Let’s connect
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
Last month, Connective Communication’s Jennifer Morgan released Hearts, Minds & Wallets: The Thin Book That Closes Gigantic Deals. The book is a guide for effective communication and pitching, which has relevance in all fields but is particularly important for asset managers. “The frameworks in the book hone in on consultative solutions focused on being in service of others,” said Morgan.
Here are some key learnings from the book:
Asset managers often compete with similar products. As investors look at which ETF or mutual fund they might choose for exposure to a particular slice of the market, they see an array of products that don’t necessarily have a lot of daylight between them. According to Morgan, “People are the standout, especially in financial services where process and performance may be similar to competitors.”
Her book urges readers to consider what they are doing that nobody else is. Making your client service proactive can set you apart from other funds. One of the main ideas driving the book is that consistency + integrity = trust earned. In other words, if asset managers show up consistently and do what they say they are going to do, they will earn client trust. It is simple to connect with clients in a bull market, but harder in a bear market. Laying a proactive groundwork of trust over time will help make for a more resilient relationship when the markets sour.
Lots of things matter, but time is arguably the most important thing. Respecting the time of others will lead to stronger relationships. “Be bold. Be Brief. Be gone,” Morgan urges her reader. “It’s important, so we allow others to source and offer ideas, allowing for more targeted meetings.”
It can be very easy for experts to offer a firehose of information without pausing to see if the audience has fully absorbed it. The “be bold, be brief, be gone” tactic allows people to absorb what you’ve told them, then ask questions and follow up at will.
The book also stresses the importance of being early to meetings and making sure to wrap them up at the appointed time. Morgan suggests creating agendas in advance. This sets expectations and lets attendees know what might be expected of them. Morgan shared, “The gift of our and others' mutually shared time is increasingly important in the fast-paced world we live in.”
“Writing the book helped me focus on the increasing importance of the words we use and how they make others feel,” said Morgan.
The ability to simplify the complex and to communicate with the other person in mind is an act of compassion. Asset managers who can synthesize complicated ideas into digestible words will have more success with prospects, especially if they can communicate with an understanding of who the prospect they are talking to is.
Morgan also recommends the Driscoll model for making any individual communication as effective as possible — be it a keynote address at a conference or an email to a prospect. That model is, essentially:
“What” covers the reason for the communication. What is the goal?
“So what” covers why the specific communication matters. What is in it for the audience/recipient?
“Now what” is the call to action. Her book urges marrying this framework to an agenda for the best results.
Communication falls under the umbrella of what modern society thinks of as a “soft skill.” But, in reality, it is something that anyone can learn and get better at. Morgan’s book is an excellent starting place for any asset manager looking to be more effective and stand out amid the sea of sameness.
Last month, Connective Communication’s Jennifer Morgan released Hearts, Minds & Wallets: The Thin Book That Closes Gigantic Deals. The book is a guide for effective communication and pitching, which has relevance in all fields but is particularly important for asset managers. “The frameworks in the book hone in on consultative solutions focused on being in service of others,” said Morgan.
Here are some key learnings from the book:
Asset managers often compete with similar products. As investors look at which ETF or mutual fund they might choose for exposure to a particular slice of the market, they see an array of products that don’t necessarily have a lot of daylight between them. According to Morgan, “People are the standout, especially in financial services where process and performance may be similar to competitors.”
Her book urges readers to consider what they are doing that nobody else is. Making your client service proactive can set you apart from other funds. One of the main ideas driving the book is that consistency + integrity = trust earned. In other words, if asset managers show up consistently and do what they say they are going to do, they will earn client trust. It is simple to connect with clients in a bull market, but harder in a bear market. Laying a proactive groundwork of trust over time will help make for a more resilient relationship when the markets sour.
Lots of things matter, but time is arguably the most important thing. Respecting the time of others will lead to stronger relationships. “Be bold. Be Brief. Be gone,” Morgan urges her reader. “It’s important, so we allow others to source and offer ideas, allowing for more targeted meetings.”
It can be very easy for experts to offer a firehose of information without pausing to see if the audience has fully absorbed it. The “be bold, be brief, be gone” tactic allows people to absorb what you’ve told them, then ask questions and follow up at will.
The book also stresses the importance of being early to meetings and making sure to wrap them up at the appointed time. Morgan suggests creating agendas in advance. This sets expectations and lets attendees know what might be expected of them. Morgan shared, “The gift of our and others' mutually shared time is increasingly important in the fast-paced world we live in.”
“Writing the book helped me focus on the increasing importance of the words we use and how they make others feel,” said Morgan.
The ability to simplify the complex and to communicate with the other person in mind is an act of compassion. Asset managers who can synthesize complicated ideas into digestible words will have more success with prospects, especially if they can communicate with an understanding of who the prospect they are talking to is.
Morgan also recommends the Driscoll model for making any individual communication as effective as possible — be it a keynote address at a conference or an email to a prospect. That model is, essentially:
“What” covers the reason for the communication. What is the goal?
“So what” covers why the specific communication matters. What is in it for the audience/recipient?
“Now what” is the call to action. Her book urges marrying this framework to an agenda for the best results.
Communication falls under the umbrella of what modern society thinks of as a “soft skill.” But, in reality, it is something that anyone can learn and get better at. Morgan’s book is an excellent starting place for any asset manager looking to be more effective and stand out amid the sea of sameness.
