/ by Don Connelly / Prospecting / 0 comments
People trust recommendations from people they know, and the lifetime value of a new referral customer is higher than of a client acquired in another way. Despite this, advisors shy away from asking for referrals – citing that to be one of their most awkward tasks.
The good news is that, if asked at the right time, most clients would be happy to advocate on your behalf. Less than a third of advisors ever ask though. Don’t act like the majority – because referrals are at the core of growing your business.
In this post we’ll look at some best practices for gathering referrals.
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Don’t Sell Investments – Focus on The Relationship
/ by Don Connelly / Presentation Skills / 0 comments
I believe in my heart someone should transfer their entire account to you without any investment recommendations. We’re not in the investment business, investments are our products. We’re in the business of getting kids through school, minimizing taxes, and getting people retired. We have to focus on the relationship, not the money. If you sell investments, sooner or later your clients will be angry. All investments have their bad days as well as their good days. So don’t discuss investments, it’s not necessary.
Listen to this audio episode or read the transcript below to learn a story that illustrates how focusing on the relationship without discussing investments will help you open the account.
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11 Best Practices for Gathering Referrals
/ by Don Connelly / Prospecting / 0 comments
People trust recommendations from people they know, and the lifetime value of a new referral customer is higher than of a client acquired in another way. Despite this, advisors shy away from asking for referrals – citing that to be one of their most awkward tasks.
The good news is that, if asked at the right time, most clients would be happy to advocate on your behalf. Less than a third of advisors ever ask though. Don’t act like the majority – because referrals are at the core of growing your business.
In this post we’ll look at some best practices for gathering referrals.
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How to Prepare Your Clients for The Next Market Correction
/ by Don Connelly / Managing the Relationship / 0 comments
The Natixis Investment Managers 2018 Global Financial Professionals Survey revealed that 57% of advisors believe investors are unprepared for a downturn. This illustrates how difficult it is to convey the nature of turbulence to clients – and that volatility is an unavoidable part of the investment process.
Take the lead – prepare and educate your clients on the nature of market volatility. Then it will be far easier to counter their anxiety when the next market correction comes.
Here are 5 things you can do right away.
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How to Prepare Yourself for Market Corrections
/ by Don Connelly / Best Practices / 0 comments
Stocks will edge higher, sometimes for prolonged periods of time, but this should never give rise to complacency. Because there’s always a ‘bear market’ waiting just around the corner.
Don’t get caught out when the markets start to fall. Prepare yourself in advance, both for your own peace of mind – and so you’re ready to reassure clients that there’s no reason to panic.
Here are some things you can do to make sure you’re in command when market corrections take place.
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There Are Three Main Ways to Gather New Clients
/ by Don Connelly / Prospecting / 0 comments
There are three main ways to gather new clients and grow your business. To excel, you should put your effort into mastering all three of them.
1. Acquiring new clients from existing clients
Referrals are by far and away the best way to gather new clients. And the only way you can earn referrals is by becoming referable – which will only happen once your clients feel you’re delivering them a 5-star service.
Clients won’t refer you until you become part of their inner circle, when you become someone they like and trust on both a personal and professional level.
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What Does It Take to Turn a Prospect into a Client?
/ by Don Connelly / Prospecting / 0 comments
If you’re booking plenty of appointments, that’s great news. But if you’re not consistently opening new accounts as a result, it’s a wasted effort. Read on to find out what you need to do to turn a prospect into a client.
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Self-sabotage – 10 Behaviors to Avoid
/ 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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How to Respond to the Comment ‘I Don’t Want to Lose Money’
/ by Don Connelly / Presentation Skills / 0 comments
I received an email from John in Texas with an interesting question. He said, “Every time I go into an appointment now, the first thing out of somebody’s mouth is, ‘I don’t want to lose any money.’
And I’ve been saying, ‘I don’t know anyone that ever does,’ as an ice breaker but I don’t feel comfortable. Can you give me a suggestion how to respond to that comment?”
Watch the video or read the transcript below to hear Don’s thoughts on how to respond to this question.
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5 Reasons Why You Should Only Work with ‘Ideal Clients’
/ by Don Connelly / Prospecting / 0 comments
Rather than pouring all your energy into searching for any and all new clients, you should be working out how to attract your ‘ideal clients’. If you agree to work with everyone who comes your way, your business will not continue to be sustainable.
Here are five reasons why it will pay you to drill down to your target market and decide only to work with these types of people.
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