October 5, 2020 / by Don Connelly / Marketing Yourself / 0 comments
The most significant transfer of wealth between generations is underway right now. For Financial Advisors, it could be an extraordinary opportunity, or it could threaten their very survival. Ultimately, it’s a matter of trust.
Do investors have trust issues with Financial Advisors? A study by the CFA Institute revealed that the financial services industry is among the least trusted industry. Only half of those surveyed indicated they trust the financial service professionals to do what’s right. In a separate survey, the CFP Board found that just 40% of investors trust financial advisors to put their interests first.
Of the emerging group of affluent investors, millennial and Gen Z investors – the ultimate beneficiaries of the great $30 trillion wealth transfer occurring over the next 30 years – may be the least trustful.
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Why It’s Critical for Advisors to Build Online Influence
October 5, 2020 / by Don Connelly / Marketing Yourself / 0 comments
The most significant transfer of wealth between generations is underway right now. For Financial Advisors, it could be an extraordinary opportunity, or it could threaten their very survival. Ultimately, it’s a matter of trust.
Do investors have trust issues with Financial Advisors? A study by the CFA Institute revealed that the financial services industry is among the least trusted industry. Only half of those surveyed indicated they trust the financial service professionals to do what’s right. In a separate survey, the CFP Board found that just 40% of investors trust financial advisors to put their interests first.
Of the emerging group of affluent investors, millennial and Gen Z investors – the ultimate beneficiaries of the great $30 trillion wealth transfer occurring over the next 30 years – may be the least trustful.
Read more
How to Become a Better Listener
July 13, 2015 / by Don Connelly / Managing the Relationship / 0 comments
As Calvin Coolidge once said “No one ever listened themselves out of a job” so why do so many advisors find it difficult to stop talking and listen to their clients?
In order to become a great advisor, you need to be a good listener. It’s the only way you’ll get to understand your clients’ and prospects‘ goals. It’s the only way you’ll be able to overcome their objections. Plus, the more people are given the opportunity to talk the more they will feel that you’re interested in them. And they will like you for it. Listening will help you start a client relationship and keep your existing relationships on a firm footing.
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Financial Advisors Tips: How to Get Referrals
January 22, 2015 / by Don Connelly / Don Guest Authoring at..., Prospecting / 3 comments
A wag once noted that having to call or introduce yourself to strangers is God’s revenge for not getting referrals. The reality is that every time you open a new account, you’ve lost your best prospect. Referrals are essential, yet asking for them makes most Advisors uncomfortable.
Allow me to offer two suggestions.
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Without Integrity, There Is No Credibility
March 13, 2014 / by Don Connelly / Managing the Relationship / 0 comments
If you are to be chosen as someone’s Financial Advisor, you must pass three tests. The person must like you and think you are smart, but, most importantly, the person must trust you. There is no substitute for trust.
When mom and dad leave you after that first meeting, they do not talk about convexity or tactical asset allocation.
They ask themselves one question: “Do you trust him? Do you trust her?” If the answer is ‘no’ or ‘not really’, you stand no chance of getting those folks as clients. There are too many other Advisors they can turn to.
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