As financial advisors, we often lead with the tangible: investment returns, tax strategies, and retirement projections. While these are undoubtedly important, connecting with clients goes far beyond the purely transactional. It’s about understanding their deeper values, aspirations, and what truly matters to them.
So, how do you articulate your value proposition in a way that resonates with these prospective clients on a more profound level? It starts by shifting your focus from what you do to why it matters to them.
Moving Beyond the “What”:
Think about your current value proposition. Does it primarily focus on the services you offer? (“We provide financial planning, investment management, and estate planning.”) While accurate, this doesn’t differentiate you or speak to their core needs. Affluent clients aren’t just looking for someone to manage their money; they’re seeking a partner who understands their life goals and can help them achieve a meaningful legacy.
Embracing the “Why” and the “How”:
“The Right Side of the Table” book emphasizes the power of discernment-based communication – truly understanding your clients. Your value proposition should reflect this ability. Instead of just listing services, articulate how your approach leads to a better outcome for the client, one that aligns with their values.
Here are some questions to consider as you craft your value proposition:
- What deeper understanding of my clients do I bring to the table? Do you take the time to truly listen and uncover their family values, philanthropic goals, or aspirations for the next generation? Your value proposition can highlight this commitment to understanding beyond the surface level.
- How do I help clients gain clarity and confidence about their future, beyond just the numbers? Do you help them define their “why” and align their wealth with that purpose? Your value proposition can speak to this ability to bring clarity.
- How do I act as a partner in helping them achieve their life goals and legacy? Do you see yourself as a long-term partner invested in their overall well-being, not just their portfolio performance? Your value proposition can emphasize this relational aspect.
- How do I simplify complexity and communicate in a way that truly resonates with them, avoiding jargon and focusing on their understanding? Your value proposition can highlight your commitment to transparency and making complex financial matters understandable.
Examples of Value Proposition Elements:
Instead of: “We offer comprehensive financial planning.”
Consider: “We partner with you to understand your deepest values and craft a financial plan that truly reflects what matters most to you and your family, ensuring your wealth supports your life’s purpose.”
Instead of: “We provide expert investment management.”
Consider: “We go beyond simply managing your investments. We take the time to understand your long-term aspirations and build a portfolio strategy that aligns with your goals, providing clarity and confidence for the future.”
Instead of: “We handle your estate planning needs.”
Consider: “We help you navigate the complexities of estate planning with a focus on preserving your legacy and ensuring your wishes are honored, providing peace of mind for you and your loved ones.”
Making it Resonate:
Your value proposition shouldn’t just be a statement on your website. It should be woven into every interaction with prospective clients – from your initial conversations to your marketing materials. Use language that speaks directly to their needs and desires, focusing on the outcomes and the feeling they will experience when working with you.
In Conclusion:
“The Right Side of the Table” encourages advisors to move beyond the purely technical and connect with clients on a deeper human level. By crafting a value proposition that highlights your commitment to understanding their values, fostering clarity, and acting as a true partner, you can attract prospective clients who are seeking more than just financial management – they’re seeking a trusted advisor who truly sits on their side of the table.
