In the Prospecting blog category you will find blog posts about prospecting. Don’s tips would include but may not limited to prospecting for new clients, leaning on your clients, researching for clients, how to ask for referrals, and more.

Objection Handling – Is It Possible to Forestall Objections?

Objection Handling - Is It Possible to Forestall Objections

This is a guest post by Don Connelly, originally published on FA Magazine website.

The late Zig Ziglar observed that every sale has five basic obstacles: no need, no money, no hurry, no desire, or no trust. Which of these obstacles is a Financial Advisor likely to experience and can they be forestalled?

We can eliminate three of those obstacles as unlikely.

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What Are The Most Important Networking Skills for Financial Advisors?

What Are The Most Important Networking Skills for Financial Advisors

Networking is an important prospecting tool, especially for newer Advisors who have a paucity of clients. Probably the two most common ways to network are via social media or face-to-face. Both methods are effective if done correctly.

The concept of networking is not new. In fact, it is two thousand years old. It would not have survived if it didn’t work. Getting ahead in the business world has a lot more to do with who you know than what you know.

While networking is pretty straight forward, there are specific skills involved. It involves a lot more than simply handing out business cards. Like other prospecting methods, networking entails being brilliant at the basics.

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Your Selling Skills Are a Reflection of Your Self-confidence

Your Selling Skills Are a Reflection of Your Self-confidence

Would you open an account with a Financial Advisor who was nervous and unsure of himself? Neither will your prospects.

Your livelihood is dependent upon your ability to sell yourself.

How well you sell yourself is in direct proportion to your self-confidence. The more success you have, the more you believe in your abilities and the higher you go. Top tier Advisors are supremely confident in their ability to influence and persuade. They have overcome the fear of failure.

It takes self-confidence to move another person to take action.

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Self-Confidence Will Make You Unstoppable

From Don Connelly Blog - audio post

I was speaking at a Financial Services conference in Australia and heard an insurance company CEO issue a provocative challenge to the audience members.

“If you stand on any street corner in Sydney and ask everyone who walks by to buy life insurance, every eighty-fifth person will. The questions is, do you have what it takes to hear the word ‘no’ eighty-four times in a row?”
The failure rate in the Financial Services industry is north of eighty percent.

This industry hires a small fraction of the people who apply. We provide good training, good products and good internal and external support. Yet most fail. And they are good people who got hired for good reasons.

Lack of self-confidence doesn’t mean lack of ability.

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Acquiring Negotiating Skills Will Help You Open More Accounts

Don Connelly audio blog post

When a prospective client is trying to decide between you and the Advisor across the street, you need to make the case that you are the obvious choice and the prospective client has to agree with your conclusion.

The time will surely arise in your career when a client wants to move his or her account to another Advisor.

The time will surely arise in your career when a client feels she deserves a lower fee. The time will surely arise in your career when a client balks at a suggested course of action. The time may very well arise when a client decides to manage his account himself. All these issues must be resolved tactfully.

Any dialogue intended to reach an understanding is a negotiation and negotiating involves specific skills.

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Your Goal Today Is to Get an Appointment

Your Goal Today Is to Get an Appointment

What’s so magical about having goals? It’s not so much that we don’t achieve them. It’s that we too often conveniently forget we even have them. With or without goals, we still go in and chip away day after day. Not having goals is not going to cause us to skip a day. I work hard with or without goals. What’s the big deal?

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There Are Only Three Objections You Will Ever Get

Overcoming Objections - There are only three objections you will ever get

Generally speaking, there are only three objections you will ever hear: I don’t have any money, I already have an Advisor and a third catch-all category we’ll call “I’m not interested.” Obviously, there are many more objections, such as “I can get it cheaper elsewhere.” But those specific objections fall into the catch-all category. Telling you that a discount house is cheaper than you is a way of someone saying he or she is not interested.

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How Many Referrals Do You Give to People Who Call on You?

Do you give referrals to people who call on you and how many

Let’s discuss three issues. The first issue is reflected in the title. But let’s amend the question to read, ‘How many referrals have you given or will you give unless a friend asks you for one?’ The second issue is this: When is the last time you hired someone to do anything for you unless you got that person by asking someone for a name?

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Don’t Ask for Referrals. Ask for Advice

Don Connelly audio podcast

I have a suggestion for those Advisors who have a difficult time asking their clients for referrals. Ask them for their advice and/or help instead.

Explain to your clients that you like doing business with people just like them. You feel you could possibly do a better job of marketing yourself and you would like some advice.

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A Message for All Financial Advisors Struggling to Make It

A Message for All Financial Advisors - Nothing Happens Without an Appointment

We can debate this subject all day long, but it always comes down to one reason. The reason Advisors fail is that they don’t see enough people. Blame it on self-sabotage, blame it on a lack of initiative or blame it any of a hundred other reasons, but Advisors make their living knee-to-knee. If we’re not sitting in front of folks, we are unemployed.

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