Reframing the Narrative: Why Your Client is the Hero of Their Financial Story
The world of financial planning, like many industries, often falls into the trap of making itself the protagonist of its own narrative. Financial advisors, focused on showcasing their expertise and solutions, inadvertently sideline the very individuals they aim to serve. Donald Miller, author of "Building a StoryBrand 2.0," argues that this is a fundamental misstep. Effective communication, he contends, isn’t about telling your story; it’s about inviting others into theirs. This principle holds especially true for financial planning, where the client’s journey, aspirations, and challenges should take center stage.
Miller, a seasoned author turned marketing expert, developed the StoryBrand framework based on his deep understanding of narrative structure. His approach emphasizes the importance of positioning the customer as the hero of their story, with the business serving as the guide. This shift in perspective allows advisors to connect with clients on a deeper level, understanding their needs and motivations more effectively. Instead of highlighting complex financial instruments or boasting about past performance, the focus shifts to empowering clients to achieve their financial goals.
The StoryBrand Framework: A Roadmap to Client-Centric Financial Planning
The StoryBrand 7 (SB7) framework, outlined in Miller’s original book, provides a practical roadmap for crafting a client-centric narrative. It mirrors the seven plot points found in compelling stories, from classic literature to blockbuster movies: A character has a problem, meets a guide, gets a plan, calls to action, avoids failure, and ultimately achieves success. Applied to financial planning, this framework positions the client as the character facing a financial challenge, the advisor as the guide offering expertise and support, and the financial plan as the roadmap to success.
The common pitfall for financial professionals is inserting themselves as the hero, showcasing their qualifications and accomplishments. While these are undoubtedly important, they become relevant only in the context of serving the client’s needs. By recognizing their role as guides, advisors can effectively address the client’s problems, offer tailored solutions, and empower them to take control of their financial future. This approach fosters trust and collaboration, creating a more meaningful and impactful advisor-client relationship.
The Guide, Not the Hero: Redefining the Advisor’s Role
The "guide" metaphor encapsulates the ideal posture of a successful financial advisor. It transcends the traditional roles of teacher, technician, consultant, or salesperson, integrating elements of each into a holistic approach. A guide possesses experience and wisdom, but avoids condescension. They navigate technical complexities, but steer clear of jargon-laden explanations. They offer advice and recommendations, but remain committed to collaborative planning and ongoing support. Their persuasive abilities are employed not to close deals, but to motivate clients toward positive action.
The financial plan itself should be presented as a series of achievable steps, recognizing the principles of behavioral finance. While comprehensive in scope, the plan must be modular and digestible, avoiding overwhelm and promoting action. The advisor’s role extends beyond creating the plan; it includes facilitating implementation, providing accountability, and adapting the plan to evolving circumstances. This ongoing support is crucial, as even the most well-crafted plans can be derailed by unforeseen events or implementation challenges.
StoryBrand 2.0: The Power of the Controlling Idea
In "Building a StoryBrand 2.0," Miller introduces the concept of the "controlling idea," a concise and compelling summary of the core narrative. This idea acts as a filter for all messaging, ensuring consistency and clarity. Similar to a movie’s plotline, the controlling idea provides a clear through-line that resonates with the target audience. For example, a gym franchise specializing in short, high-impact workouts might distill its controlling idea to "twenty minutes, twice," emphasizing the convenience and efficiency of their program.
Applying this concept to financial planning, advisors should identify the core message they want to convey. This might focus on achieving specific financial goals, securing retirement, or building generational wealth. Once the controlling idea is established, all marketing materials, client communications, and even internal discussions should reinforce this central theme. This disciplined approach enhances brand clarity and ensures that all messaging resonates with the client’s aspirations and needs.
StoryBrand.Ai: Automating the Narrative Process
To further assist businesses in crafting their StoryBrand narrative, Miller launched StoryBrand.Ai, a powerful online tool that automates much of the process. For a monthly fee, businesses can access a suite of resources, including brand scripts, website wireframes, social media content, and email templates, all aligned with the StoryBrand framework. This tool simplifies the implementation of the framework, making it accessible to businesses of all sizes.
Inviting Clients into Their Story: The Core of Effective Financial Planning
The central message of StoryBrand resonates deeply: "Nobody wants to hear your story; they want to be invited into a story." This simple yet profound principle has the potential to transform how financial advisors connect with their clients. By shifting the focus from their own expertise to the client’s journey, advisors can create a more meaningful and impactful relationship. The client becomes the hero of their own financial story, empowered to take control of their future with the guidance and support of their trusted advisor. This approach not only enhances client engagement but also elevates the role of the financial advisor from a provider of services to a true partner in achieving financial success.
