Melissa Kidd is Director of Motem Ltd and has done some fascinating research into the challenges which advisers report having in conducting effective first meetings with a potential new client. Melissa shares some of the details and insights with us below:
In May 2025, I spoke to over 100 financial advisers about their first meetings with a potential client. Given the average lifetime value of a client, this is often the most profitable hour you can spend, And yet, many aren’t converting as often as they wanted or hoped.
And they weren’t sure why.
Here are the five most common challenges advisers shared with me.
1. Communicating Value Effectively
In the top spot was how to convey you’ll make a difference.
Yes, value is subjective. But one thing remains true in all cases: “When value exceeds price, people part with money”, as Grant Cardone says. One of the ways we uncover where clients perceive value to lie – is through asking questions.
But not any old questions.
Questions that we have earned the right to ask. Therefore, the timing of our query is crucial. The sequencing is an art. We start with those that are relatively easy to answer. And progress from there.
An effective question can bring clarity, connection and fresh thinking. All the while creating an experience where they feel safe. And one in which they leave feeling excited, hopeful and reassured.
Yes, you can answer expensive questions. But ultimately, you’re selling the invisible. And often this is hard to quantify over the short term. Many advisers I spoke to were confident in their technical ability, enjoyed cash flow modelling and diving into spreadsheets. But often people need more empathy, understanding and clear communication so they can leave that meeting feeling comfortable and confident to hand over their life savings.
If you’d like a menu of 15 first meeting questions – from which to pull – you can find one here.
2. Discussing Fees Clearly
The second stumbling block was talking about money: charges and fee structure. If it’s challenging to convey value, then discussing fees can feel clunky. Asking for money is often difficult. It can make us feel vulnerable: Can I really ask for that? What if they think it’s too much? What if they object? What will I say? Will they think I’m greedy?
As I result, some avoided the conversation altogether, saving it for a later stage. Others rushed this part – trying to get it over and done with.
Those advisers whose fee structure is changing often found it difficult to explain. They were concerned how to manage responses about previously “overpaying”. And now it seems that a lot of their first conversations are revolving around the perception that “you’re expensive”.
Some – keen to avoid being seen as expensive or over charging – couldn’t say how much the work would be – without lifting the bonnet.
But avoiding the fee discussion can create confusion, mistrust, or even resentment down the line. Prospects want transparency. They also want to feel that the investment they make is justified. Nobody likes feeling they’re overpaying.
Before having the fee conversation, remind yourself of how you change lives. When you adopt a useful mindset, this discussion becomes easier.
3. Asking for the Business Without Sounding Pushy
No one wants to sound like a second-hand car sales person. It feels grubby.
As a result, some would end the meeting with a vague phrase such as: “Let me know if you have any questions” or “I’ll leave it with you to think about.”
While well-intentioned, this can leave the prospect in limbo, when certainty is what prospects crave.
If you’ve asked questions and been able to articulate your value then moving to the next stage should be the next logical step. But it relies on getting the earlier steps in place.
4. Following Up When Prospects Go Quiet
Ghosting was another big theme.
Many advisers mentioned having had a great first meeting. The prospect was making all the right noises.
Then crickets. Radio silence. A lot of nothing.
It feels rude, it’s hard not to take it personally and many are left perplexed wondering what they could have said or done differently.
Not wanting to appear desperate or intrusive, they struggled to know what to send to get a response. It’s very normal. And yet once, you have a psychology-informed polite few phrases up your sleeve you can expect next-day responses.
5. Filling the Pipeline with the Right Prospects
Finally, advisers talked about the challenge of getting to the discovery meeting with the right people in the first place. Some said they had too many conversations with the wrong fit—people who weren’t ready, didn’t see the value, or weren’t financially suitable. Others simply weren’t getting enough enquiries at all.
The key here is clarity and consistency in positioning. Advisers who attracted the right prospects were clear about who they served, what problems they solved, and how they were different. They made it easy for referrers and potential clients to understand whether they were the right fit. They also had simple screening steps in place to filter leads before booking a meeting.
The Good News: These Are All Trainable Skills
What encouraged me most about this research is that these challenges can be overcome with the right structure and support.
That’s exactly why I created the Finesse Your First Meeting mentoring programme. It’s designed to help advisers convert prospects into clients without sounding salesy.
Over six months, we cover what to do before, during, and after the first meeting. Advisers get templates, scripts, menus of questions and fortnightly group coaching so they can communicate their value clearly, discuss fees with confidence, and fruitfully follow up.
If you’re curious about how it works, or if any of these challenges sound familiar, I’d love to hear from you.
To find out more about the programme, visit https://motem.co.uk/finesse-your-first-meeting/
We recently welcomed Melissa on our podcast, IFA Talk, which you can listen to here.
