Getting People to Do What Every Instinct in Their Body Tells Them Not to Do

Let’s think about it. A financial adviser (planner/coach whatever) doesn’t have a fun job. That’s because our job is basically to get people to do what every instinct in their body tells them not to do!

We ask people to save money. That’s delayed gratification. And who knows, if someone dies young, it’s permanently delayed gratification.

We ask people to spend money on things they pray they will never have to use. Look at insurance for example. Has anyone ever lamented not using their insurance in any given year? Do you complain that your life insurance or disability insurance or liability insurance goes unused???

We ask people to pay off debt faster. Why the rush? Again, if someone dies young, what benefit came from this?

We ask people to have serious conversations about such exciting topics as: their death, their disability, their children getting divorced and more.

When you think about it, this job can be downright unpleasant at times! And to top it off, the payoffs are intangible. When someone deals with a Realtor, they often have a new home. And if someone walks out of a Tesla dealership, they have one of the neatest cars on the planet. But with advisers, what do people get? They get a “feeling” of getting organized, or of “getting things squared away.”

However, before you get too much of a “feeling” that I am being overly negative, there is a good side. Advisers know that in the future, whether a good thing happens - a goal accomplished on plan - or a bad thing - an unexpected accident - they know they did what was right to make sure that from both the offensive and defensive sides of the ball, they helped the client prepare like Bill Belichik prepares the Patriots for a game. One big difference from football is that advisers may or may not see the end of the game. But they don’t have to see it to know the plan is in place.

This is why a true adviser’s job is to tell you what you need to hear, whether you want to hear it or not. If you’re working with me, you may not like what I have to say all the time, but it’s what you need to hear. And it is my job to tell you.

What is the value to you of a true long-term financial advisor relationship?

Cover photo source: Flickr