How Long Should a Wealth Management Meeting Last? 🕒

How long should you spend in a client meeting in the dynamic world of wealth management? Is it about quantity or quality, and does following the high-frequency meeting approach of big banks pay off?

🔍 Quality Over Quantity: The New Meeting Mantra

Tailored Duration: There’s no one-size-fits-all. A meeting should last as long as it needs to address the Client’s unique needs and questions comprehensively.

Efficiency is Key: Focus on being concise yet thorough. Efficient meetings that respect the Client’s time can be more effective than longer, less focused interactions.

🌟 Rethinking the Sales Approach:

Not a Sales Pitch: Unlike an investment fund salesperson, a wealth manager’s role is to understand, advise, and build a relationship, not just close a deal.

Building Trust: Frequent, shorter meetings might seem impressive, but building trust and understanding takes time and genuine engagement.

💼 What’s the Goal?

Understand Client Needs: The aim should be to deeply understand the Client’s financial goals and concerns, not to meet a quota.

Provide Value: Each meeting should leave the client feeling informed, understood, and confident in their financial strategy.

🤔 Your Strategy:
How do you approach wealth management meetings? Do you prioritise the length or the quality of interaction? What have you found most effective in fostering strong client relationships?

Source: LinkedIn