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By David RichmanManaging Director, Advisor Institute

When it comes to conversations with clients, seek to understand more about them, rather than telling them all about you. In the words of Maya Angelou: "I've learned that people will forget what you said, people will forget what you did, but people will never forget how you made them feel."

The best advisors take this advice to heart, honing an "outside-in" lens in their approach to practice management by staying attentive to how they make clients feel. An outside-in lens means taking a proverbial mirror to your face, and experiencing what your clients see, hear and feel when they interact with you.

Take a moment to apply the outside-in lens on yourself and your practice. Ask yourself these two questions:

  1. What do my clients see, hear and feel when they experience me?
  2. Do I collaborate in a way that makes our relationship feel like a partnership?

When a client asks for your advice on rebalancing their portfolio, instead of showcasing your deep knowledge of tactical rebalancing, ask them, "What are you hoping to gain, and what concerns do you have?"

Asking for a client's thoughts and feelings about an investment decision, rather than leading with your own, helps them feel like an active participant in the decision-making process. It also sets a collaborative tone for the rest of the conversation, creating a more positive experience than if they were to simply listen to your advice.

Remember: clients may not remember what you say—they will remember how you make them feel.

Bottom line: As you reflect upon all dimensions of conversations with clients and prospective clients, try adopting an outside-in lens to gain a better perspective on how your clients feel when they experience you.