How to Nail the First Impression: 7 Mistakes Advisors Often Make (and What to Do Instead)

March 19, 2025

You’ve got one shot to make a lasting impression—and when you’re prospecting as a Financial Advisor, that moment happens fast.

Those first interactions might be the most important moments in your entire process.

When done right, it can:

Set the foundation for a lasting relationship

Seamlessly convert interest into engagement

Create an experience they remember (and talk about)

But far too often, Advisors undermine their own success by approaching these meetings without intention or strategy. Let’s unpack seven common mistakes made when prospecting as a Financial Advisor, and how you can avoid them to leave a powerful, lasting first impression.

Prospecting as a Financial Advisor: 7 Mistakes Sabotaging Your First Impression

1. Winging It

This isn’t a casual lunch with your best friend. You can’t just sit down and see where the conversation takes you.

You don’t need a script, but you do need a framework. A well-structured approach with carefully selected questions can help you guide the conversation where it needs to go—uncovering both financial and emotional insights that inform your recommendations.

2. Dominating the Conversation

We all tend to talk too much in general, but this is a first impression that’s meant to uncover—not pitch. You can’t learn anything if you’re the one doing all the talking.

Moira Somers, author of Advice That Sticks, found client satisfaction directly correlates with how much airtime they get. The more they share, the more valued they feel. This meeting isn’t about showcasing your knowledge, process, or services—it’s about deeply understanding their life.

3. The “Show & Go”

You can’t just show up and expect to make a great first impression. Prospecting as a Financial Advisor requires planning and preparation.

Athletes don’t just walk onto the field and perform at an elite level. Their success is built on practice, strategy, and mindset. The same applies to your meetings:

Get in the right mindset—remind yourself of the meeting’s true purpose.

Review notes from the last 2-3 conversations to pick up where you left off.

Remove all potential distractions (phone, paperwork, email) to be fully present.

4. Lack of a Defined Follow-Up Process

You just had the most important meeting you’ll ever have with a prospective client. Letting them leave without a clear understanding of the next steps is a recipe for getting “ghosted.”

At a minimum, there’s one follow-up task you must do:

Send a recap email within 24-48 hours. Summarize what was discussed, highlight key takeaways, and reinforce their priorities. This makes them feel heard and understood—and keeps the momentum going.

5. Ignoring Emotional Data

In the later stages of prospecting, you often uncover personal, intimate details about someone’s life—what can be referred to as emotional data.

And nothing erodes trust faster than forgetting what matters most to them.

Just like financial data, emotional data needs to be tracked. Whether it’s a spreadsheet, a dedicated CRM field, or detailed notes, find a system to capture their values, money stories, and even the exact words they use to describe their feelings about money.

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Navigating High Emotions Surrounding Market Volatility With Your Clients and Prospects?

Market swings bring uncertainty, fear, and doubt to the surface, often in ways clients aren’t even aware of. If you brush past that, or focus too heavily on charts and projections, you miss the opportunity to connect on what they’re really feeling.

Want a framework to help you navigate these conversations more confidently

Download RFG’s Volatility Conversation Guide, packed with behavioral insights and powerful prompts to help you lead with empathy when clients need it most.

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6. Fear of Negative Responses

Many Advisors hold themselves back with an irrational fear of how clients and prospects will respond. Such as:

What if they don’t want to answer personal questions?

What if they get uncomfortable when I ask why money is important to them?

What if they push back—or even feel offended—by tough questions?

But the best conversations are on the other side of that fear. Lean into it, and you’ll open the door to deeper, more meaningful discussions—and stronger client relationships.

7. Settling for “Good Enough”

You might think your current prospecting strategy is good enough. You gather some goals, print out an infographic, and it’s easy to stop there.

But as Jim Collins, the author of Good to Great, said, “Good is the enemy of great.”

Your prospects deserve great meetings. They deserve a process that uncovers what truly matters to them—not just financially but emotionally and psychologically. That’s what client-centered financial advice is all about.

Embrace Behavioral Financial Advice, Elevate Your First Impression

Prospecting as a Financial Advisor isn’t just about asking the right questions—it’s about building trust, decoding emotions, and helping people articulate what truly matters.

Get it right, and you’ll create deeper relationships, unlock more meaningful conversations, and position yourself as the Advisor clients truly need. By avoiding these seven mistakes, you’re not just improving meetings—you’re building a business rooted in understanding, trust, and impact.

Transform Your Advice with RFG Advisory

Your ability to guide prospects isn’t just about the numbers—it’s about understanding their emotions, behaviors, and mindset around money. That’s what separates good Advisors from truly great ones.

At RFG Advisory, we equip Advisors with the tools, coaching, and strategies to master the human side of money—helping you build deeper relationships, drive better outcomes, and create a practice that thrives.

If you’re ready to take your prospecting conversations to the next level and crush your first impression, explore how partnering with RFG Advisory can help you build your business without compromise. Schedule a call today.