57: The Trust Formula: How To Consistently Build Trust With Clients and Prospects With Mary Schmid

The Human Side of Money

Aug 17 2022 • 1 hr 38 mins

Trust is the foundation of success in financial advice.

According to research from Vanguard, there are countless business benefits that stem from creating trust:

  • Higher satisfaction with an advisor
  • Higher likelihood of referring an advisor
  • Higher likelihood of consolidating assets
  • Higher likelihood of following advice

Other research has found that trust is the #1 characteristic clients look for in a financial advisor.

But how can you quickly instill trust into the conversation with a prospective client?

How can you consistently build trust throughout your relationship with a current client so they refer more and follow your advice?

Mary Schmid will explain how to conduct conversations that quickly and consistently build trust with clients and prospects.

In this episode, we discuss:

  • Why conversations send our brains into "Connect" or "Protect" mode
  • The conversational techniques to get someone into "Connect" mode
  • Why you should never talk about the weather
  • The trust-building power of using an agenda in meetings
  • The trust-eroding mistakes we make and never realize

*The featured partner for this episode is Knudge, an automated system to help clients follow through on their tasks and reach their financial goals.

*For more resources discussed in this episode, check out www.wiredplanning.com/episode57

*For more resources and insights on mastering the human side of advice, go to www.wiredplanning.com.

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