The average advisory firm closes just
33%
of prospects
Source: Top Firms Are Focusing on Prospect-to-Client Close Ratios, wealthmanagement.com, 11/3/23
A financial professional meets Alex, a strong prospect who talks enthusiastically about travel, freedom, and a different kind of retirement. Alex describes what life might look like when work becomes optional—where to live, how to spend time, and what this next chapter could finally allow.
The financial professional responds with a thoughtful, professional approach, clarifying assumptions, outlining trade offs, grounding the conversation in numbers and projections.
But something doesn’t quite click. And Alex doesn’t move forward.
Have you ever had a meeting with a prospect that seemed to go well, but the connection just felt off and you didn’t know why? Fortunately, there are ways to improve your odds of making a great connection—starting with understanding whether you’re working with a How or a Wow prospect.
How to Tell Early Whether a Prospect Is “Wow” or “How”
Early in a first meeting (usually right after rapport-building) there’s a moment when the conversation turns to the future. What a prospect says about retirement can reveal almost everything you need to know about the way they think.
A Wow-oriented prospect often starts with a dream. Alex might talk about a home in Hawaii, traveling more, waking up without an alarm, or finally having time to enjoy family and hobbies.
A How-oriented prospect isn’t picturing the scene as much as mentally building the plan. Instead of imagining the house, they’re wondering how much it costs, what the tax implications are, who maintains it, and how it all actually gets done.
Neither approach is better or worse. They’re simply different starting points. Listening for these signals early helps you match your approach before momentum is lost.
| You’re Likely Working With a Wow Prospect if They: | You’re Likely Working With a How Prospect if They: |
|---|---|
| Speak in big ideas and future scenes | Want specifics before committing |
| Jump ahead or explore multiple possibilities at once | Focus on execution, risk, and process |
| Disengage when technical detail appears too early | Feel calmer when structure is introduced |
Listening for these signals early helps you match your approach before momentum is lost.
How to Connect With Each Type
Ways to Connect With a “Wow” Prospect
Wow prospects engage first through meaning and possibility, connecting emotionally to a vision before the details take shape.
They often come into meetings with a vivid picture of what they want life to feel like—but not necessarily how it all comes together financially. If the conversation shifts to feasibility too early, their energy can flatten.
To keep a Wow prospect engaged:
Dream with them about what they want and why it matters
Use visuals and simple diagrams before detailed spreadsheets
Keep early next steps simple and directional
One technique I often suggest is naming the investment account after its purpose. A “Beach House in Hawaii” account creates a very different reaction than a more generic or technical label. When the purpose stays emotionally present, engagement tends to follow.
Structure still matters—but for a Wow prospect, it tends to land better after the vision has been fully heard.
Ways to Connect With a “How” Prospect
When you’re working with a How prospect, engagement tends to grow when the conversation feels clear, grounded, and purposeful.
How prospects want to understand how things work so they can feel confident in the decisions they’re making. That often means:
Leading with structure: clear steps, timelines, and defined next actions
Using charts, numbers, and concrete examples to explain trade-offs
Making space for questions around execution, risk, and contingencies
For a How prospect, clarity builds confidence. With that foundation in place, it becomes much easier to explore bigger picture possibilities without the conversation being held back by uncertainty.
