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Using communication techniques to build trust and confidence with indecisive clients
Using communication techniques to build trust and confidence with indecisive clients

May 09 2024

Using communication techniques to build trust and confidence with indecisive clients

Abhishek Raghunath Godbole emphasizes the importance of effective communication techniques in earning the trust of indecisive clients, fostering reliability, and providing comprehensive financial education to facilitate confident decision-making and strengthen advisor-client relationships. 


Trust and confidence are crucial for successful partnerships to thrive. Yet dealing with indecisive clients has its own set of challenges. Through anecdotes and insights, Abhishek Raghunath Godbole, an MDRT member from Mumbai, India, for the past nine years, explores how communication techniques can help professionals earn the trust of indecisive clients.   

He says, “Communication is a crucial skill in client decision-making. I consistently use simple language to minimize confusion. I engage in direct, point-to-point discussions, actively listening to understand their perspective before proposing solutions. Throughout the explanation process, I frequently ask, ‘Any doubts or questions, sir/ma'am?’ after each point, facilitating immediate query resolution. If there are no queries, I proceed with, ‘Okay, great, let’s move forward’.”  

Godbole believes reliability is important to enhance communication and build trust with clients. He explains, “Ensure they know they can count on you by consistently delivering work on time and with precision. Be transparent, which starts with clear communication, as it fosters trust. Be proactive and reach out periodically to show your clients they are valued. Staying in touch with clients will help solidify trust and receptiveness to advice. Moreover, when explaining goals to clients, break down steps clearly to prevent any confusion and help their decision-making.” 

 He recounts an incident where his communication strategy helped a hesitant client boost his confidence during decision-making. He shares, “With a prospective client, I maintained regular follow-ups to encourage him to start investing. However, he repeatedly postponed, citing various reasons, for nearly three years. One day, I engaged in a casual conversation with him, asking about his well-being. I pointed out that he missed an opportunity for significant returns due to his delays in making the decision. After realizing the potential gains, he decided to start regular systematic investments. By communicating effectively and highlighting the missed opportunity, I instilled confidence in him, reassuring him of future opportunities. This approach facilitated his decision to invest with me.” 

In Godbole’s experience, there are numerous reasons for client indecisiveness, but the primary cause often stems from a lack of trust in their advisor. This lack of trust leads them to doubt the efficacy of plans or fear making incorrect decisions. “Effective communication is crucial in such situations,” he asserts.  

“Active listening to their requirements is important. Subsequently, we must inquire about their goals. Some individuals, especially young ones, may not have a clear idea about their life goals. Thus, we must use a visual timeline to guide them in understanding their aim over various time frames, from five years to retirement age. We should also provide comprehensive financial education and break down complex financial concepts into manageable parts like emergency funds, education funds, marriage funds, and so on. It facilitates a deeper understanding. We must clarify which goals require immediate planning and which ones can be postponed. Additionally, we must also assess their current investments, gather all relevant data, and provide genuine advice and comprehensive services. This approach will help in building trust and confidence in our relationship with them.” 


Contact: MDRTeditorial@teamlewis.com