Don A. Connelly is a speaker, motivator and educator for financial advisors. During a career of more than 40 years on Wall Street, he worked for nearly 19 years as company spokesperson, senior vice president and senior marketing officer for Putnam Investments, in addition to holding positions as a stock broker, financial planner, branch manager, wholesaler and national sales manager. As founder and CEO of Don Connelly 24/7, he provides timely and provocative sales ideas to thousands of financial professionals, 24 hours a day, seven days a week.

First Meeting with a New Client—Preparation Checklist

First Meeting with a New Client – Preparation Checklist

The first meeting with a new client should be a momentous event for both you and the client. For your client, it’s the first opportunity to validate their decision to select you as their advisor. For you, it’s the first opportunity to showcase your professionalism and reinforce your new client’s decision. You both hope this will be the beginning of a long and trusting relationship.

As you prepare for your first client meeting, it’s critical to remember that you are being carefully evaluated. Your new client is essentially taking a leap of faith in choosing you, and you must always strive to make them feel like they have made the right choice. With that in mind, your first meeting sets the tone for the entire relationship. Plan it with care.

Read more

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

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

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.

Read more

Keep Your Clients Focused on What’s Knowable and Important

Keep Your Clients Focused on What’s Knowable and Important

The media has always run rampant with scary headlines. That’s how they increase readership or website traffic. However, in this period of increased market volatility, economic uncertainty, geopolitical upheaval, mixed COVID signals, and deepening political divisions, the headlines can be incredibly overwhelming or, at the very least, extremely distracting.

Trying to consume all the news coming at us 24/7 is like trying to drink from a firehose. It’s critical to understand that the barrage of bad news and hype around market events can trigger emotional reactions that often lead to making costly decisions around their finances.

Read more

3 Steps to Build Your Self Confidence Regardless of Your Experience Level

3 Steps to Build Your Self Confidence Regardless of Your Experience Level

At some point in their careers, every financial advisor suffers from the affliction of self-doubt. For most of us, it overcomes us at the beginning of our careers. For some, it can linger on for several years. Heck, even experienced advisors have bouts of self-doubt, but they tend to be rare. Whatever the reason for it, self-doubt or lack of self-confidence can be a career killer or, at the very least, a painful way to go through life.

There probably isn’t an advisor among us who early on thought to themselves, “Why would anyone want to work with me?” “I work in a cubicle. I’m just a few years out of college. Many of the people I talk to are old enough to be my parents. The younger ones are successful in their careers. What business do I have telling them how to become financially successful?”

Sound familiar?

Read more

3 Key Steps Remote Advisors Must Take to Make Emotional Connections with Clients

3 Key Steps Remote Advisors Must Take to Make Emotional Connections with Clients

Now that the pandemic is waning, many advisors are choosing to continue working remotely, finding that it increases their efficiency and that their clients enjoy the convenience of virtual communication. Many advisors and clients alike also enjoy the flexibility of a remote relationship. It appears that, on the surface, this new advisory model can be a win-win for advisors and their clients.

While that is sure to change the advisor-client dynamic, one thing that won’t change is the need for advisors to make an emotional, personal connection with their new clients as a prerequisite for an enduring relationship. But just how do advisors accomplish that virtually?

While the same things that can be said in person can be said virtually, there’s still a physical distance that needs to be made up. Virtual eye contact is not the same as physical eye contact. There’s a virtual buffer that diminishes the personal presence people feel. Without being able to see the full range of a person’s body language, how do you know if you are making an emotional connection?

Read more

Not Getting Through to Your Clients? 5 Ways to Step Up Your Engagement

5 Ways to Step Up Your Client Engagement

Most financial advisors understand the importance of client communications. Those who don’t find out the hard way that poor or infrequent communications is the number one reason clients leave their financial advisor, according to a Financial Advisor Magazine survey. But what if you feel you have a deliberate client communications strategy, yet your clients seem to be unresponsive or not engaging with you at a level that gives you confidence they are fully on board?

That’s not a good feeling, and it should sound alarms if you hope to maximize client retention.

Read more

Self-Discipline Is Key

Self-Discipline Is Key - AskDON Episode

An Advisor once sent me this message:

“You mentioned in one of your webinars that talent by itself means nothing. The key is to develop that talent into a skill. In your opinion, what is the most underappreciated skill among great advisors?”

Listen to this audio episode or read the transcript below to learn what I think great Advisors’ most underrated asset or skill is.

Read more

Mapping Out the Client Acquisition Timeline—How Long It Takes to Get a New Client

Mapping Out the Client Acquisition Timeline—How Long It Takes to Get a New Client

New clients are the lifeblood of a financial advisory practice, without which it could go into cardiac arrest. For newer financial advisors, acquiring new clients can’t happen fast enough. However, if obtaining clients was easy, anyone could be a successful financial advisor. Starting out, it’s an uphill battle that only the most determined can eventually win.

It also helps to have a systematic process for capturing leads, nurturing them through the sales funnel, and converting them into prospects, out of which a certain percentage become clients. That’s all laid out on a timeline that can vary significantly depending on the type of lead, where it came from, and how effective your process is for cultivating the lead. It could take anywhere from one month to a year for a lead to complete the journey through the funnel to becoming a new client.

Read more

Put Success in Perspective, Be Humble and Believe in Yourself

Don Connelly audio blog post

One of the challenges we all face is staying humble in the face of success. We work very hard to attain success. Stay humble when you do, and you’re going to be successful. I have a story I love about being humble, about putting success into perspective. It’s a story about the Vancouver Winter Olympics.

Watch this video or read the transcript below to learn the story about two Alpine skiers who achieved their two, very different goals at the Olympics.

Read more

1 2 3 48
top