While spending quality time with our families at the beach, I got a chance to learn from my longtime friend, Allan Boomer. Allan runs Momentum Advisors which is a $100 million+ RIA in New Jersey. He shared with me a few reasons why his firm is rapidly growing.
On some of my recent posts, I talk about trust as being a critical quality to have in order to get BIG referrals in business. While trust is key, Allan shared with me something that shifted my thinking and may be even more important. He mentioned that in addition to trust and having knowledge, being LIKABLE is THE MOST IMPORTANT factor that must exist before clients give you referrals. He said that people must like you in order for them to give referrals. Now this comment goes in line with the often-used quote “people do business with people that they know like and trust.”
While this is such a simple attribute, it is often times overlooked in the financial services industry. For over 18 years, I’ve met clients that don’t like their financial advisors. I have worked with financial advisors that don’t like many of their clients. Also, I know many wholesalers that don’t like some financial advisors and vice versa.
Now I know you will not like everyone that you work. That’s a given. The questions I ask you: are you likable? Do your clients like YOU?
We will dive further into this topic in our next post, but I hope this question can expand your thinking and help you become a better professional today.