Don Connelly, Soft Skills Trainer for Financial Professionals

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.

Make Yourself Irreplaceable by Making Yourself Different

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If you do what every other advisor is doing, you’ll be just like all other advisors. To become successful, you need to offer something different – something that makes you worthy of being talked about.

Don’t be intimidated by self-perceived ‘smarter’, ‘more experienced’ or ‘more confident’ advisors. Don’t try to ‘better’ them. Think instead about what you can do differently.

Make it your aim to do what other advisors don’t do, and you’ll attract and retain clients for the long term. Here are a few things you can do to make yourself different.

4 Key Strategies to Kick-start Your Financial Advisory Practice

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Establishing yourself as an advisor will take dedication, time and sound strategic thinking. Here are some key strategies that will help you kick-start your financial advisory practice.

#1. Develop a business plan

No one succeeds without a plan. It’s the first step in building a credible business. No matter how good you are at your job, if you don’t know where you want to go, you won’t grow a healthy business.

6 Reasons Why You Should Specialize in The Kind of Financial Advice You Give

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In previous posts we’ve discussed the importance of identifying your ideal client in terms of their attributes – be it occupation, geographical location, etc. But if you are to stand out in a crowded market you also need to pinpoint exactly what you can offer your clients in terms of services.

As part of your marketing strategy aim to narrow down to the field or specialty you’re best suited to offer. Don’t try to be ‘jack of all trades’ by offering to provide advice on estate planning and taxation, and everything in-between. If you do, you’ll end up ‘master of none’.

People need to know you are the expert in your field, otherwise you won’t become highly referable. Here’s why you should specialize in the kind of financial advice you give.

A Reminder: The Trend Is Your Friend

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I get asked a lot if I coach Advisors and the answer is “No, I don’t coach. I remind.” Literally. I think teaching is showing someone how to do a job. Coaching them is showing them how to get better. I think you get better by going backwards, by going back to the basics, so let me give you the most basic investing thought I can give you.

Watch the video or read the transcript below to learn the most basic investing thought and why the trend is your friend.

Why People Postpone Investing and How to Convince Them to Act

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People postpone investing for a variety of reasons. It’s your job to identify the source of their inaction. Then you can present them with a strong case as to why they need to start an investment plan.

Here are some reasons why people may be reluctant to invest, and how to change their mind and influence them into action.

How to Elevate Your Brand and Justify Your Fees

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If you provide above average service, you deserve to charge above average fees. Don’t underestimate yourself. Make sure you get paid your worth by focusing on creating a business brand and style that clearly communicates your value.

Price is never the only consideration.

How to Stop Self-sabotaging Behaviors

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Behavior is said to be self-sabotaging when it creates problems and interferes with your life and goals. You may well be self-sabotaging without even realizing it.

There are many reasons you could be self-sabotaging – from holding dysfunctional beliefs to underestimating your abilities. If you don’t understand if and why you’re performing these types of actions, you will end up in a cycle of ever-increasing patterns of self-defeat. And these patterns are difficult to escape from.

Here are some common self-sabotaging behaviors you may be guilty of, with a look at why you may be doing them and how to stop.

The Success Formula

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I came across an article I thought was terrific. It’s called The Success Formula, apparently it’s from a book which I must admit I have not read, a book by Bob Adams called Streetwise Business Tips: Two Hundred Ways to Get Ahead in Business, Most of Which I learned the Hard Way, which is a great title. It was published by Adams Media Corp.

And there are ten steps in this success formula.

Watch the video or read the transcript below to learn what these ten steps are – It’s a long list but it’s well worth reading as it really is a great formula for getting ahead.

How People Pick a Financial Advisor

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When people choose a financial advisor, they’re looking for someone who’s not only qualified but someone they can trust. Without these attributes you won’t get hired. But in this crowded industry – one that’s projected to grow 15% more by 2026 – it will help if you understand other factors people may consider important in a prospective advisor.

Here are a few things to remember as important to people who pick a financial advisor.

Why You Need a ‘Why I Am Here’ Story

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We all know that everyone likes a good story, a fact that’s backed up by science. When we hear a story that resonates with us, our levels of the ‘feel good’ hormone oxytocin rises. This motivates us to work with others and has a positive impact on our social behavior.

Stories can also help to build connections and create empathy with prospects and clients.

So, it’s no surprise that story form is great for illustrating to prospects that you are there for the right reasons – that you’re not in this business simply to make money but to add value to people’s lives.

Here are a few ways developing a ‘Why I Am Here’ story will help you grow your business.

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Articles by: Don Connelly