It’s a universal truth that “money” and “value” are inextricably linked. However, as a financial professional, it’s easy to lose track of this time-tested principal.
Of course, it’s not due to a lack of care. Rather, it’s difficult for a financial professional in an ever-commoditizing industry to provide value to a client when essentially every professional has access to the same products and strategies.
Value in this context is not defined by the ability to illustrate the best life insurance policy or diversify an investment portfolio to perfectly match the client’s intended Alpha and Beta. Instead, value is defined by empowering the client to take action.
The biggest impediment to a client’s success is their own “paralysis by analysis.” Meaning, value is the ability to help a client help themselves. So, how do you provide more value to a client?
One word… Communication.
It’s the single biggest determinant of success in the financial industry. It’s like the classic examples of cars. Does a Kia get a driver to the same destination as a Bentley? Assuming they’re both functional vehicles, they sure do.
So then why does one cost $250k and one cost $25k?
Ultimately, it’s the perceived value of the Bentley versus the Kia. Clearly there isn’t an unequivocal “best” vehicle, as the road isn’t filled with all Kias nor is the road filled with only Bentleys. It’s imperative that the idea of “best” is removed from a financial professionals mouth.
See where I’m going with this?
There isn’t a universal best. Whether it’s insurance or investments, no company maintains a market-share that would indicate it’s the “best.”
I might offer that Facebook and Google have both solidified their place as the best. Google’s market-share is near 90% and Facebook represents 50% of all social media (not including other subsidiaries it owns such as Instagram).
The value of a financial professional is the ability to communicate with the client and help them understand complex concepts by breaking them down into small, digestible bites.
So then you’re probably thinking, “how do you improve your communication?” Exactly like you would with any other skill: Practice.
Utilize the videos in “Unveiled” to enhance and evolve your communication. There isn’t a perfect communication type or style. However, there is always improvement.
If you’re striving to grow your communication every day, every week, every month, and every year, it’s a foregone conclusion that your practice will be growing at a multiple of those financial professionals who don’t. Today’s the day. Get into action.
Make a move to best the best version of you. It’s time for you to take your rightful spot in the Masterpiece Zone.