Tell the truth and give them some sound advice about what to do next that doesn’t include you. This is why the language BEFORE the Commitment to Hire Conversation™ is so important. It gives you a chance to reflect how the Financial Road Map Interview™ has gone so far and make a good decision about whether or not you want to offer to be hired.
Their answer to the question: “What’s the value to you of the work that we’ve done so far in putting together your Financial Road Map®?” will affirm whether or not you were right to decline the opportunity to be hired. You can, however, offer some logical next steps for them. They may want to:
- ask their friends and family for referrals to the advisors they work with, take their Financial Road Map®, and meet with a few advisors to find out who they think can best help them actualize what’s on their Financial Road Map®.
- Refer them to another advisor at your firm or in your area who uses Values-Based Financial Planning™ and who would be a better fit.
- Tell them to read the chapter in the Values-Based Financial Planning™ book about how to find a good advisor and follow that process.
- Or whatever else you think is good advice.
Just be honest and don’t feel guilty. This is your business. Keep your business and your charity separate. You have an obligation to your family and your clients to run a good, profitable business so you can be of the most value in both your personal and professional life.
If they want to know why they cannot hire you, tell them the truth.
- We’re just very selective about who we do business with and chemistry is very important. I didn’t really feel that we connected to well. What did you think?
- We are devout implementers of Values-Based Financial Planning™ and I had the sense that you were sometimes just going through the motions of answering the questions and weren’t really all that into it. It’s okay. You can be honest with me. Was I reading you right about that?
- We work only with what are called “financial delegators” which means that you trust me completely and do whatever I advise you to do, pretty much no questions asked. I don’t get the sense that this is the kind of relationship you want to have with an advisor. Did I read you wrong about this?
- We love to help people make smart financial choices and we have a business to run. Our minimum annual fee is $5,000 and based on your financial situation I would not be comfortable charging you that much. Therefore, I think I can give you some good advice on how to find an advisor who will be a better fit for you.
