Put in The Effort if You Want to Become The Most Sought-after Financial Advisor in Town
To become a truly elite financial advisor you need to have an incredible work ethic. If you’re new to the business, you will need to spend most of your time actively prospecting and looking for clients. It could take years to build a solid client base – but when you have built up the right clientele, you will be rewarded with a pool of people who are happy and willing to provide you with referrals.
To achieve this enviable position, continually visualize yourself as a first-class advisor. Program that picture into your subconscious mind. Then work harder than any other advisor, perfect your soft skills, earn referrals and make this dream a reality.
Prospect every day
When you’re in the early stages of your career, your client base will inevitably be small. You will therefore need to have an organized approach to prospecting if you want to acquire new clients. Book in a definite time each day for prospecting, and stick to this religiously.
Overcome your fear of rejection since this is a major reason new advisors get derailed. Few professions expose participants to as much rejection as this – it can take dozens of ‘no’s’ before you hit a ‘yes’. So, you need to learn how to make it past ‘no’ over and over.
To help you do this remember that the reason you are prospecting is because you know you can add value to people’s lives. By contacting a prospect, you are giving them the opportunity to change their financial future for the better. With your help, they could look forward to a comfortable retirement or getting their kids through college, debt-free. Bear this in mind before you pick up the phone, or attend that next networking event to add confidence and positivity to your approach.
Power up your soft skills
As a financial advisor, it’s key to come across as likeable and trustworthy to potential clients. To succeed you need to hone your soft skills and make yourself memorable by exuding ‘charisma’.
If you don’t feel naturally blessed with abundant charm or confidence, there are techniques you can use to acquire these traits over time. For example:
- Have a firm handshake, maintain good eye contact and talk to people at their own level. Speak with conviction and vary the pitch, volume and tone of your voice to add color to what you are saying. Use humor if you’re comfortable with this.
- Become a great storyteller. Develop a ‘who I am’ story and let clients see your human side – that will resonate with them emotionally and inspire them to act.
- Also, importantly, learn to ‘actively’ listen with gentle nods, timely interjections, enthusiasm and agreements. If prospects think you find them interesting they will like you; If they like you they will be more inclined to do business with you.
Soft skills can take years to learn and to become truly proficient you need to practice them every single day.
Know when to ask for referrals
Referrals will become a prime source of valuable new clients but you need to know when the right time to ask is. There’s no point asking to be recommended until people are fully comfortable with you and trust you. Otherwise they will feel that referring you is too risky.
It could take years but so long as you have an excellent work ethic and exceed your clients’ expectations over time, they will be happy to give you introductions. When you ask for a referral keep in mind that you’re doing so because you want to help others, rather than yourself. You’re offering your help and advice to members of your clients’ circle – so that they too can look forward to a more secure financial future.
You will know you’ve reached the top when clients simply understand, without prompting, that there’s a ‘certain something’ that makes you stand out. They will see referring you as second nature, bestowing you with a credibility that will make you the most sought-after advisor in town.