Nailed it...

It’s 10.59 am on a November morning in 1988.? I’m winding up a meeting with an upmarket IFA in Walton-on-Thames, Surrey.

I work for the life office National Employers Life as a Broker Consultant; the firm of financial advisers has just been handed over to me by my boss Dennis – a highly experienced Senior Broker Consultant and one of the company’s top performers.? The financial advice firm regularly passed him business, but a panel reshuffle meant that the account was now to come under my wing.? I was excited to get my teeth into them.

The vampire analogy was a good one, for what was about to happen took us all by surprise.

It turned out that the firm of advisers was quite old school, and at 11am on the dot, the managing director Doug asked us if we would like a drink, and before we knew it a decanter of gold liquid was produced from a smart wooden cabinet.

In fact the whole office was quite smart and decorated out with antique mahogany Georgian furniture, brass light fittings and a thick wall-to-wall light cream carpet.? For the late 1980s this seemed to my inexperienced eye to be entirely appropriate for a financial advice firm of its quality, whereas today it might seem a little ostentatious – even for the most upmarket of high-net-worth clients.

We enjoyed our drinks and after two refills got ready to depart.? I reached down to push my chair back, and without initially noticing, sliced open the middle finger of one hand on a similarly antique nail that was protruding from the underside of the chair.

Initially I felt nothing, having been partially anaesthetised by three doses of single malt, but as I reached down for my briefcase, I did notice the blood that was starting to pool on the cream carpet.? Dennis noticed it too.

I then caught site of its source – a large open gash on my finger.? Then came the pain, then the expletives and then the panic as to what I should say to Doug.

Dennis though seemed to have matters under control, and always a snappy dresser quickly reached for his pocket handkerchief, which I initially thought he was going to use to thankfully staunch the flow of blood.? But with an astonishing lack of household cleaning skills attempted to wipe the blood from the carpet.? You can guess what happened.

To this day I couldn’t tell you how to remove (a lot of) blood from a cream carpet.? Do you pour salt or white wine on it?

Doug was horrified and could clearly see a claim on his public liability insurance on its way and apologised profusely.? From where he was on his side of the desk, he couldn’t yet see the full state of his carpet, so we quickly made our excuses and headed for the nearest A&E muttering about tetanus and shoddy craftsmanship in the late 1700s…

This is a true story, and one of many from forty-six years working with financial advisers, but one I remember with a mixture of shock, horror and still wanting to make it up to Doug (and Dennis).

The mishap with the protruding nail was the last thing I was expecting to happen and could never have been planned for.? Yet in marketing, unanticipated challenges (or opportunities) arise all the time.? Financial advisers, much like myself in the story, often step into situations with a set of expectations, only to find that reality presents a completely different scenario, so it’s crucial that advisers are prepared to pivot their approaches when the unforeseen happens.

And just as the antique setting concealed a hazardous nail, many conventional marketing techniques can sometimes hide pitfalls or become ineffective in today’s modern dynamic marketplace.? When did you last revisit and update your marketing strategies to make sure they are in line with current trends and client expectations?

Similarly, the reaction to the crisis in the story, where immediate action was required but not necessarily well-informed, parallels how many financial advisers sometimes rush into marketing tactics without a strategic plan.? A recent poll I ran suggested that a great many financial advisers still do not have a marketing plan.

The analogy underscores the need for a strategic, adaptable marketing plan that can respond to new information and shifting scenarios, akin to having the right knowledge or tools for unexpected situations.

Lastly, as we made our way to the A&E, acknowledging the problem and seeking professional help, mirrors the idea that financial advisers should not hesitate to seek external expertise in marketing and lead generation. Recognizing when professional assistance is needed, can greatly enhance the effectiveness of lead generation efforts, saving time, stress and in so doing create real confidence in the way forward.

Storytelling is a key skill in marketing your expertise and services, and every financial adviser has a story to tell.? Use these moments and stories to stand out, connect authentically with your audience, and turn challenges into opportunities for growth and engagement.

Join us in the Adviser Marketing Club and learn how that time honoured phrase ‘people buy people’ is one of the most powerful strategies for attracting more of your ideal clients.

Come and join the IFAs, financial planners and advisers who have already registered to transform their approach to lead generation in 2024.? Join us in the Adviser Marketing Club by 15th December.

Register here:? https://www.philipcalvert.com/adviser-marketing-club/

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