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.
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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.
Read more
Convincing Your Clients to Sacrifice for a Reward They Can’t Visualize
December 8, 2014 / by Don Connelly / Best Practices / 0 comments
I am convinced the hardest thing in the world to sell is advice, especially when the reward for following said advice is so far down the road it can’t be visualized. “Trust me” is an understatement.
Convincing others to settle for delayed gratification is a challenge you face every day.
You must establish such a high level of trust with people that they allow themselves to be helped. You have to make them comfortable enough to tell you their goals and their dreams. You have to enable them to see themselves attaining those goals.
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