What Did You Say?

Have you ever seen that sign on someone's desk that said, "I know you think you understood what you thought I said. I'm just not sure you realize that what you heard was not what I meant." Its humorous on someone's desk. Its not humorous when you're communicating to a client, peer or someone you love. Yet, here lies the root of more problems than almost any other.

During the recent market crash, and throughout the tumultuous follow-up many FAs and their teams failed to maintain their relationships with their clients for fear of having to explain how they could let them lose so much money. While that's certainly understandable, it doesn't get the job done. Remember, everything you do or fail to do sends a message to your "listener" [client, loved one, staff, etc.]. Unfortunately, especially when you fail to follow up you may find that the message they receive and understand is not what you meant.

After all, who intends to tell their clients, "I don't really care about you. I only care about your money?" No one. Yet when we fail to maintain regular contact / to explain what's happening in the market and why / to review their current situation and options and offer recommendations for the future / that may be exactly what they hear.

Keep up the courtship. Take time to listen to your clients and their frustrations and fears. Be honestly sympathetic. Avoid becoming defensive. Then help them decide what to do. Thanks. kfg