Editor’s note: Bryce Sanders is a longtime columnist with Rethinking65. Read more of his articles here.
Bryce Sanders
Politics is a serious subject. People often have polarized political views and are intolerant of dissent. Abraham Lincoln said at the 1858 Illinois Republican State Convention, “A house divided against itself cannot stand.” You’ve probably also heard “everything old is new again,” a quote attributed to Jonathon Swift, the author of “Gulliver’s Travels.” And of course, we know “what goes around, comes around.” So, what you do when a client brings up politics or asks you, their financial advisor, about your political views? Here are 10 suggestions.
1. Set Guardrails
People have generally accepted that there are four subjects you should not talk about socially: sex, politics, money and religion. Once again, Jonathan Swift enters the picture. Back in 1721, he felt people inherited their beliefs from their parents, not through making a conscious decision. Swift said, “You cannot reason someone out of something he or she was not reasoned into.”
When a client brings up politics, you can respond, “There are four subjects where I tend to keep my views private. Our relationship involves discussing money, so the list between us is three topics. You wouldn’t talk about your sex life with your barber. I avoid sex, politics and religion for the same reason.”
2. Be Respectful
You might not want to talk about politics, but you should not be dismissive. Do not laugh, or make it sound like they are joking. This issue is important to them. Do not convey a “lets talk about something else” attitude. Before you change the subject, you should acknowledge, “I realize this is important to you…”
Sometimes you and your client might agree politically. In this situation you might share your views. This might strengthen the relationship, and could also lead to future referrals. Don’t be afraid to tell your client, You and I tend to think the same on this subject.”
4. Discuss What Makes America Great
You admit politics is a polarizing subject. Even if you prefer not to talk about it, but can raise the conversation to a higher plane. A possible way to express this: “One of the things that makes our country so great is the freedom we all have to hold our individual viewpoints and voice our opinions at the ballot box. Many people in many other countries do not have this right. We should never take it for granted.”
5. Remind Clients ‘We Are All Patriots’
Very often we think those who agree with us are patriots and those who disagree with us seek to destroy our way of life. It is framed as the classic battle between good and evil. That is what polarizing means. Instead, try to seek common ground. A way to frame this conversation or something to just remember if the temperature in the room is rising: “We are all Americans. We all want what is best for our country. We may have two parties and their viewpoints differ, yet everyone wants the best outcome for our country. Each side simply has different paths to get there.”
6. Ask About Their Political Involvement
How involved have your clients gotten with a political cause? Are they armchair quarterbacks or true believers? Without getting into specifics, ask if they have volunteered to help their candidate get elected, and if they support a candidate financially through donations? This can move the conversation away from who each person supports to what support means, in practical terms.
7. Be Curious About Their Viewpoint
It is easy to get entrenched in your own viewpoint. Some people assume that others who do not agree with them are idiots. They have closed minds. A good strategy is to draw them out. You can tell them that you have not made your mind up yet and are interested in the reasons they support their candidate and their party’s platform. You are giving them the opportunity to convert you by sharing their compelling argument.
8. Inquire Where They Get Their Information
This continues the strategy of curiosity. If your client introduces facts or numbers into the conversation, ask them for more detail. Is this coming from established news organizations? Are they citing polling data? Some possible ice breakers: “If I would like to learn more, where would I look?” or “That’s interesting, where did you hear that?”
9. Catch Their Local Vibe
If you’d like to get a clearer picture of your clients’ political views, ask how they feel about their local representative. Years ago, research has shown that although people might “hate Washington” meaning Congress, they like their local congressional representative. Back in 2011, two-thirds of people surveyed might “hate Washington politicians” yet two thirds also favorably viewed their own representative. Local politics can be an area for building common ground with a client. Ask, “How do you feel about Representative (name). They are up for reelection this November.”
10. Connect the Political-Investing Dots
Ask your clients, “How do your beliefs influence your investing strategy?” Understanding this and showing interest can lead to business. Your client might have views concerning government policies toward the energy or technology sectors. Points of discussion can include what might happen, what companies could benefit, and what your firm may think. Ask clients who do some investing on their own, “Have you made any investments that align with how you see the future shaping up?
Politics can be a touchy subject. It can also be awkward to try to avoid the subject. Try to establish common ground without becoming confrontational.
Bryce Sanders is president of Perceptive Business Solutions Inc. He provides HNW client acquisition training for the financial services industry. His book, “Captivating the Wealthy Investor” is available on Amazon.
