Episode #20: Unpacking Client Personalities

Today’s Prep:

We work with all sorts of personalities. After all, everyone has their own approach to retirement. Discover your personality when it comes to financial planning.

Equipping Points:

00:46 –  Different Personalities. 

  • We work with all sorts of personalities, and we’ve noticed a trend amongst our clients. Eric outlines the different personalities we’ve seen. See whether these examples might apply to you.

1:19 – The Victim. 

  • The victim has been burned by a broker or an advisor in the past. They believe everyone is out to get them. If you’re a victim, you really want to protect your wealth. In order to work with the victim, we have to demonstrate the value we can add as their advisor. It could take hours to build a level of trust with this type of client before they decide to work with us.

3:15 – The Over-analyzer.

  • Over-analyzers think through every little detail. They’re the type to have in-depth spreadsheets outlining where their money is going. Over-analyzers tend to suffer from analysis paralysis, meaning it’s really hard for them to make a decision. For the over-analyzer, every decision could be the wrong decision. If you’re an over-analyzer, you have to realize there’s no way you could possibly make the perfect decision every single time when it comes to investing. It’s impossible to time the market, and it’s also impossible to predict exactly what will happen to you in retirement. That’s why it’s important to work with an advisor. Your advisor can take away the stress and free you to focus on what’s important to you in retirement.

Today’s Takeaway:

“Retirement is supposed to be going out there and enjoying yourself, enjoying the time you’ve worked so hard for…it’s not doing spreadsheets and looking at the market every single day. That will drive you nuts. – Eric Peterson

More From Eric:

The host: Eric Peterson - Contact - Call: (515) 226-1500

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