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The Growth Mindset by Rick Capozzi

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Chapter 16Discovery Meeting

“Nature gave us one tongue and two ears so we could hear twice as much as we speak.”

Epictetus

If we stop and think about it for a second, the discovery meeting is by far the most important client meeting. It lays the foundation for the relationship, creates expectations, and is the first step in forming a deep understanding of a client's objectives. What I have come to realize is that too often this process is rushed, creating a multitude of missed opportunities to truly understand the dreams of this prospect. We all want to gain trust immediately. And this first meeting is all about gaining trust. Without trust, you will not move forward. The quickest way to gain trust is to compress time. And you do that by being fully transparent, and asking compelling questions. You put everything on the table. You avoid coming across as a robot; you're human, you've made mistakes, and you acknowledge that you don't know it all. In short, if you want your clients to open up, you must open up first. Avoid judgment. Create a safe environment for people to open up without judgment or sarcasm. Additionally, think of the discovery phase as a never‐ending process. The team can always learn something new about the client. The relationship between an investor and his or her money is complex, private, and, in many countries around the world, completely secret. The best advisors break down barriers in their clients' minds and persuade them to express their dreams and ...

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