Getting Into the Mind of Today’s Affluent

Matt Oechsli

“Not coming from an affluent background, my mother was a teacher and my father worked construction. I’ve never been part of the country club scene,” explained Harry, then asked “How do the affluent think?  Shouldn’t you have money to advise people with money?”

Harry was hitting on an issue that has troubled advisors for years; the proverbial white elephant in the room.   Many advisors are uncomfortable in affluent spheres of influence, especially when it comes to marketing their services.  Why?  Because, like Harry, most advisors come from middle class backgrounds.  Thus many advisors suffer from some form of social self-consciousness, which left unchecked will interfere with their potential growth as an advisor.

As I explained to Harry, once you have a basic understanding of today’s affluent, it’s much easier to advise them on their family’s finances.  When done well, it becomes much easier to acquire more affluent clients.  The following are three affluent truths that will help you get into the mind of today’s affluent.

It appeared that Harry had a lot going for him.  He was a true professional; he was knowledgeable and looked the part.  His challenge was giving himself permission to ply his services in affluent circles.

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