3ethos CEO spoke to MarketWatch about what clients are looking for and how elite advisors can deliver.
According to Trone, genuine leaders and stewards are able to stimulate the hormone oxytocin in prospects and clients. “Oxytocin is the fuel for trust,” said Trone, who is also the co-author of a soon-to-be published book on the subject, LeaderMetrics — What Decision-makers Need to Know When Serving in a Critical Leadership Role. “Have you ever heard anyone say ‘I’m warming up to this person, or to this idea?’ That’s what’s going on, they literally are warming up.”
By contrast, Trone said advisers who are using complex communications and analytics produce the hormone cortisol in prospects and clients. “Cortisol has the opposite effect on trust,” he said. “It’s the ‘fight or flight’ hormone. Prospects don’t take the advice because they don’t trust the source.”