/ by Don Connelly / Investing Wisdom / 0 comments
According to leading psychologist Danial Kahneman, people often form responses instinctively – accepting the first judgement that comes to mind. When left to own devices, we’re apt to make poor decisions based on fallacies or personal biases. And this is never truer than when it comes to investing.
The greatest challenge faced by any financial advisor is that of keeping clients invested for the long term. When the markets are down clients become anxious – they instinctively want to move their money out. Alternatively, they may want to start chasing ‘hot stocks’ in a bid to boost performance. Either way, they’re at risk of abandoning their long-term financial plan.
It’s your job to step into the breach and stop clients from making bad decisions. You need to act quickly to keep them invested.
Here’s how to stop clients from making bad decisions and help them stick to the plan – no matter what the market conditions are.
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Every Financial Advisor Needs to Tell Great Stories
/ by Don Connelly / Storytelling, analogies and power phrases / 0 comments
Human beings have an innate desire to tell and listen to stories. Good stories grab the attention and inspire people to act, which is why storytelling should be an essential tool in your armory. If you become a great storyteller, prospects and clients will leave your office remembering both you and your message.
Stories are also a great way to help make the unfamiliar familiar – they promote the understanding of complex issues. Plus, they’re effective at creating an emotional bond between storyteller and listener.
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How to Get Clients to Stick to the Plan
/ by Don Connelly / Managing the Relationship / 0 comments
It’s crucial that you get your clients to stick to the plan. If they don’t, they could forgo their comfortable retirement or build up debt when they put their kids through college. Your responsibility, as their financial advisor is to keep them on track. Here are three effective ways to do that.
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4 Things That Could Get You Stuck in a Rut
/ by Don Connelly / Best Practices / 0 comments
You won’t get stuck in a rut by chance. There’s always a reason behind a lack of career progression – from letting fears rule actions to lacking a career vision.
Here are four behaviors to avoid if you want to prevent yourself from getting stuck in a rut.
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5 Steps to Improve Your Sales Skills
/ by Don Connelly / Marketing Yourself / 0 comments
Advisors often dislike being known as ‘sales people’ – they see the act of selling as somehow disreputable. In fact, this couldn’t be further from the truth.
Selling is essentially the art of persuasion. If you are to get people to open accounts with you, you need to convince them it’s the right thing to do. You need to become proficient at selling if you want to grow your business.
Top advisors are inevitably skilled salespeople. Make it your aim to become great at selling by taking the following steps.
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3 Types of Clients You Should Want to Attract and Retain
/ by Don Connelly / Prospecting / 0 comments
It’s surprising to find that certain broad sectors of the population still remain underserved in certain instances.
If you, unlike other advisors, can devise a strategy to attract and retain these potentially valuable clients, you could vastly improve your business.
Let’s have a look at three types of clients you should try to attract and retain.
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Five Ways Tracking Can Improve Your Practice
/ by Don Connelly / Best Practices / 0 comments
If you don’t set clear targets or measure your performance, you won’t know if your business is going in the right direction. So, set aside time to identify the areas that are key to your overall success – then take steps to track how you’re doing. Your tracked data will help you understand how to improve or change things for the better so you can progress towards your ultimate goals.
Here are five ways how tracking can help you improve your practice.
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5 Ways to Develop Accountability
/ by Don Connelly / Best Practices / 0 comments
Accountability is a trait many advisors lack, but one that elite advisors always possess. No matter how great your talent you won’t get ahead unless you become accountable for your actions and the actions of your clients. Without accountability you won’t develop the self-discipline you need to take charge of your career and make changes for the better.
If you need help to develop accountability, here are five ways you can get started.
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How to Keep Clients Motivated and Stop Them from Making Bad Decisions
/ by Don Connelly / Investing Wisdom / 0 comments
According to leading psychologist Danial Kahneman, people often form responses instinctively – accepting the first judgement that comes to mind. When left to own devices, we’re apt to make poor decisions based on fallacies or personal biases. And this is never truer than when it comes to investing.
The greatest challenge faced by any financial advisor is that of keeping clients invested for the long term. When the markets are down clients become anxious – they instinctively want to move their money out. Alternatively, they may want to start chasing ‘hot stocks’ in a bid to boost performance. Either way, they’re at risk of abandoning their long-term financial plan.
It’s your job to step into the breach and stop clients from making bad decisions. You need to act quickly to keep them invested.
Here’s how to stop clients from making bad decisions and help them stick to the plan – no matter what the market conditions are.
Read more
5 Costly Mistakes That Could Lose You Clients
/ by Don Connelly / Managing the Relationship / 0 comments
When a client takes you on, they’ve decided they’re comfortable getting into a long-term relationship with you – and that’s a huge compliment. If you want to retain them, you must work hard to maintain the integrity of that relationship over the long term.
Don’t make one of these errors, or you could end up in the firing line.
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