First Meeting Conversations You Need to Have with Prospective Clients

First Meeting Conversations You Need to Have with Prospective Clients

Let’s be honest. Many financial advisors view the first client meeting frettingly as an obstacle to overcome on their way to, hopefully, establishing a new client relationship. After all, the way you start a first client meeting sets the tone for how your relationship will develop—if it develops at all. Prospective clients don’t make it any easier, often approaching their first advisor meeting with an air of skepticism or apprehension. This creates an unnatural tension that crowds out trust-building. That tension must be broken at the outset, and the ball is in the advisor’s court.

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The Right Story at the Right Time Can and Will Tip the Decision in Your Direction

The Right Story at the Right Time Can and Will Tip the Decision in Your Direction

When you meet with prospective clients, they will very possibly have concerns. They may be worried about investing per se, undecided about whether now’s the right time to invest, or unsure if you are worth your fees.

Don’t see their concerns as obstacles but as an opportunity to build trust. If you suspect they feel anxious, step in tell them an “I know what you’re thinking” story to reassure them they’re doing the right thing. This is a story designed to take away some of your prospect’s concerns.

Here are some situations where a good story can help persuade prospects to hire you as their advisor.

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5 Top Priorities for Advisors Who Want to Build a Healthy Practice

5 Top Priorities for Advisors Who Want to Build a Healthy Practice

If you want to build a healthy practice, there are several things you must prioritize, including the following.

#1. Prospecting
To run a healthy business, you need a pipeline full of good leads. Referrals will probably not be enough to grow your business – and networking, whilst productive, won’t guarantee that you’ll meet the right people. So, prospecting (i.e. actively recruiting or seeking out new clients) must become your priority.

Prospecting may be the least favorite part of your job. If this is the case, work on developing your soft skills so you become more comfortable with this task.

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How to Get Clients to Stick to the Plan

It’s crucial that you get your clients to stick to the plan. If they don’t, they could forgo their comfortable retirement or build up debt when they put their kids through college. Your responsibility, as their financial advisor is to keep them on track. Here are three effective ways to do that.

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How to Keep Clients Motivated and Stop Them from Making Bad Decisions

How to Keep Clients Motivated and Stop Them from Making Bad Decisions

According to leading psychologist Danial Kahneman, people often form responses instinctively – accepting the first judgement that comes to mind. When left to own devices, we’re apt to make poor decisions based on fallacies or personal biases. And this is never truer than when it comes to investing.

The greatest challenge faced by any financial advisor is that of keeping clients invested for the long term. When the markets are down clients become anxious – they instinctively want to move their money out. Alternatively, they may want to start chasing ‘hot stocks’ in a bid to boost performance. Either way, they’re at risk of abandoning their long-term financial plan.

It’s your job to step into the breach and stop clients from making bad decisions. You need to act quickly to keep them invested.

Here’s how to stop clients from making bad decisions and help them stick to the plan – no matter what the market conditions are.

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Getting Clients to Talk about Money

Getting Clients to Talk about Money

As financial advisors we’re comfortable talking about money, it’s what we’re trained to do. But for everyone else it’s a different story. Most people feel uncomfortable talking about money, so you need to consider how to introduce the topic in a relaxed way.

Don’t dive into the numbers at the initial meeting. Instead focus on building rapport with clients; then ask them what it is they want money for. The goals must come first – then the money. Once you understand your client’s vision of the future you can start doing the math on how to get there.

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