Don't screw up your initial outreach to an advisor!

Trying to start a conversation with a financial professional?  Whether it's a LinkedIn connection, a cold email, or some other form of outreach, how will you initiate that conversation?  Is there a magic script that works?  What will get them to meet with you?  

After getting this exact question for the third time this week, we figured we'd better do a quick write-up.  And the simple truth is that there isn't a magic script, but there are a few guiding principles that we've found to increase your odds of success.   

Don't Sell.  

Don't come across as trying to sell them something or trying to somehow earn access to their clients or their wallet.  Consider this flawed opening: 

"I would love to schedule a call with you to share how a reverse mortgage could benefit your clients." 

Do you think that will get a response?  Here's what I would hear:

"I want to use up some of your time (your most valuable asset) to try to convince you to like something you may not like or care about, so that you will tell your clients to trust me and buy something from me so I can make money, even though you don't know anything about me or if I can be trusted."  

Now do you think you would get a response? Unlikely.  Who is that statement about?  Who should it be about?  As you craft your opening, it needs to be about them, not you.  

Don't Tell. 

Don't tell them what they should think or do.  The moment you try to tell someone something, they will get defensive.  No one wants to be told what they should do or think.  That rebellion began in high school.  Instead, position around “what other advisors are finding or doing.”  If you try to tell me something, I can debate you.  If you simply relay what others are thinking or doing, I can't dispute that.  

Offer Something.  

They might be willing to accept a connection, but very unlikely to want to make time for a call or meeting. You might want to offer them something of value.  Something like, “5 things most advisors have told me they didn’t know about reverse mortgages.”  Or something completely unrelated to reverse mortgages, "7 best practices in collaborating with other professionals."  I'm making these up, but they are samples of an easy first step, something an advisor can say yes to without the risk of having to hang out with a self-oriented sales person for an hour.  If they are interested in what you offer, they might download it.  If they download, you have their email and are at least in the game. Always consider how you can add value to them.  

Assume Nothing. 

There's a wide range of what advisors might believe about reverse mortgages.  From strong resistance to curiosity, understanding to actively seeking ways to partner, each phase requires a different conversation.  We always enter conversation with a blank page and an open mind.  Early on, we will try to gauge their current understanding and belief about reverse mortgages.  Until you've uncovered that they are at least open or curious, there's little chance they'll agree to a meeting.  

Offer, Don't Ask. 

You don't get a second chance for a first impression.  As you craft the words for your initial outreach, take the time to think through your words.  Am I asking for something to benefit me, or offering something to benefit them?  

Be intentional in your initial outreach.  Be mindful of their perspective.  And ultimately, the goal is to be perceived as trustworthy.  Do things and say things that evoke trust.