Coach’s Corner

Today's dynamic markets should make for interesting first encounters at upcoming Fourth of July gatherings. When it comes to making these encounters count, consider harnessing the power of a "curiosity gap"—the space between what someone knows and what they are intrigued to know.

A pithy ism (timeless sound bite conveying your financial beliefs) or thesis (timely statement about market conditions) can help you create a curiosity gap that leaves people wanting more.

Let's borrow an ism and thesis that Jim Caron, Co-CIO of the Global Balanced and Risk Control Strategies at Morgan Stanley, revealed in a recent Caron's Corner episode, to illustrate how a curiosity gap can generate follow-up calls.

John: "Oh, you're a financial advisor? What are your thoughts on the markets and the timing of a recession?"

Advisor: "While that's a popular question, we are considering alternative ones, as we believe that assessing market direction requires asking the right questions (ism)."

John: "And what are those questions?"

Advisor: "Given the fireworks are about to begin, how about we schedule a follow-up call to discuss?"

Now let's borrow one of Jim's current theses to illustrate how a curiosity gap can generate first meetings from follow-up calls.

John: "So, what are those right questions for assessing market direction? I'm particularly interested in when you think a recession will happen and what to do in anticipation."

Advisor: "The first question is 'How deep will a recession be?', as opposed to worrying about when it might happen. Right now, our analysis has us betting on a non-hard landing."

John: "So what does that mean for my investments?"

Advisor: "We believe it's better to be balanced than defensive right now (thesis)."

John: "I'm curious what that means for me."

Advisor: "Perhaps it makes sense to explore that in a meeting."

Bottom Line: An intriguing ism and thesis can help you build a curiosity gap and turn first encounters into first meetings.