Say that a client calls up to tell you that they want to buy a penny stock which their cousin really likes. They want you to check it out and tell them what you think. Assuming that there is no chance that you would recommend it, there are many ways to respond to your clients, and when they ask for this type of advice some words work better than others. As always, think before you speak, and consider your audience.
Five phrases to avoid are:
- Let me be totally honest with you.
- I hate to tell you this.
- That is a no-brainer.
- We’ll see.
- Don’t hold your breath.
Focus on acknowledging and validating your clients. So for our example you could say, “I can see your cousin has done his homework. Let me walk you through what I’m thinking in terms of a stock that may have a higher growth potential and suit your portfolio a bit better.”
It will be a learning curve for some to stop using these catch phrases entirely. It will also produce new ways for you to express your ideas.
Start by doing a check on how the new phrases work in the flow of conversation with your client. See which phrases they respond to and begin to incorporate those into your client conversations.