Answering the "Why Us?" Question
Whether retirement plans are core to your practice or part of a larger strategy to help clients, you’ll compete more effectively if you successfully communicate how you differentiate yourself from other advisors. From the perspective of many business owners, most financial advisors provide pretty similar services and say many of the same things. The key is to help them understand why a relationship with you can benefit them. That’s what we call answering the “WHY US?” question. It’s more than explaining what you do and what you recommend, but why they should do it with you.
To be sure, your years of professional service and your credentials matter, but in a universe with many people who share the same designations and path as you, these things may not distinguish you as well as you’d like.
The opportunity here is to focus on the solutions and the outcomes you help drive, rather than focusing on the services and products you can offer. It’s easy to forget that the rules and regs and jargon and choices you take for granted everyday are still pretty foreign to many of your clients and prospects - even if they don’t admit that to you out loud.
Tied to all of this is the goal of guiding people to being comfortable in making important decisions about their future. So, why are YOU a good choice to help them get there?
The key is to focus on your understanding of these important challenges and how you partner with other industry experts to deliver real value.
Sometimes it’s as simple as choosing the right words so clients feel like they have a true partner.
For example, discuss how and when you partner with attorneys, CPAs, and TPAs and recordkeepers to bring best-in-class service. Communicate how you proactively look for opportunities to optimize participation.
Demonstrate how you and your retirement plan partners will create a customized plan to optimize participation, be tax efficient, and set a path for good outcomes. Your orientation to be a partner for the long term will help set yourself apart.
Talk to us about how we can help you showcase your approach to helping clients achieve the outcomes they seek for themselves and their employees. It’ll set you apart from the pack and help set the foundation to grow your business.
- Helping Participants Understand RMDs
- Compliance Essentials
- Use Benchmarking to Your Advantage
- Mergers and Acquisitions
- Four Things to Know About ERISA Fidelity Bonds and Fiduciary Liability Insurance
- Aligning Plan Design with Client Goals
- Your TPA Partner Can Help You Win Business
- Plan Audits
- Maximizing an Owner's Retirement Benefit
- Understanding how forfeitures work in retirement plans
- It's All About Relationships
- Help Clients Understand Why a QDIA Matters
- The Loan They Never Take May Make All the Difference
- Of Course Your Clients Are Fiduciaries
- When to Set Sail with Safe Harbor
- DB is Alive and Well
- Financial wellness - it's essential to saving for retirement
- Cash Balance Plans Allow Six Figure Annual Contributions
- To Roth or Not To Roth
- Answering the 'Why Us?' Question
- Auto-Enrollment and Auto-Escalation
© 2019 Karel Gordon & Associates