December 18, 2023 / by Don Connelly / Best Practices / 0 comments
We’ve made no secret of the fact that a trust deficit exists between the public and the financial services industry. Advisors, new and experienced, must work consciously and deliberately every day to overcome it. The challenge for advisors is they could be the most trustworthy person in the world, but without credibility, there can be no trust.
There could be trust, but it might only be fleeting without proof that it’s genuine. That’s where credibility comes in. The building blocks of trust include honesty, transparency, reliability, consistency, competence, empathy, authenticity, and vulnerability—traits that, when demonstrated by actions, create credibility. An advisor’s credibility is bolstered even more when both parties feel they benefit mutually with a vested interest in each other’s success.
Here are five ways advisors can establish credibility by demonstrating the building blocks of trust.
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5 Ways Financial Advisors Can Establish Credibility and Build Trust
December 18, 2023 / by Don Connelly / Best Practices / 0 comments
We’ve made no secret of the fact that a trust deficit exists between the public and the financial services industry. Advisors, new and experienced, must work consciously and deliberately every day to overcome it. The challenge for advisors is they could be the most trustworthy person in the world, but without credibility, there can be no trust.
There could be trust, but it might only be fleeting without proof that it’s genuine. That’s where credibility comes in. The building blocks of trust include honesty, transparency, reliability, consistency, competence, empathy, authenticity, and vulnerability—traits that, when demonstrated by actions, create credibility. An advisor’s credibility is bolstered even more when both parties feel they benefit mutually with a vested interest in each other’s success.
Here are five ways advisors can establish credibility by demonstrating the building blocks of trust.
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Prospect Red Flags Financial Advisors Shouldn’t Ignore
December 4, 2023 / by Don Connelly / Managing the Relationship, Prospecting / 0 comments
Almost every financial advisor starts in the same place—with a lot of time on their hands and not many clients. That’s when the criteria for selecting which prospects to work with is at its broadest—essentially, anyone willing to pay me anything.
It’s not until your business expands, reaching the point when you’re servicing 50 or more randomly chosen clients, that your time starts to become much more valuable. Eventually, you reach your capacity for new clients, and your revenue stops growing. Worse, you’re not enjoying your work as much as you hoped.
That’s when you realize it shouldn’t be about the number of new clients you take on; it should be about the quality. It’s about saying ‘no’ to prospects who don’t meet your criteria for the type of client you want to work with, which isn’t easy if you’re still chasing growth. But ultimately, saying no to prospects who are not a solid fit is good for you and them.
Here are some major prospect red flags warning you to move on.
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Self-sabotage – 10 Behaviors to Avoid
December 3, 2018 / by Don Connelly / Best Practices / 0 comments
Self-sabotaging behaviors can create problems, interfere with goals and ultimately put your career at risk. Without even realizing it you could be a victim of self-sabotage. Be honest and identify the traits that are holding you back so you can make the positive changes required to move forward.
Here are ten ways you could be self-sabotaging – along with some recommendations on how to do things better.
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What Not to Do in The First Client Meeting
April 3, 2017 / by Don Connelly / Managing the Relationship / 0 comments
It takes hard work and perseverance to set up a first appointment with a potential client. Don’t waste this precious opportunity by approaching the meeting in the wrong way – because it’s unlikely you’ll get a second chance.
There’s no ‘first meeting rule book’, however there are some things to avoid if you want to move things forward. Here are a few.
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5 Personality Traits that Make a Great Leader
April 10, 2014 / by Kirti Anand Sharma / Connelly Corner / 0 comments
Some believe Leadership is about Power, Prestige and Status. Some feel it’s a rare innate talent to control others and just delegate. Some think of leadership as an act and not a position.
Existence of multiple theories and examples on “Leadership” are often confusing and easily lead to mixed messages or misconceptions. Amidst this confusion, the fact that remains unchanged is that: Strong leadership is critical for Success in any Business.
What makes a great leader? Let’s explore the 5 key traits that will help you be the kind of Leader your clients and prospects look for in their Financial Planners and the sales team look for in their managers .
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