ability to sell yourself Archives - Don Connelly & Associates

Top 5 Critical Acquired Skills Financial Advisors Need for Success

October 16, 2023 / by Don Connelly / Best Practices / 0 comments

There was a time in the not-so-distant past when the only skill you needed to succeed in financial services was how to sell. The business of selling investments was almost entirely transactional, and all a financial advisor needed to do was shake the bushes for prospects and close them on a product sale. It was not easy by any means, and only the most tenacious advisors survived.

Certainly, that required some skill, but most were learned through memorizing scripts and drilling on closing techniques. The rest was all about persistence in dialing the phone.

Fast forward to today, and the game has changed drastically. With compensation coming largely from recurring revenue from assets under management or planning fees, advisors have had to develop an entirely new skill set. Tenaciousness, persistence, dogged determination, and knowing how to sell are still essential, but they take a back seat to more critical skills needed to succeed in the business today. Here are five such acquired skills you need to master.

Successful Selling Habits for Advisors Who Don’t Want to Sell

February 20, 2023 / by Don Connelly / Marketing Yourself / 0 comments

Many financial advisors resist the notion that they must be good at selling to be a successful advisor. Some go out of their way to distance themselves from the “salesperson” label. That’s fine because when you consider the totality of what quality financial advisors do, it doesn’t fit the traditional definition of “salesperson.” However, that doesn’t get around the fact that, regardless of their profession, for anyone to be successful, they must be able to sell.

Advisors Who Don’t Want to Sound “Salesy” Need to Master Soft Skills

January 9, 2023 / by Don Connelly / Marketing Yourself / 0 comments

Many financial advisors don’t like to be thought of as salespeople. In fact, they despise it. In part because they work hard at earning the distinction of being an “advisor.” Also, the public has been conditioned to avoid salespeople masquerading as financial advisors. But in reality, anyone in the business of building a clientele and offering services has to be able to sell.

To convert prospects into clients, advisors must sell themselves and then their solution. To make money, they must get their prospects and clients to act on their solution, which requires sales skills. Most advisors understand that, but their greatest fear is coming across as a salesperson or sounding too “salesy.”

If that is your fear, let me put your mind at ease. First, it’s important to understand what it means to be “salesy.” That term is generally applied to a high-pressure approach that makes prospects uncomfortable. People don’t want to deal with salespeople who are pushy and don’t listen to them.

That’s not you.

3 Soft Skills Advisors Need to Refine for an Immediate Connection with Prospects

May 16, 2022 / by Don Connelly / Managing the Relationship / 0 comments

Not to diminish the hard work, effort, and time that goes into becoming a financial advisor—few professions are as demanding—but the essential skill advisors must acquire is the ability to sell. Perhaps a more acceptable term would be “the art of persuasion.” Whichever way you want to frame it, if you have difficulty persuading or convincing people to take action, you stand little chance of success.

Of course, that’s true of just about any profession that requires changing or influencing people’s behavior. It just happens to be more challenging when selling financial advice and expecting to get paid for it. Advisors must understand that buying an intangible service requiring people to trust that the advisor can deliver that intangible value is scary for most people. It’s far less threatening to stay with the status quo and do nothing.

The trouble is, if you can’t convince people to follow you or your advice, you aren’t accomplishing anything. To overcome the inherent trust deficit and open prospects’ minds, financial advisors must constantly refine three critical soft skills, or they will have fewer chances to demonstrate their highly trained competencies.

How to Find What Makes You Different from Other Advisors

July 27, 2015 / by Don Connelly / Marketing Yourself / 0 comments

The financial services marketplace is heavily commoditized. There are lots of firms offering basically the same products to the same people, so being the same as everyone else in this industry will not cut it. In order to succeed you need to quickly identify what makes you stand apart from the crowd. Ask yourself these questions in order to find out if you have the unique attributes you need to succeed.

Your Selling Skills Are a Reflection of Your Self-confidence

July 24, 2014 / by Don Connelly / Marketing Yourself, Prospecting / 0 comments

Would you open an account with a Financial Advisor who was nervous and unsure of himself? Neither will your prospects.

Your livelihood is dependent upon your ability to sell yourself.

How well you sell yourself is in direct proportion to your self-confidence. The more success you have, the more you believe in your abilities and the higher you go. Top tier Advisors are supremely confident in their ability to influence and persuade. They have overcome the fear of failure.

It takes self-confidence to move another person to take action.