People aren’t as set in their ways as you think.
February 06, 2017

People aren’t as set in their ways as you think.

People dislike change. Unless the prospect is wildly unhappy and you catch them at the perfect moment, there is little chance they’ll make the change you want.

It’s easy to come to this conclusion after prospecting for any period of time. After all, the path of least resistance is the preferable one, and it seems much simpler to stay with your current advisor than to try someone new.

But what if you’re focusing on the wrong thing? What if they aren’t actually that resistant
to change?

Here’s some food for thought: If you’re not offering anything they perceive as valuable, doesn’t it make sense that they would say “Sorry, I’m happy with my current advisor.”?

I think there are also a lot of people who will do whatever it takes to get an edge. These are people who are always looking for something better, who will jump at the chance to
get more for their dollar.

All this means is that you need to give them a better reason to switch — something that makes them want to put in a little extra now in order to get the payout later.

From my experience, I’m inclined to believe that it’s advisors, not prospects, who are particularly set in their ways. Most have been trying the same growth tactics over and over — tactics that worked 20 years ago — when the reality is much different today.

The bottom line? If you’re met with the same answer every time, try changing the question.

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