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Insights | August 11, 2023

The Power of Assumptions

The moment your practice is introduced to a potential client, they’ve begun making assumptions about your clientele, your capabilities, your credibility, and all the other attributes that affect their decision to work with you. 

These assumptions fall into two categories: the ones they already have, by virtue of their experience and perspective, and the ones they form from the image you choose to present. 

What does your ideal client assume about you?

If the individuals you most want to reach are high-net-worth or ultra-high-net-worth, then they have lots of options for advice. The table stakes for this market are very high, and if you have the opportunity to pitch to them, they’ve likely already assumed that you have the credentials and capabilities to deliver services like retirement planning and investment management.

So spend your time showcasing what you do beyond those basic features. 

How is your retirement planning service more specialized than most? How is your investment process more personalized or sophisticated? How is your team better equipped, more experienced or more proactive?

If you can keep these assumptions in mind as you develop your outward brand, you can engage leads from your target market while filtering out the rest.

What do you want them to assume about you?

As prospective clients get to know you, you can influence the new assumptions they form about you and your practice. Your brand should convey that not only are you operating at a level that puts you in contention for their business, but you also have additional qualities and advantages that no one else does.

In these early relationships, you may not have a chance to communicate everything there is to know about your services and processes—so show examples of the kinds of specialized strategies you implement, and they can start to assume your expertise lines up with their needs. Highlight credentials that aren’t common in the industry, and they can assume you offer more credibility than other top-tier service providers. Establish the right look and feel, and they can assume you and your team are of a higher calibre. 

Assumptions are powerful because they can propel relationships forward. They leap when others walk, and it’s up to you and your brand to make sure they’re leaping in the right direction.

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