/ by Don Connelly / Prospecting / 1 comment
I can recall few times in my career when business has been as slow as it has been recently. Perhaps the slowdown is due to the fast approaching year-end. Certainly, the pending Presidential election has a lot to do with it, as does the recent DOL running. Clients and Advisors alike have adopted a wait-and-see attitude. But there also are more traditional reasons at work.
People don’t enjoy the prospect of saving for a rainy day. There’s always a reason to delay investing, and never a ‘right’ time to make the move.
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Put The Client Before Yourself
/ by Don Connelly / Managing the Relationship / 0 comments
As you know I’m always on a lookout for a good story. I read a great story not long ago, in Motivational Manager, told by Dana McCary who is a motivational speaker.
He said that when he was growing up, he’d been a waiter at Opryland in Nashville. He learned a very important business lesson.
Listen to the story or read the transcript below.
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Approaching Strangers Can Only Change Your Practice for The Better
/ by Don Connelly / Prospecting / 0 comments
You were probably brought up being told ‘don’t talk to strangers’. However, this rule doesn’t apply to adults, especially if you work as a financial advisor. Many advisors struggle with ‘cold’ approaching and prospecting, because it makes them feel anxious and fearful. However, unless you conquer this fear you will not be able to take your business to the next level. People are voice-activated. They are not going to talk to you. You’ve got to talk to them.
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Get Involved in Your Clients’ Decision-Making Process
/ by Don Connelly / Managing the Relationship / 0 comments
To win new business, earn loyalty and get referrals, you need to focus on what your prospects and clients are thinking. We all have our own particular ‘mental model’ or way we see the world, based on our beliefs and experiences. According to classic consumer behavior theory we tend to follow similar thought processes when we make a decision whether to purchase a certain product or service.
By understanding this consumer behavior, you can tap into your prospects’ thought processes early on and influence decisions in your favor.
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Creating Urgency with Prospects
/ by Don Connelly / Prospecting / 1 comment
I can recall few times in my career when business has been as slow as it has been recently. Perhaps the slowdown is due to the fast approaching year-end. Certainly, the pending Presidential election has a lot to do with it, as does the recent DOL running. Clients and Advisors alike have adopted a wait-and-see attitude. But there also are more traditional reasons at work.
People don’t enjoy the prospect of saving for a rainy day. There’s always a reason to delay investing, and never a ‘right’ time to make the move.
Read more
You Have to Take Risks to Reach Your Goals
/ by Don Connelly / Investing Wisdom, Storytelling, analogies and power phrases / 0 comments
Here’s a Mr. and Mrs. Client story to help you explain to prospects and clients why taking risks is necessary.
Mr. and Mrs. Client, I know you know what to do. Let me show you how to do it.
You can watch the video or read the transcript, if you prefer.
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Learn to Manage Client Expectations
/ by Don Connelly / Managing the Relationship / 0 comments
Running the business gets in the way of growing the business. That’s a fact of life in the Financial Services industry. As the business gets bigger, an Advisor has to make a decision. Am I going to manage money or am I going to manage client expectations? It’s almost impossible to manage both. In my travels, I find most elite Advisors opting for outside management. They choose to manage their clients and their clients’ expectations.
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Four Client Retention Strategies to Try Out
/ by Don Connelly / Managing the Relationship / 0 comments
As in so many other industries, your business model as a financial advisor is to open new accounts and gather new assets on a continual basis. However, in order to succeed you need to combine this approach with a plan that ensures your clients will stick with you for the long term. You need to allocate time to both looking after existing clients as well as time to prospect. If you don’t, your current clients will feel discontented; they may start to look elsewhere, and they certainly won’t recommend you to others.
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Understanding Your Clients’ Behavior Is Key to Your Success as a Financial Advisor
/ by Don Connelly / Managing the Relationship / 0 comments
The more you understand what motivates your prospects and clients, the better your chances of success when it comes to attracting and retaining them. When you begin to see things from your clients’ and prospects’ point of view you can start to influence their decisions and help them make good financial decisions.
So break out of your own mindset. Step into their shoes: Then you will be able to build strong client relationships, anticipate your client needs and manage their expectations.
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A Blueprint for Aspiring Million Dollar Producers to Follow
/ by Don Connelly / Best Practices / 0 comments
A while ago I received an email from Guy Steele who is a friend and an advisor in Hawaii. He said:
“Give me an idea of how a million dollar producer works. How many calls a day do they make? How many hours a day do they work? Mentally what’s their mindset each day when they go to the office? Do you have a blueprint for aspiring million dollar producers to follow?”
Listen to Don’s answer or read the transcript below.
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Three Challenges Financial Advisors Face in Their Daily Work
/ by Don Connelly / Managing the Relationship / 0 comments
A recent post on this blog outlined three challenges Advisors face when acquiring clients. This week I’ll outline three more chief challenges you are probably facing in your daily work, along with some tips on how to overcome them.
#1. Providing clients with reassurance when the markets take a downturn
Keeping clients on track when markets take a dive is a situation many advisors find tricky. But It’s essential to know how to keep clients invested for the long term.
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