Many businesses focus heavily on their sales process; fewer pay attention to their clients’ buying process.
So, which is more important?
Kevin Davis’s 2011 book Slow Down, Sell Faster! highlights a key insight: while many advisers focus on sales techniques, it’s actually the client’s buying process that should guide how you engage with potential clients.
This shift in perspective is crucial for financial advisers, accountants, mortgage brokers, and their teams aiming to improve client engagement.
One expert blog pointed out a common issue with webinars: the presenter wants to gain a new client, but the participant is often just looking for free information.
This mismatch in objectives also applies to client meetings in financial services, where prospects may not be ready to commit but want to reduce uncertainty.
More recently, advisers face a growing challenge—clients under 35 tend to avoid paying for advice. Instead, they seek guidance from friends, online searches, or free sources rather than consulting expert advisors.
This trend impacts both advice firms and clients, potentially leading to poor financial decisions based on unreliable information.
Understanding the Shift in the Client Buying Process
The buying process has changed significantly in recent years. According to Slow Down, Sell Faster!, most clients go through four stages:
Step 1: Need
Clients first recognise a problem or goal. They reach a point where doing nothing is no longer an option.
Step 2: Research
Clients gather information to understand possible solutions. This phase often creates challenges for advisers because clients might have conflicting or inaccurate information.
Step 3: Buy
Clients weigh the benefits against risks and decide on a solution. This is where ‘buyer acceptance’ overcomes ‘buyer reluctance’.
Step 4: Value
After buying, clients assess whether their decision was right. Positive experiences here turn clients into advocates for your service.
How the Client Engagement Process Has Evolved
In the past, research and buying often happened simultaneously. Most clients came through trusted referrals and made decisions based on direct interaction with an adviser.
Today, the Internet and social media have extended the research phase dramatically. Many clients come to meetings after extensive online research—sometimes still stuck in the research phase—looking to confirm or clarify what they found. This can lead to ineffective client meetings where advisers feel they are educating rather than advising.
Some clients never move past research, caught in what could be called the “Procrastination Zone,” delaying decisions indefinitely.
What Can Financial Advisers Do About It?
Here are four strategies that best financial advisor coaches recommend to improve client engagement and align with how clients buy:
1. Clearly Define Your Target Clients
Know exactly who your services are for. If you mostly attract clients with simple financial needs easily solved by DIY or automated advice, consider refining your focus or evolving your business model.
2. Be Vigilant About Pre-Vetting
Pre-vetting isn’t unfair—it’s essential. A short conversation before meetings helps ensure you and your prospect share aligned goals and saves time for both parties. It avoids scheduling client meetings that are unlikely to progress.
3. Provide Self-Service Information Channels
Use automation tools like information centers, webinars, or diagnostic tools to support clients during their research phase. For example, platforms like Innergi or WordPress plugins such as Wishlist offer trusted content without requiring face-to-face commitment. At Audere, tools like Fee Modeler and SHIP Analysis Business Diagnostic help add value early in the process.
4. Avoid Jumping Into Solution Mode Too Soon
If you meet with someone still researching, don’t overload them with more information. Instead, coach them through their thinking process by highlighting gaps in their knowledge and the risks of relying on generic advice found online. This approach builds trust and helps move clients closer to buying.
Aligning Advisor Coaching with Client Engagement
The goal is to create client meetings where prospects are ready to buy—making the process efficient and effective. While many firms focus on sales process efficiency, supporting clients through their unique buying journey can be equally productive.
By meeting clients where they are in their journey, financial advisers and advisor coaches can improve engagement outcomes and build stronger client relationships.
