There is a popular proverb that says "Give a man a fish, and you feed him for a day. Teach a man to fish, and you feed him for a lifetime." This proverb teaches us that we will have a more lasting impact if we teach people how to do something themselves rather than just doing it for them.
If you dive deeper into this proverb (as lawyers it is our duty to be analytical, so bear with me), it also offers insight into how we can create quality and caring relationships. Because fishing is hard: there are many component parts the rod and reel, fishing line, the fishing weights, bobbers, fish hooks, and of course the bait. Teaching someone to fish is no doubt a commitment of time and patience.
We've all had mentors who have made a difference in our lives. And through the act of mentoring or teaching, a relationship develops as two people show they care for and respect each other.
Legal service in the 21st Century
Practicing law in the 21st Century is not your parents' or grandparents' legal landscape. There are more than 20,000 licensed and registered attorneys in the metro-Detroit tri-county area alone. And if that is not hard enough, there are now low-cost online legal services that DIYers feel is a far superior legal solution than a lawyer.
It is incredibly challenging to gain and retain clients in a world of fierce competition and from people who don't think they need professional services.
SO, FIX IT ...
Take the extra steps
I work to be more than just a wealth manager for my clients. I strive to be my clients' "trusted advisor," the professional they turn to for their wealth management advice but ALSO the professional they turn to for recommendations outside of my expertise because I took time to develop the relationship and to show genuineness and concern.
For example, my clients have a young child and through our discovery process we identified that they didn't have a will to care for him. I recommended an estate planning attorney, and I also accompanied them to their meeting. I didn't say a whole lot in the meeting, and my clients really only asked me one question, to which I fumbled through the fact that I didn't have an answer.
That night, I received a text message from my friend who had introduced me to the clients. So-and-so "told me she's using you and very happy so far." I melted. I had been doing my best for the clients to make sure they were well taken care of, and that one sentence made it all worth it.
As an attorney, develop those relationships, create new ones and deepen existing ones to be their most trusted advisor, whether it's related to legal services or otherwise. There's always going to be a less expensive or more experienced attorney out there, and it is the Trusted Advisor-Client relationship that will stand the test of a changing legal landscape. Because, after all, we are all better working together.
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Attorney Kyle Zwiren works with Financial Architects Inc., an independently-owned company located in Farmington Hills. Zwiren and his team serve attorneys and other professionals to help them design financial plans in line with their goals and based on optimal efficiency. He practiced law prior to becoming a Financial Architect and left the practice to follow his passion. To talk to Zwiren about other topics featured in The Economic Blueprint, email him at kzwiren@financialarch.com or call him at 248-482-3622.
Published: Fri, Aug 30, 2019
