Morningstar article

With all the talk about life planning, dream books, and other methodologies for going deeper into clients' lives to provide more-meaningful planning results, our industry has almost completely overlooked the science of neurolinguistic programming.

Fortunately, we have Michael Lovas and Pam Holloway, cofounders and principals in the Spokane, Wash., firm of About People to show us the way. With combined backgrounds in neurolinguistic programming, hypnotherapy, human dynamics, health psychology, cognitive science, and organizational behavior, Lovas and Holloway have just a few opinions about what's lacking in our communications with clients.

But their primary assertion is so simple and straightforward, you'll be surprised you never thought of it. "We discovered this truth almost by accident," Holloway said. "I wrote an article on credibility and likability for the broad market about a year ago that was reprinted in many publications. As a result, we got calls about speaking and one inquirer misread our title; he wanted us to talk about credibility and likability. I started to say, 'They are two different presentations when I realized they shouldn't be. Credibility and likability are the yin and yang of success with clients."

Lovas confirmed this. "In every article I write describing how an advisor gets credibility, I tell the reader being liked is the first step,: he said. "Why? Because people won't give you time to prove your credibility if they don't like you."

Simple but Profound
On the seemingly reasonable assumption that likability is something one makes judgments about rather quickly upon meeting a person for the first time, Holloway said, "We've been studying what goes on in someone's brain during the first few seconds of meeting another person." In conversations with academics studying these traits, Holloway said that the first thing the human brain picks up on is trustworthiness. "We have a natural DNA for detecting trustworthiness. It's usually decided in a matter of seconds, and it's something we make judgments about via the written word as well as in first-person encounters," she said.

Trustworthiness, in turn, is something we must cultivate. "If we think about 'David J. Drucker' as a brand," Holloway said, "you protect that brand by taking a consistent and congruent approach [in your interactions with people], both in person and in print, and people extend their trust based upon your consistency."

"Everyone has a balance sheet in his head," Lovas said, "whereby they unconsciously calculate people's inconsistencies. If I'm showing you one thing but saying something different, you'll feel uncomfortable because things don't add up." Maybe your PR firm has helped you write a book--a method many consultants advise to establish credibility. That's well and good, Lovas said, "but if you open your mouth and contradict the credibility of your book, people will know. We can coach advisors in presenting themselves and we can give them credibility marketing pieces, but if they're not credible people, these strategies will backfire."

(To read the entire article, link to:  http://advisor.morningstar.com/articles/doc.asp?docId=14055

IN CONCLUSION.  David's article discusses the work and research Pam and I have been doing for many years in the area of financial advisor credibility.  If you have questions or want to learn how you can improve your own credibility, either request our free report "10 Ways to Improve Your Credibility," or just give us a call:  509.465.5599. 

Michael Lovas
Pam Holloway