When people were asked what they want to have more of in their financial future, health was the most popular answer
What's the Deal?
You’ve told us better conversations lead to deeper, longer-lasting relationships with clients. Research Transamerica conducted with Luntz Global Partners suggests those conversations could become even better, simply by tweaking the words we use. Beyond word choices, set yourself apart not just by how you speak but by what you speak about. Financial guidance that’s truly valuable takes into account everything that can affect clients’ personal finances, including their health. Helping people make the wealth and health connection is the first step in making sure both can last a little bit longer.
Understand What People Want
Why It Matters
We listened to consumers around the country through focus groups and surveys with Luntz Global Partners. That “listening tour” revealed three key themes influencing clients’ financial decisions:
- They want relief from uncertainty, including unpredictable medical expenses or health insurance costs.
- They want you to ease their fears, not add to them.
- They expect you to prioritize their needs over yours.
Address all of those concerns by showing you care, even in the way you communicate.
16 Phrases for Financial Professionals
The words the financial industry uses aren’t always what clients and prospects expect to hear.
Language of the Customer
Remember, a lot of clients’ frustration comes from feeling like they’ve lost control. So be prepared to be patient as you help them make decisions. Here are four general communication guidelines to keep in mind.
While fear may motivate people to act, we found they will choose to work with a financial professional who is more optimistic versus one who dwells on their fears.
In uncertain times, it’s important to show empathy by acknowledging clients’ anxieties, but remember to pivot quickly to the positive: how you can provide them with a greater degree of certainty, and ultimately, real results.
It’s about them. Clients make a high-stakes decision when they decide to place their life savings – or any assets – in your care. They need to know they can trust you completely.
The most powerful way to achieve this: Shift the focus away from you. Instead, your top priority and your top focus – at the start and end of every message, every service, and every investment choice – is your client. Period.
When your potential clients look to safeguard the future, they want to know the facts: how the markets have been performing, what options they have for retirement, and what your strategy is to deliver meaningful and measurable results for them.
Make clear that you do well when clients do well − that any measure of success is contingent on their satisfaction.