Dealing with CRAP — credibly that reduces acquired problemsBlog added by Clif Albino CHFC LUTCF on July 15, 2014
Clif Albino

Clif Albino CHFC LUTCF

New Berlin, WI

Joined: May 13, 2014

My Company

CRAP is credibility reducing acquired problems. This is an approach that minimizes damage between advisor and client. Critical to success is to start with a healthy, respectful relationship. Don’t think you are going to dazzle some nut with a brilliant plan if they are difficult and not responsive from the get-go. Not everyone is a client — and not everyone is an advisor, even though they try to be if given the opportunity. Life’s most worthless currency is advice without facts. It is free, and your clients will get plenty of it.

Let’s assume you have just presented a plan completed with regard to every detail, one that engages the attentive client because it resonates so beneficially to their personal life — simply beautiful. A new dynamic starts once the client leaves.

Solution-seekers have worries and limited resources. They look to their advisors for the absolute correct answer. They are going to bounce this plan off some people they are comfortable with. This is a responsibility the advisor needs to take seriously. Some advisors are pretty sharp in their respective specialties, but not so expert outside of it. To be fair, they are being asked by a friend for their opinion and will give it even though they have not done the research.

An example of reliability is your client receiving the same hearsay and cliche many times. This should not be confused with validity, which is the correct conclusion from logic and fact. This is where trust slips and doubt gets traction. It is imperative that trust is re-established if it ever waned. If your client has asked for enough opinions, they will be drowning in information and looking to you as the lifesaver in the sea of knowledge. This is where you find out how good your relationship is. Do they ask for guidance in all the warnings they heard? If so, there is a healthy, honest, and effective relationship. You already know the plan is solid; just make sure the client sees it that way. Otherwise, find out why they don’t.

Remember: “People don’t care how much you know, until they know how much you care.” — John C. Maxwell

A combination of a great plan and a healthy relationship translates to the credibility that reduces acquired problems.
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