The Force of Familiar
When given the choice, most of us pick what’s familiar.
We all like to stick with what’s easy, stay on the beaten path, go with what’s known – but it’s more than that
Familiarity, though seemingly passive, can be a force in itself.
It can even overpower perfectly logical or personal reasons for change and hold an advisor in a relationship that is clearly one-sided.
When you think about it, you may be hesitant to switch even the most mundane services – who cuts your hair, where you shop for food, what you drive – let alone consider replacing the dealer that you have chosen as a partner for your practice, one you may have been with for 10 or 15 years.
Familiar or not, when a relationship holds as much sway with your existing and potential business as your dealer, it’s at least worth asking how it compares.
Every few years, ask yourself these 5 key questions:
- To what extent has your dealer contributed to your practice’s success?
- How do clients and prospective clients view your practice and its relationship to your dealer?
- What does your succession plan look like and how does it measure up to your retirement plans?
- Is the practice you manage or the assets you hold yours or your dealer’s?
- How has your dealer’s grid changed over the last few years and do you see it changing in the future?
