Whether you are a fan of Paula Deen, Bobby Flay, Emeril Lagasse or another top chef, consider this for a moment: Why have they chosen to openly share their hard-won trade secrets with millions of people? Rather than simply open a restaurant and make their famed dishes night after night for their fans to consume, they have opened up their cookbooks so that others can do what they do. Think about that.
I don’t claim to be Emeril, but I take very seriously the responsibility to educate clients about the choices available to them in the world of financial services and products. In fact, my biggest fear is that one of my clients might be asked why he owns a particular financial product and responds, “Because my guy sold it to me.” Unacceptable.
As I have often said, particular financial products are neither good nor bad. They just sit there on a shelf until someone puts them to use. Rather it is how they are put to use that determines their effectiveness, their “goodness” or “badness.” (Translation: If you own a “bad” product, it usually means it was sold to you for the wrong purpose.)
Top chefs understand the role of education in their success. They understand that their willingness to educate their “clients” turns those clients from mere customers into raving fans. That’s a big difference.
The same works for recipients of solid financial education and advice. If your client doesn’t really want to know how things work, that’s his or her decision. Just remember that the best relationships and outcomes come about when the teacher and student share the same goal. That’s when the magic happens.
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Adam Cufr is a founding principal of Fourth Dimension Financial Group, LLC. He is the creator of the web-based coaching program The Life Insurance Blueprint, a prolific blogger, and an expert author on Ezine Articles. For more information, go to http://adamcufr.com/blog.