In last week’s blog, we talked all about the two types of stories that can be used as actual assets in your business: your Personal Brand WHY story and your Desire story.
We covered how your Personal Brand WHY Story is the #1 most important story for you to have as a tool in your toolkit.
Not only is it like adding lighter fluid to all your marketing and recruiting strategies, but it can be used in the context of two big financial service consumer trends coming down the pipeline.
1. Boomer Couples Switching Advisors
If you work with baby-boomer couples, then you need to know this stat:
If a husband passes away, 85% of the wives will switch financial advisors because they “don’t relate” to their husband’s advisor.
That’s why it’s so important to not just be “the financial advisor,” but rather a trusted, credible source for your clients; one they know they can lean on, rely on, and refer to no matter what happens.
And the best way to do this is—you guessed it—sharing your Personal Brand WHY Story and establishing that trust early on in your relationship with your clients.
2. The Great Wealth Transfer
According to projections, 68.4 trillion dollars will be transferred over the next 25 years, causing a transfer of wealth unparalleled in human history.
And which generations will receive this money?
Gen X and millennials.
And what’s most important to Gen X and millennials when they work with a business?
In fact, 85% of millennials are more likely to trust an advisor with an established personal brand.
For these reasons, your Personal Brand WHY Story should be the cornerstone of all your marketing…especially if you’re in a “high-trust” industry like financial services.
The higher the requirement for trust, the more important it is for you to share your personal brand and increase that trust.