[hr]<\/p>\n
Submitted by: <\/b>Matt Hale
\nAge: <\/b>27
\nBusiness name: <\/b>Rising Tide
\nLicensee: <\/b>Apogee
\nClients: <\/b>Jen and Glenn
\nAge: <\/b>Both <\/b>32<\/p>\n
[hr]<\/p>\n
After the birth of their first child, Jen and her husband Glenn knew they needed to take out insurance. The decision about who to approach for advice was an easy one, as Jen\u2019s sister was already one of Matt\u2019s clients.<\/p>\n
As is common with members of Generations X and Y, Jen did her research before meeting with Matt. In Jen\u2019s case, her research involved speaking with her sister, but for many potential Gen X and Y clients, the pre-meeting investigation will take place via the internet. Matt says the most important thing an adviser can do when meeting a prospective client is to be themselves: \u201cPeople of our age are often quite forthright. They know who they work well with, and if you\u2019re not true to yourself, they\u2019re going to find out.\u201d<\/p>\n
Despite having received a stellar recommendation from her sister, Jen and Glenn were still sceptical about their first advice appointment. Jen had already entered the property market, and along with her mortgage the bank also encouraged her to take out insurance to protect the loan.<\/p>\n
\u201cThey basically said, \u2018Sign here and you\u2019re covered\u2019,\u201d recalls Jen. \u201cBut I walked away thinking: \u2018What on earth am I covered for? What happens if something goes wrong?\u2019<\/p>\n
\u201cPart of wanting to see an adviser was a desire to become more knowledgeable about financial issues. I think that comes with being a first-time parent. I need all the information I can get, because any decision I make now also affects our son. I\u2019m not going to sign-up for anything that I\u2019m unsure of.\u201d<\/p>\n
Another consideration for Gen X and Y couples engaging a professional adviser is the challenge of finding time to book in the appointment. In Jen and Glenn\u2019s case, their first meeting with Matt \u00a0occurred with baby Lewis in tow.<\/p>\n
\u201cYou have to be flexible,\u201d Matt says, of dealing with Gen X\/Y clients. \u201cSometimes we\u2019re conducting meetings in the morning before work, or when the children are having their afternoon kip, or after they\u2019ve gone to bed at night. We are more than happy for clients to bring their kids into the office, but if it suits them better we\u2019ll go to their house or catch-up via Skype.\u201d<\/p>\n
I don\u2019t want to be going to a doctor that I don\u2019t like for 50 years<\/p><\/blockquote>\n
Jen recalls the feelings she shared with Glenn at the end of the first meeting with Matt: \u201cBefore we\u2019d even reached the lift, Glenn said, \u2018Geez, I feel so much more comfortable with this.\u2019 He had never been through a process like this before, and I could tell he was a little bit anxious about it. He was concerned about how much money it would cost and how much time it would take out of his working day.<\/p>\n
\u201cBut from the start, we felt extremely comfortable. We didn\u2019t feel awkward about not knowing enough. We weren\u2019t pressured to answer Matt\u2019s questions right away, and we left with a whole lot more than we thought we were going to.\u201d<\/p>\n
In Matt\u2019s case, the first appointment is what he calls the \u2018right fit\u2019 meeting. \u201cI\u2019ve got client relationships that could be going in 50 years\u2019 time. I don\u2019t want to be going to a doctor that I don\u2019t like for 50 years, so why would you go to an adviser that you feel that way about? That first meeting is about working out whether I can add value, whether I want to work with the client, and whether they look like they\u2019re comfortable with me.\u201d<\/p>\n
From then on, the focus for most Gen X\/Y clients is to get their financial protection in place. \u201cWhen a new baby is born, it\u2019s 18 months to 2 years of just \u2018battening down the hatches\u2019,\u201d says Matt. \u201cIt is the time when there\u2019s going to be the least amount of family income coming in, because of maternity leave, days off work, and a whole raft of issues that come up with a young child in the house. We don\u2019t want people to be feeling that there\u2019s pressure on them to do anything other than look after the family.\u201d<\/p>\n
Jen\u2019s advice to other financial advisers who are dealing with clients her age is simple: believe in what you do. \u201cIf Matt didn\u2019t believe in what he was doing, that would show through so quickly to new clients, especially those with new families, who are questioning everything that is going on in their lives. It was Matt\u2019s integrity that got the deal across the line, and what made us feel so comfortable when we walked away.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
This case study provides tips on how to engage with Gen X and Y clients.\u00a02013 AFA Rising Star, Matt Hale, and his clients\u00a0Jen and Glenn talk about the things that matter most to younger advice consumers. [hr] At a glance Submitted by: Matt Hale Age: 27 Business name: Rising Tide Licensee: Apogee Clients: Jen and […]<\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4477,4261,4474,4553,4608],"tags":[4556,4558,4557,4484,5764,4555],"class_list":["post-24222","post","type-post","status-publish","format-standard","category-marketing","category-marketing-sales","category-practice-management","category-niche","category-value-proposition","tag-apogee","tag-client-relationships","tag-gen-x-and-y","tag-generating-leads","tag-marketing","tag-rising-tide"],"_links":{"self":[{"href":"https:\/\/riskinfo.com.au\/case-studies\/wp-json\/wp\/v2\/posts\/24222","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/riskinfo.com.au\/case-studies\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/riskinfo.com.au\/case-studies\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/case-studies\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/case-studies\/wp-json\/wp\/v2\/comments?post=24222"}],"version-history":[{"count":0,"href":"https:\/\/riskinfo.com.au\/case-studies\/wp-json\/wp\/v2\/posts\/24222\/revisions"}],"wp:attachment":[{"href":"https:\/\/riskinfo.com.au\/case-studies\/wp-json\/wp\/v2\/media?parent=24222"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/riskinfo.com.au\/case-studies\/wp-json\/wp\/v2\/categories?post=24222"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/riskinfo.com.au\/case-studies\/wp-json\/wp\/v2\/tags?post=24222"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}