For many financial advisors, the question "What do you do?" often leads to an awkward exchange. The moment you respond, "I am a financial advisor," the prospect may quickly shut down the conversation with, "I already have a broker."

ThinkAdvisor recently published helpful advice on how to handle this situation. At first, the statement may sound dismissive or even hostile, but in most cases, it reflects a misunderstanding of what advisors actually do. According to ThinkAdvisor, many people assume that having one broker is sufficient, much like having one doctor or one barber. Others equate all "brokers" with stock or bond salespeople, overlooking the broader role that a full-service advisor plays.

Instead of walking away, advisors can reframe the conversation. Here are several approaches, according to ThinkAdvisor, to keep the dialogue open without sounding pushy:

Acknowledge their success

Suggest that successful people often have multiple advisors, much like they may have more than one doctor. By recognizing them as part of that "successful club," you open the door to discussing why a second perspective can be valuable.

Ask for a recommendation

Position yourself on their side by asking what they like best about their current advisor. If they struggle to answer, that may reveal gaps. If they respond enthusiastically, you can gently ask whether there is anything their advisor could do better.

Highlight your service standards

Mention that you strive to meet with clients quarterly, even in volatile markets, and then ask when they last met with their advisor. This frames the discussion around clear, reasonable benchmarks for service.

Encourage self-assessment

Ask, "How have they done for you lately?" This shifts the focus to their own evaluation rather than your pitch, giving you insight into what they value most from an advisor.

Offer yourself as an alternative

Respectfully hand them your card and say, "If anything changes, please give me a call." Then change the subject. This positions you as a professional option without pressure.

Never demean their advisor

Avoid negative comparisons. Clients do not want to feel that for you to "win," their current advisor must "lose." Instead, present yourself as a fiduciary advocate and a trusted alternative should circumstances change.

According to ThinkAdvisor, by reframing what may seem like a rejection, advisors can transform a dead-end response into an opportunity to build trust. Respect, curiosity, and professionalism go a long way in making sure you remain top of mind if and when their circumstances change.

Financial Advisor Transitions consults advisors nationwide to explore employment transition options and to preserve and protect their practice in any transition that they make.