Key Takeaways
- First impressions are critical—and recoverable
- New clients are evaluating you as much as you're evaluating them
- Curiosity and listening win more than credentials and confidence
Your First Meeting Matters
First meetings with new clients come in many flavors:
- The skeptic who doesn't trust advisors
- The shopper who's meeting with three others
- The referral who's here because their friend insisted
- The desperate who's in financial crisis
- The know-it-all who thinks they're smarter than you
Each requires a different approach. But all of them respond to genuine curiosity and authentic listening.
Practice these scenarios to build your skills:
The Comparison Shopper
A prospect who is interviewing multiple advisors
Setup
A prospect tells you upfront that they're meeting with three advisors before making a decision. They seem to be running through a checklist of questions.
Client says:
“Thanks for meeting with me. I should be upfront—I'm talking to two other advisors this week. I want to make sure I find the right fit. So... tell me about your investment philosophy. What returns do you typically get for clients? And what are your fees?”
Practice Objectives
- 1Don't get defensive about being compared
- 2Resist the urge to "sell" yourself
- 3Get curious about what they're actually looking for
- 4Find out what "right fit" means to them
- 5Differentiate through the conversation itself, not just answers
- 6Leave them wanting more
The Crisis Client
Someone coming to you in financial distress
Setup
A walk-in arrives without an appointment. They're visibly stressed and say they need help immediately. You sense this is a crisis situation.
Client says:
“*Clearly stressed* I'm sorry to just show up like this. I didn't know where else to go. My company just laid off my whole department. I've got a mortgage, two kids in college, and I don't know what to do. My wife is freaking out. I need someone to tell me we're going to be okay. Please.”
Practice Objectives
- 1Slow down—they need calm, not urgency
- 2Lead with empathy before logistics
- 3Avoid making promises you can't keep
- 4Assess the actual situation (how bad is it?)
- 5Help them feel less alone
- 6Provide practical next steps without overwhelming
The Inheritance
Someone who just inherited significant money
Setup
A new prospect has just inherited $500,000 from a deceased parent. They've never had this much money and seem overwhelmed and a bit guilty about it.
Client says:
“I just inherited half a million dollars from my mom. She passed away two months ago. I don't know what to do with it. Everyone's telling me different things—my brother says invest it all in real estate, my friend says crypto, my neighbor says just put it in CDs. I feel like whatever I do will be wrong. And honestly? Part of me feels weird about having this money at all. It's my mom's money.”
Practice Objectives
- 1Acknowledge the grief alongside the money
- 2Reassure them there's no rush to decide
- 3Validate their feelings about the money itself
- 4Ignore the "noise" from others without dismissing them
- 5Focus on understanding their situation first
- 6Help them feel like they're honoring their mother, not just spending
The DIY Investor
A successful self-directed investor considering getting help
Setup
A prospect has managed their own investments successfully for 20 years. They're considering hiring an advisor but aren't sure they need one.
Client says:
“I've managed my own money for twenty years. Did pretty well, too—I've got about $1.2 million. But I'm getting older and I wonder if I should have someone else involved. My wife wants me to. But honestly, I'm not sure what value an advisor would add. Can you tell me what you'd do differently than what I'm already doing?”
Practice Objectives
- 1Respect their success and competence
- 2Don't try to find problems with their approach
- 3Get curious about what prompted this conversation
- 4Explore what "value" means to them
- 5Consider that they might genuinely not need you
- 6Be honest about whether you can add value