Politics are famously known as a no-go for dinner conversation, but in a financial advisor’s office, conversations can turn political quickly. Policy changes, inflation, and interest rates can all have a direct impact on people’s finances and their retirement. It can be awkward if you’re not prepared to have these conversations; worse, you can be doing your clients a disservice by not having these conversations.
But there’s a huge difference between being political and talking about politics. Your clients need thoughtful and measured answers to very difficult questions — not political hot takes.
So, what do you do?
The key is to remain impartial. Let’s talk about a few ways to stay apolitical while still providing the right information your clients and prospects need to sleep better at night. Here are four ways to stay apolitical in a political world.
Use Neutral Language
Stick to using neutral language. No matter how well you think you know a client, you never really know their stance. That’s why it’s best to avoid language that can be interpreted as politically charged. Instead of government policies, refer to regulatory changes. Replace tax cuts with tax adjustments. And don’t use political climate. Try economic conditions instead.
Stay Informed, But Impartial
Next up, stay informed but impartial. Elections often trigger emotional responses among investors. Make sure you don’t pour gasoline on their emotions. Share data and statistics without adding personal opinions. Just because you or your client doesn’t like a proposed policy doesn’t mean it won’t pass.
Preparing your client for an unfortunate reality can help them tremendously down the road. The good news here is that we’ve been through these changes before, and there’s plenty of historical examples and patterns to share.
Redirect the Conversation
Our third point is related to the above: you’ve got to become a pro at redirecting political conversations. Maintain a professional tone and remind clients of the primary goal — securing their financial future. Elections and changes come and go, but you’re helping them with their long-term plans and goals. Personal feelings and the intensity of them can land anywhere on the political spectrum, but your job is to make sure clients know that the facts and numbers will remain the same, regardless of what is liked or disliked about the current state of legislation or political discourse.
Stay Confident
Finally, stay confident. You know your clients best. You know what keeps them up at night and what their retirement dreams include. If they’re having an emotional response to potential political changes, use this time to remind them about the plan you built together and reinforce your confidence in it to help them reach their long-term goals. We find comfort from others who are confident in a plan for the future.
If you’re looking for some other ways to navigate difficult conversations with clients and prospects, check out our series Selling with Stories — and of course, like and subscribe.
