“How often do we speak?” he asked.
“That depends,” I said.
“The firm I’m with now sets up an annual meeting,” he told me.
“That doesn’t sound like enough,” I responded.
“They’re responsive. If I have a problem or question, they get right back to me,” he said.
How Much is Enough?
That was just one conversation I had yesterday with a prospective client. He’s a frequent reader. He feels like he knows us. But it doesn’t seem like he knows his current team so well—the one handling his life’s savings. Until yesterday, he and I had never spoken before, but even so, he felt like he knew me. That’s important. More on that in a minute.
I’ve written to you that it takes me about 17 seconds to get an idea of whether or not we’ll work well together. Statements that include wording like: “I need the market to do” something, whatever it is, are never a good start. I’m Your Survival Guy, not Mr. Help the Needy. My customers already have what they need. My job is to help them keep it. Need is for those who have lived a life of spending at a rate I’m not comfortable with. Need is a bad habit.
A Word About Big Institutions
Back to my new friend above. There’s no excuse for his “team” not knowing him. But more important is him not knowing them. Because this is a two-way street. The not knowing—that’s throwing darts around the bar, and that’s how people get hurt. Too many layers between your money and the decision makers is bad for your wellbeing too. That structure can create a revolving door of team members, which is not cool.
Too many layers. Too many products to sell. An army of reps looking to climb the corporate ladder for bigger accounts. At what cost? Let’s not forget, how are they going to pay for the naming rights on that new stadium? Isn’t your unique brand worth knowing? Of course, it is.
Action Line: If the phone doesn’t ring, it’s me.
P.S. Tomorrow, learn why “One Prepares for Old Age While One is Young.”
E.J. Smith - Your Survival Guy
Latest posts by E.J. Smith - Your Survival Guy (see all)
- Locking In a Generational Opportunity in Fixed Income - November 30, 2023
- RIP Charlie Munger: Keeping It Simple Never Goes out of Style - November 30, 2023
- Explosion in Gun Ownership Creates Difficulties for Progressives - November 30, 2023
- It’s California vs. Florida in the Big State Debate - November 29, 2023
- Shiffrin Brings It Home with World Cup Win at Killington - November 29, 2023