Your friend might be embarrassed to talk about money because they think you believe they are far wealthier and more successful than they really are. (Photo: Shutterstock)
Insurance is not an easy product to buy. Neither are investments. At the supermarket, if you go to the dairy case and randomly choose a carton of milk, not much can go wrong. My friends invest. If they don't, they should. Why don't they ask me for help? What's holding them back?
It's the fear of talking about money, right?
Years ago, when phones had cords and TVs had three major channels, children were taught it's impolite to talk about money. It was considered rude and intrusive. Your personal finances were private. Some people still think talking or asking about money is like walking into a locker room full of naked people and starting a conversation. It's awkward.
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Bryce Sanders
Bryce Sanders, president of Perceptive Business Solutions Inc., has provided training for the financial services industry on high-net-worth client acquisition since 2001. He trains financial professionals on how to identify prospects within the wealthiest 2%-5% of their market, where to meet and socialize with them, how to talk with wealthy people and develop personal relationships, and how to transform wealthy friends into clients. Bryce spent 14 years with a major financial services firm as a successful financial advisor, two years as a district sales manager and four years as a home office manager. He developed personal relationships within the HNW community through his past involvement as a Trustee of the James A. Michener Art Museum, Board of Associates for the Bucks County Chapter of the Fox Chase Cancer Center, Board of Trustees for Stevens Institute of Technology and as a church lector. Bryce has been published in American City Business Journals, Barrons, InsuranceNewsNet, BenefitsPro, The Register, MDRT Round the Table, MDRT Blog, accountingweb.com, Advisorpedia and Horsesmouth.com. In Canada, his articles have appeared in Wealth Professional. He is the author of the book “Captivating the Wealthy Investor.”
