …
You’ve probably spent time thinking about how you might improve your health, career, finances, family, spirituality, or another essential element of your life. During this contemplation, you may inevitably conclude that a change is required. Many readers of our blog and books share a common problem: they acknowledge a change is necessary (either for themselves or their client), but they also instinctively know that making the needed change will be tough. Why? First, Let’s …

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