Business Development in the Age of Digital Privacy and Personalization
Overview
During and post pandemic affluent consumers of all generations will work remotely more often, enabling them to become more digital, and generating more personal data, than ever before. Milton Pedraza, Luxury Institute CEO, shared insights and recommendations on how human emotional intelligence optimized with innovations in advanced personalization through privileged access to personal data, powered by AI, can be implemented to achieve high-performance client relationship building today, and beyond.
Insights and Key Takeaways
The top three best practices in developing relationships are active listening, emotional intelligence, and building trust. Neuroscientific research on oxytocin – the trust and relationship molecule – reminds us that in every initial interaction with a human being we have two subconscious questions:
- Do I trust this person?
- How do I get them to trust me?
An innovator in the ultra wealth industry for 30 years, Milton Pedraza, CEO at the Luxury Institute, LLC, promotes achieving not just good, but excellence, in the wealth advisor field. Pedraza believes this is singlehandedly accomplished through creating trust. To note, there is a difference between operational trust and what Pedraza deems, “best interest trust,” meaning first and foremost, your clients’ best interests are always top-of-mind.