Monday, 18 June 2012

How going Low-Tech is best!

As advisers become more compliance-focused, and attain more technical expertise, there is a real risk of getting too clever - and clients not understanding what you are talking about.  It is helpful to have some simple techniques that cut through to the heart of the matter and show them precisely what you are suggesting, and how that benefits them.

Often the best way of explaining in simple terms what you are recommending is to go really really low-tech.  Use a blank piece of paper, divide it into 2 columns and put each "parties" part on either side of the page.

It captures precisely what you are suggesting; what the clients commitment is; and; what the other parties commitment back to them is.

People get it, and it is a lot more helpful than the 40 page detailed report with pie charts and graphs.

For Example:

I am not suggesting ignoring the technical information, or the necessary detail of your recommendation.  The detail is essential from many perspectives.  However, technical information should be supporting your recommendation - it should not BE the recommendation.   GREAT advisers are able to take complex technical information and deliver it in a way that clients can grasp quickly.

As Albert Einstein so famously put it:

"If you can't explain it simply, you don't understand it well enough"

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