A difficult prospect will become a difficult client.

3 Signs of a Difficult Prospect

In order to be a successful financial advisor, you have to focus on growing your business. As you work to grow your business, it’s important to focus on quality and not quantity. Focusing on quality helps you weed out a difficult prospect before they become a difficult client. Some clients start out fine and become difficult over time, but in most cases they were difficult from the start. When your prospects show you who they are, it’s up to you to determine if they’re a good fit. When you’re meeting with prospects, be on the lookout for these signs.  

They don’t value your time

No one likes having their time wasted. If your prospect misses meetings or calls without warning, it’s fair to think that they aren’t serious. If it happens once, there’s the understanding that things come up. When it happens a second time, it’s better to let the prospect go and focus on people who do want your services. You can also apply this to a prospect who stops answering or returning calls. People who want to work with you will make themselves available to you.

They aren’t open about their finances

Money is an emotional topic for many people, and they may have a hard time discussing the details. Unfortunately, you can’t offer guidance if they’re unwilling to be open and honest with you. You are there to help, but situations like this may be beyond your abilities. When that’s the case, referring them to a financial therapist may be the best option. Another version of this is that they give you details, but the things they’re telling you don’t add up. The worst case scenario is they’re into something shady, but they’re probably hiding debt or bad spending habits.

They expect you to work miracles

There are prospects who will contact you with unrealistic expectations. The good ones understand and will move forward with the conversation. The difficult ones will push back and insist that you don’t know what you’re talking about. You’re a great financial advisor, but you can’t make the truly impossible happen. Save yourself the time, and let these prospects go. Better clients will come your way. 

There are situations where it’s hard to turn a prospect away. It’s even harder when you’re trying to grow, and they’re the key to meeting a goal. In the long run, it’s not worth the trouble or the time that dealing with a difficult prospect will take. 

If you’re ready to get serious about growing your business, contact us now to schedule your assessment.