"You're Welcome." Little Words Can Make a Big Difference to Your Clients

"You're Welcome." Little Words Can Make a Big Difference to Your Clients

“You’re welcome.”  It’s a phrase that every one of us learned to say when we were young.


Not just to be polite, but to express our willingness to give something—our time, money, or thought— to someone else. But in today’s increasingly casual world, the words “you’re welcome” seem to be falling by the wayside. I’m on a personal mission to bring them back.

Say thank you to a restaurant server, and many times, the reply you’ll get is a careless, “No problem.” No problem? I hope it’s not a problem for me to pay to for my burger and beer.  And by the way, as the customer, isn’t is it my call as to whether there is a problem or not? Sheesh. Say thank you to anyone—from a cashier to a banker to a close friend—and an off-handed “sure” is the likely response. The unrequited thank you is just as prevalent on radio and television: the host thanks the guest for coming on to the show, and the response is not “you’re welcome,” but “Thank YOU!” There are now billions of thank you’s out there waiting for a you’re welcome.  They are figuratively starting to pile up on our streets and in our communities.  Like sentences without periods, boomerangs waiting to return the unfulfilled thank you is more than an unfinished social nicety, it can be a missed opportunity. Now is the time to make a change.

As an advisor, your client relationships drive your business. If you’re guilty as charged of taking your clients’ thank yous for granted, here’s why you need to change your ways and your words:

Talking about money makes your clients vulnerable.


Amy Florian, the author of No Longer Awkward: Communicating with Clients Through the Toughest Times of Life, gets it. Whether your clients are coming to you in times of crisis like a divorce, death of a spouse, or financial dilemma (which Florian covers in detail), or times of opportunity like a marriage, career promotion, or inheritance, many conversations about money are charged with emotion. To help advisors avoid the trap of using language that unintentionally alienates distressed clients, she offers specific suggestions for how to respond appropriately to clients. “You’re welcome” is just the beginning when your client is in crisis, but it’s an awfully good place to start. 

Your words have the power to strengthen your client relationships. 


I’m no psychologist, but I know the impact that words have on my own relationships with people. If I can tell someone is taking in what I’ve said and responding with a thoughtful reply, it tells me not only that they value what I have to say, but also that they know I value what they think. By choosing your response and your words carefully, you are telling your clients that you’re really listening. Assuring them that you care about what they think and what they feel is the strongest relationship builder there is.

Careless language can be misinterpreted as careless business.


I’m not suggesting that every word you say should carry the weight of the world, or that you only use highly proper language when speaking with clients. Every client is different, and it’s important to adapt to your audience. But there’s a big difference between being welcoming and friendly, and being so casual that you appear careless. An offhand comment or careless response to a question can be translated into “You don’t take me seriously.” In many cases, your clients are entrusting you with their life savings. That’s business that should never be treated lightly. 

It may sound petty, and I might sound like an old guy ranting on the demise of the English language, but details matter. Words matter. And as an advisor, paying attention to the words you speak to your clients is a critical part of your communication. Saying “You’re welcome” is another way to say, “I hear that you appreciate what I did to help.” That’s something that can be important to say, even if the words sound automatic. Even better, it opens the door for you to continue to help—and that’s what being a trusted advisor is all about.

Let’s face it: it’s hard for people to talk about money. As an advisor, it’s your job to try to make the conversation as easy as possible and to be sure your clients feel that their fears, joys, and expectations are being heard. When you’re able to help, whether that’s with a kind word or the financial guidance they need to take the next step, their “thank you” means a lot. Treat it with the respect it deserves, and fill your “You’re welcome” with the same amount of care. All those forgotten thank you’s that are piling up around us will someday thank you in the end.

Bill Acheson
Investing in Life
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Bill Acheson is Chief Financial Officer of GWG Holdings, Inc. Bill is ideally suited to inform financial professionals and investors about specialty finance, alternative inves ... Click for full bio

Most Read IRIS Articles of the Week: April 17-21

Most Read IRIS Articles of the Week: April 17-21

Here’s a look at the Top 11 Most Viewed Articles of the Week on IRIS.xyz, April 17-21, 2017 


Click the headline to read the full article.  Enjoy!


1. Market Keeping You up at Night? Look for the Right Hedge


Like so many others in the industry, I was wrong. For years, I was certain that the bull market was nearing its end. I thought the market was over-extended, and that, surely, the wild equities run was coming to an end. But everyone else was bullish, and perhaps rightfully so. And while I’ve watched equities continue on their spectacular rise, I do think now is the time (really!) to put a hedge in place. Here’s why. Here’s how. — Adam Patti

2. How to Manage Bond Market Pain and Seek the Gain When Rates Are Rising


The realities for fixed income investors have changed. How is this being reflected in markets? Bond investing has become increasingly difficult over the past decade. Markets have been heavily distorted by ultra-low interest rates and quantitative easing, as well as by extreme risk aversion in response to the global economic crisis and the eurozone debt crisis. — Nick Gartside

3. Seven Reasons You'll Fail as a Financial Advisor


Is being a financial advisor worth it? I am an optimistic person and I encourage other people to keep a positive mental attitude (shout-out to Napoleon Hill and W. Clement Stone). However, by taking a good, hard look at the negatives in life, we can successfully pivot towards the positive aspects that will help us achieve our goals. — James Pollard

4. The Secret to Turning Every Prospect into a Client


How do you treat one of your most valued, existing clients? Here’s a list of some things that come to mind. — Andrew Sobel

5. Why Do Clients Change Advisors?


According to many advisors I speak with, the only clients that leave are those who have died. And while attrition may not be a big problem in this industry, I have to assume that at least a few clients change advisors without doing so via the funeral home. — Julie Littlechild

6. Why You Should Focus on Getting Referral Sources


I was talking with an advisor last week about how to get into conversations about what he does. He was relaying the story of going jogging with a friend who could be a good client but is, more importantly, connected to a large network of people who fit this advisors ideal client description. — Stephen Wershing

7. How Big Picture Thinkers Seize More Opportunities in 7 Steps


Big picture thinkers are not unicorns - rare and mystical. And they were not born with the innate ability to think big. They do, however, pay attention to the broader landscape and take the time to think, analyze and evaluate. — Jill Houtman and Danny Domenighini

8. 5 Actions to Build Your Reputation


Your reputation is who you are and how you show up, Monday to Monday®.  Many of us take our image and reputation for granted.  Give careful thought to the kind of reputation that you would be proud of Monday to Monday® and that would resonate with your purpose and priorities. — Stacey Hanke

9. How Are You Poised to Begin Welcoming GenZ to Your Workplace?


The generational changing of the guard is a fact of life as old as time. Young replaces old in responsibility, importance, control and culture. Outside of the family, the workplace is perhaps where this is seen most regularly by most people. — Shirley Engelmeier

10. Are Price Objections REALLY Price Objections?


Next time you hear your prospects give you price objections, it’s not because of the price. The give price objections because they don’t know the full value proposition that they’d be paying for. And it’s not based on their need, or your features and functions. It’s based on the buying criteria they want to meet internally. — Sofia Carter

11. Understanding the Economic Value of Transition Deals


Last week we wrote about the economic rationale behind going independent vs. moving to another major firm as an employee. As a follow-up topic, we thought it prudent to analyze transition packages attached to big firm moves and peel back the layers of the onion to show the components of these deals. — Louis Diamond

Douglas Heikkinen
Perspective
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IRIS Founder and Producer of Perspective—a personal look at the industry, and notables who share what they’ve learned, regretted, won, lost and what continues to ... Click for full bio