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When I’m working with a professional advisor, nothing frustrates me more than having to tell them what to do for me. They are the experts and should be the ones leading me.
Think about yourself as the client on the receiving end of services; maybe it’s a real estate agent, a contractor, or a financial advisor. Do you expect them to be the expert and guide you through the process? Do you expect them to tell you what you need to hear?
Suppose it’s a long-term relationship, such as a financial advisor. Do you expect to hear from them proactively, receive advice on changes you need to make, or start conversations about the current state of the economy in relation to your investments?
I sure do.
I'm an unhappy client when I find myself in a professional relationship where I expect guidance, and all I’m getting is production work. And I get super frustrated when I work with people who DON’T offer me advice. Why are they not helping me?
- Do they not care enough to share?
- Are they “too busy” to take the time?
- Are they afraid to speak up?
- Are they lazy and don’t want to take the time to offer observations and opinions? (I’m sure they have them.)
When a client is in this position with an advisor, there are two obvious paths for the client to take:
- Talk to the provider and ask for a change in the relationship.
- Find someone new.
Since most people don’t want to experience confrontation and have uncomfortable conversations, Option 2 is the most likely selection.
What about you?
Where do you fall on this scale of being an advisor? Are you leading clients, offering them guidance and advice, and helping them keep their businesses on track?
Or are you simply offering transactional production?
Think about it.
There’s a critical distinction between providing reactive production work and offering proactive guidance. As advisors, it's imperative to be more than task-doers.
“Production” is akin to placing an insurance policy and answering calls when the client has questions. Yes, all insurance advisors need solid production capabilities, but few will bring the critically important conversations.
Advisory services
A different type of relationship develops when someone looks out for you and offers advice rather than only doing what you ask. You feel secure knowing someone has your back; you can step a little farther, lift a little more, or go a little faster.
That’s what it’s like when you work with a business advisor watching out for your business. You’re not the only one who has to do ALL the lifting ALL the time.
Being an entrepreneur is such a big job. It’s idealized, especially for younger generations, whose feeds are filled with messages of side hustle, get ahead, be your own boss, and do it on your terms. They promote the glamorous idea of owning your business, making your own schedule, and working from anywhere you want! It’s the ultimate lifestyle!
They don’t tell you that you’re also in charge of HR, accounting, taxes, hiring, firing, team development, processes, discipline, communication, planning, product development, partner decisions and management, account management…should I go on? Oh, and let’s not forget all the icky situations and decisions that need to be made that all fall to YOU.
Our propensity to avoid telling people uncomfortable things is unhelpful. 🙄 But that is exactly what people need – the truth, not the glossed-over glamor.
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I’ve got your back
When clients hire an employee benefits advisor, they’re typically not just looking for plan placement and claims servicing; they’re seeking a partnership. They want a business advisor who watches out for their interests and provides insights beyond the obvious.
Proactive advisors think about the client’s business and offer unsolicited ideas, even when they’re uncomfortable with the conversation. Some things may require the client to make a change they will not want to make, but that shouldn’t stop you from having the conversation.
I cannot overstate the importance of having people watch your back and be in your corner. People who will think about your business, help you with those tough decisions, talk through the icky stuff, and hold your hand while you make those difficult moves are invaluable to business leaders.
Change your role
If you’re not currently playing this role for your clients, I strongly encourage you to consider it. It may be uncomfortable to offer unsolicited advice, but that advice may change someone’s business or life.
They’re counting on you. They need you.
Employee benefits agencies are in the perfect position to play that role. You know about a client’s finances, leadership, employees, vision, and values - you can offer them a gold mine of perspective from an “outsider” point of view.
Whatever the case, I 100% believe we have a fundamental obligation to offer insight and advice to help someone improve their business.
This is exactly what we do for our Goose clients. We think about your business, the next steps you need to take, what you need to consider, and how you can get it done.
We have your back. We are your ultimate wingman.
How can you play that role for your clients?
Content originally published on Q4intelligence
Photo by Manpreet
