Finding a Financial Advisor

“Thanks for coming in today. I should let you know, the only reason I am taking this meeting is because you are good friends with Jim who is one of our most valued customers.”

I reached over the table shook her hand, thanked her for her time and left immediately.  This was an encounter I had with a financial adviser about 8 years ago when I was just finishing University. I wouldn’t then, and still won’t, ever do business with someone who opens this way. The message she was trying to send was, I am very good at my job, and normally handle portfolios much larger than yours.  Unfortunately, what I heard was:

• My time is more valuable than your money.
• If we do business together and you require some special help don’t call me, you aren’t worth it.
• I am not going to try that hard to win your business or keep your business.
• I am only going to give 50% effort on whatever work you need done.
• You should be happy with what you get out of me, even if it is a 50% effort.

Here is the thing about business, no account is ever simple. Everything, at some point, requires the attention of someone who cares enough to do the job right. The idea of surrounding yourself with people who are telling you at the get go that they aren’t willing to go that extra mile is just asking for problems. When you hear this type of pitch, or find yourself in the position of doing business with someone who really, at the core, is not excited or interested in doing business with you- run the other way.

If you have ever caught yourself in the position of having given this line to someone in the past and are trying to rationalize right now, remember this:

• Professionals in any field don’t practice doing things half hearted.
• If you don’t think you should do business with someone, for any reason. Don’t waste everyone’s time, don’t take the meeting.
• The future is funny. Today this lady would die to do business with me. A few years can change quite a bit- remember that.