How Eight Simple Questions Can Reveal Potential Clients

By Bryce Sanders

January 2022

We meet people at the time. We see them at parties. We sit next to them on commuter trains. They are beside you in the middle seat on the plane. You make polite conversation. What can you learn?

See below for some simple questions to draw new acquaintances out.Without prying too much, you can learn if your new acquaintance has the potential to becomea new prospect.

1. What do you do?

It’s a standard introductory question. It’s expected. They usually ask the same one in return.

Learn:As an advisor, you have many different types of clients. You have a good idea what different professions pay. This gives clues to their income.

2. Where do you live?

I’ve always preferred “Where’s home?” If they are local, you know the area well.

Learn:You aren’t a real estate expert, but you know the average house prices in different sections of town.

3. What do you drive?

Often you don’t need to ask. You can see the car if they are arriving or departing. If their keys are on the table, you see the car logo.

Learn:You know what different cars cost. You know classic cars can be maintenance nightmares. They might own an exotic car. This requires deep pockets. You also know you can lease almost anything.

4. Where do you play golf?

Not everyone does, but about25 million Americans do. Different private clubs have different levels of status. Some are very expensive.br>
Learn:Knowing where they belong gives you clues to what it costs them to maintain their membership.

5. To what organizations do you belong?

You may have met them through community involvement. You have this group in common. Is this their only charitable interest?

Learn:What’s their degree of community involvement? Do you and they belong to any other organizations? This presents the opportunity to run into them again.

6. What events do you attend?

You’ve met them at a charity golf outing. They seem interesting. Where might you see them again?

Learn:The nonprofit world has a spring and fall gala/event season. If you meet five interesting people and they are all going to the Concert in the Park in two weeks, you are going, too!

7. Where do you go on vacation?

People love to talk about travel. You’ve done plenty yourself, so you can hold up your end of the conversation.

Learn:Here’s a good rule: The more remote, the more expensive. If getting there requires a small plane or chartering a boat, they likely have lots of discretionary income.

8. What do you do for fun?

Now you are talking about hobbies. You know that classic cars, RVing, or owning a boat, horse or private plane costs money. People often have more than one interest. There may be crossover opportunities.

Learn:Knowing their hobbies gives clues to what their interest is costing them.

Bryce Sanders is president of Perceptive Business Solutions Inc. He provides HNW client acquisition training for the financial services industry. His book, “Captivating the Wealthy Investor,” is available on Amazon.

The original version of this story was published onThinkAdvisor.