The University of Missouri released a study called the “2006 Survey of the Elements of Communication That Affect Trust and Commitment in the Financial Planning Process.”

It suggests that planners and advisors who best understand the core values and interests of clients are more likely to lead them toward truly rewarding investments. Nearly 83 percent of clients and 84 percent of advisors agreed that they must understand a client’s values and priorities before they can give effective financial advice. (This is the idea that underlies the trend called “Life Planning.”)

Listen. In the course of a conversation, a person will express his values. Simply initiate a conversation about a specific topic, something of importance that the client wants to fund or save for. As he mentions values, just write them down.Why is this important to you Values are actually subconscious power sources. They serve to provide you with energy. So, you can think of values as the things in your mind that motivate your decisions and give you energy so you can perform the activities necessary to bring your values to life. Knowing this, doesn’t it make sense that you would need to learn what your best clients’ values are

Most people see a credibility gap as the difference between the credibility you possess right now and the credibility you need right now. That perspective is impractical. It’s like working to decide what you should have done months or years before. Perhaps a better approach is to look at your own credibility gap as it affected by time. In other words, when do you need your credibility, in relation to when you start working on it. If you need credibility today, do you have it? If not, how long ago should you have started working on it?

As a practical example, let’s take the current economic situation: a downward slide. When your clients freak out over it, who are they going to call? Who are they going to blame? Who are they going to replace? You?

Let’s look at this question a different way. Which of the following do you think will help you most to weather that scrutiny? Your product selection? Your firm’s advertising campaign? Marketing materials? The back office support? Your technical skills?

Unfortunately, none of the things you use to build the operations side of your business will work to improve your credibility. While those things may be important to you, they are likely to be of zero importance to your clients and prospects.

• Bottom line: our credibility is entirely in the hands of other people who don’t know or care about the technicalities or details of your business.

  Your clients can take comfort that you are there – but only IF you have already built your credibility with them. If you have not already taken the specific steps to build your credibility in their eyes, you’re already losing the race.

• Building your credibility takes time. You can’t do it overnight.
• Credibility is not the result of an event. It is the result of a scientific process.
• You can’t do it by getting a designation or by delivering a seminar.
• There is no silver bullet.

The Payoff – once you have attained credibility with someone, you open the possibility of being embraced by that person, thus launching a client relationship, one that will bring you referrals.

However – in order to do that, you have to learn the steps of the process, then strategically put each one into play. With each step, you increase your credibility a little more. The more you know about the process, the better prepared you will be to create opportunities and improve your credibility.

We’ve identified the four major steps in the process, and the variations of each step. In this space, I will illuminate and explore what the different steps are and how you can put them to work for you.

You can’t improve your Credibility if you don’t know how. So, want to improve your Credibility? Let us help! Just contact us via our website: www.aboutpeople.com

– Michael Lovas

For many years, Pam and I have been fascinated by the sales trainers of the world. Most of them approach selling as thought the buying decision is purely a function of superficial manipulation. Duh. Truth is, buying decisions are the products of a brain function, and the area of the brain that controls it is the same one that causes you to run like hell from a threat.

It’s called the Amygdala. What makes it so fascinating is that it’s part of what we call the “old brain.” That’s the most primative part of your brain. Its function was self-protection, self-preservation and procreation.

Today, we don’t worry about a T-Rex munching on us as a between-meals snack. But the Amygdala goes into action every time a sales person approaches you. Or, conversely, every time you approach a prospect. To the Amygdala, there is no difference between:

Tiger or pharmaceutical company
Snake or insurance agent
Angry dog or proctologist

If you are interested in learning how to make the Amygdala work for you, instead of against you, then visit this website http://www.whalenlab.info/ And, keep watching this blog for tips and information on how you can use science to make your job easier.

Michael Lovas

As we research Professional Credibility and uncover the specifics of what you can do to become more Credible, we post our new findings right here. We know of no one else who uncovers these juicy nuggets of science that serve to help you increase your Credibility. Here are a couple now: