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How to Talk to Affluent People Without Sounding Tacky with Charlotte Beyer

Charlotte Beyer offers valuable tips on how financial advisors should talk to wealthy clients and prospects so to avoid sounding tacky.

I was honored to interview Charlotte Beyer, founder of the Institute for Private Investors and the Principle Quest Foundation, because she is someone for which I have great respect. What I love about Charlotte the most is her tactful ability to straddle both sides of the wealth management line between advisor and investor; she allies with the investment community at the same time as acting as an advocate who truly understands the challenges and struggles that wealthy families face. Advisors can learn a great deal from Charlotte about how to communicate with affluent people without sounding like “that advisor” and the mindset you should embrace if you want to be successful in earning their trust.

In this episode of the Sara Grillo podcast, listeners will learn:

[0:45] What Charlotte is working on nowadays. She sold her company, The IPI, and decided that she wanted to make a difference in the world for women by creating her foundation.

[3:14] Examples of how most advisor marketing fails to connect and empathize with the affluent families it is intended to reach: cliché, jargon, being too shallow and not really getting to the real issues, peppering with bad or overly simplistic questions, reading from a script, and/or being just downright boring.

[4:14] Charlotte explains the origin of bad advisor marketing. Where does it stem from? The answer will surprise you.

[5:20] What Charlotte recommends as the right questions that advisors should ask. Try these, advisors!

[7:13] The #1 thing advisors should do to put investors at ease, according to Charlotte, right at the start of the meeting.

[9:40] What smart firms do to maximize the soft skills an advisor needs: empathy, listening, nurturing, caring.

[12:46] What style of fee Charlotte finds that investors prefer instead of an AUM fee – a smarter way to charge fees based on complexity and time spent rather than just the straight 1%.

[15:00] Charlotte’s 10 principles for successfully working with clients. Hint: for more information, read her book Wealth Management Unwrapped (info below).

[19:55] Rip up the marketing brochures! Rip up the marketing brochures! But, if you have to do one, here’s what Charlotte suggests.

[21:56] The value of creating a community of trusted peers for your wealthy clients and why it will make a difference in your practice.

[25:00] The way to ask for feedback from your clients without coming off as awkward or making them feel uncomfortable or annoying. You need to know this information – you need to be this self aware as an advisor – if you want to create a powerful brand. You are not going to weaken the relationship if you ask the right way – you are going to do the opposite and strengthen it.

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Resources cited in this show

What Rich Clients Really Want vs. What Financial Advisors Say = Total Disconnect by Sara Grillo. Read it here:

Wealth Management Unwrapped by Charlotte Beyer. Get it here: