Last night I was called by a family friend (for the sake of the innocent, Amy) who was being pushed by an advisor to make a major decision in regard to transferring her retirement savings account. Why was Amy asking me the question?
Basically, she was feeling uncomfortable and very hesitant. And yet, Amy is normally a very confident decision-maker and is not completely inexperienced with financial matters.
The reason is that Amy’s financial advisor had made the recommendation and given her a huge envelope of documents to work through and absorb. Amy did not even know where to start. The whole thought of this was energy draining. Then the questions of what is the bottom line, what are the risks etc all come up. In essence, her level of trust is diminished.
The issue is not the fact that a proposal has been made. It is all about how the information has been provided. What you need to realize is that this was then negatively affecting Amy’s energy. What will happen? She could just make the decision and regret it later, or simply dismiss the proposal.
So, I gave Amy the very simple, but liberating solution, of asking her advisor to re-frame the proposal and provide in a summary format the benefits and costs of both the new solution and retaining the existing solution. The details can be checked afterwards as needed – which a detailed person will do.
What I am saying is that if you are the client, ask your advisor to communicate on your terms and then it will be easier to make a decision with comfort. If you are the advisor, build trust with your clients by asking them how they want the information provided. You may find that you will have a much happier and ultimately profitable client.
When people hesitate it is very often simply the way they have been communicated with. The information flows drive your energy to make good or bad decisions.