“Too many people overvalue what they are not and undervalue what they are.”

—Malcolm Forbes

As Mark Twain said “The two most important days in your life are the day you are born and the day you find out why.” Why am I dedicating a whole chapter on emphasizing that the advisor is the solution? Because we spend a disproportionate amount of time on products, platform, price, tools, technology, marketing, and so on. These things are not differentiators, they are important and foundational, but people buy people. They do business with people they like and trust.

I know that for many people, finding their calling in life can be a frustrating journey. For those who do find that perfect job or passion, you can see it in their eyes. You can see that they love what they do. When clients can see that passion, they see why you do what you do. Since you are ultimately what the client is buying, it may help to discover how you can be more passionate for your business and how you can create a brand that's more aligned with who you truly are. For some, the statement, “You are the solution,” makes perfect sense, but others may immediately begin shaking their head. But what does “You are the solution” really mean? Start by thinking about your brand. When it comes to well‐known brands like BMW, Nike, and Apple, we all feel and think something when these companies come up in an ad or in conversation. We all have certain expectations of their products. When I think of Ritz Carlton, I think classy, professional, and ladies and gentlemen serving ladies and gentlemen. I expect my expectations will be met or exceeded when I am staying at one of their properties. If I shop at Norstrom's I have an expectation.

When your clients think of you and your brand, what comes to mind? After meeting with a prospect for the first time, what three words will she use to describe you after the meeting? Are you sure that the way you see yourself is aligned with the way clients or team members see you? Whatever brand you think you are, take a step back and make sure to ask for feedback. The goal is for you or your firm to be viewed exactly as you want to be viewed. You are the solution; people buy you.

What's Your Likability Index?

Since people began transacting business, people have preferred to do business with people they like and share similar values. Far too many advisors put on masks when they meet with clients because they are leery of revealing their true person. They are afraid of being vulnerable. But being vulnerable, showing that you are not superhuman, that you have fears, that you have made mistakes, is an essential part of showing your client your humility. Why is that so important? By definition the phrase value add means something that's above ordinary. And because you are the solution, you have the ability to be different since the product itself can't be different. Plus, once the real you shows up, the client is more likely to open up and reveal her true goals and aspirations. So the only way for you to be the solution is to start by being authentic. When tempered with competence and confidence, successful advisors are as comfortable showing vulnerability as they are in highlighting their successes.

Personalized Service Matters

Personalized service and customized solutions are the chief ways to keep affluent clients happy. While it may be more convenient to do business over the phone or via email, you build a higher level of trust when you truly understand a client's fears, dreams, and their hoped‐for legacies. This kind of relationship can only develop when you are sitting directly across from someone on a regular basis, not just once a year.

If you are working for one of the top‐10 firms in the world with a strong brand image, you may have an initial competitive edge. Through millions of marketing and advertising dollars, their branding strategy creates the perception of trust, professionalism, integrity, and leadership, which may have helped in bringing the client to the firm in the first place. Although this may initially give you a foot in the door, it is the way you conduct yourself and run your business that will very quickly become the image your clients associate with your firm. They trust in you to make sense of the volumes of information and plethora of products they are offered and to consistently scan the universe to seek out the best solutions for them. In the eyes of your clients, you are ultimately the brand or product—the solution—in which they are investing. This leads you to clearly articulate who you are, what you do, and what makes you different. I strongly encourage you to do this exercise with your team. You need to think about the questions as they pertain to your model specifically, but I provide you with sample questions and answers so you can see the exercise in action. (Don't take a shortcut and just copy what I wrote here. You will only reap the benefits by building the answers in a collaborative environment with your team.) Believe in what you come up with, articulate it with passion and speed, and, most important, be able to deliver on it.

• Who are we?
• We are a team of experts dedicated and passionate to serve high‐net‐worth clients and institutions. We work collaboratively to bring the best solutions to our client.
• What do we do?
• We help individuals achieve their financial goals by delivering customized wealth strategies solutions. We provide peace of mind by proactively understanding your needs and working tirelessly to exceed your expectations. We do not push product.
• How do we do it?
• Our client‐centric and solutions‐driven philosophy starts with a deep understanding of our clients' goals, objectives, dreams, and aspirations. We deliver a customized plan and service model based on this discovery meeting and ongoing dialogue. Our customized and comprehensive wealth plan guides our strategy and tactical plan. We monitor progress to the client's specific plan and adjust it to keep pace with any changes in the client's life.
• Whom do we serve?
• Our model, expertise, and team focus on high‐net‐worth individuals and institutions that demand more customized and personalized attention. We work with entrepreneurs, accounting firms, senior executives, and specifically women executives.
• What makes us different?
• We deliver a truly integrated wealth management offering and world‐class service excellence. We pay attention to the smallest details and we are passionate to help you reach your goals. Our team approach gives you the depth and breadth of a complete life plan and we are with you side by side on the journey.

The Six Cs of Loyalty

A study of 1,417 affluent clients conducted by industry researchers Russ Alan Prince and David A. Geracioti revealed that wealth managers can create client loyalty by focusing on the six Cs:

1. Character: Integrity is the most important quality for all clients; they must believe that their advisor is honest at all times.
2. Chemistry: Advisors must be in sync with their clients. The advisor and client should share similar values and can quickly and easily connect on an emotional level.
3. Caring: The reassurance that the advisor really knows the client's goals and objectives.
4. Competence: The perception that the advisor is a smart and respected professional in the field.
5. Cost‐Effectiveness: The belief that the client is receiving genuine value for the cost of the service and products provided.
6. Consultative Insights: The definition of the entire advisor–client relationship as an ongoing partnership over time and, as such, probably the most important factor. Wealthy clients prefer a collaborative relationship. An advisor can build loyalty by contacting these clients appropriately (not just concerning their money) and customizing any communication, as such clients are not interested in generic off‐the‐shelf presentations.

These six Cs can help shape, define, and communicate the advantages of the most important product you are selling—yourself. Building loyalty is also about managing client expectations. Ultimately, the wealth management process should include a commitment to contact clients a minimum of 18 times a year. According to Prince and Geracioti, this level of contact results in the greatest level of client satisfaction and loyalty, as well as the greatest likelihood of receiving additional assets and ongoing referrals.