October 16, 2023 / by Don Connelly / Best Practices / 0 comments
There was a time in the not-so-distant past when the only skill you needed to succeed in financial services was how to sell. The business of selling investments was almost entirely transactional, and all a financial advisor needed to do was shake the bushes for prospects and close them on a product sale. It was not easy by any means, and only the most tenacious advisors survived.
Certainly, that required some skill, but most were learned through memorizing scripts and drilling on closing techniques. The rest was all about persistence in dialing the phone.
Fast forward to today, and the game has changed drastically. With compensation coming largely from recurring revenue from assets under management or planning fees, advisors have had to develop an entirely new skill set. Tenaciousness, persistence, dogged determination, and knowing how to sell are still essential, but they take a back seat to more critical skills needed to succeed in the business today. Here are five such acquired skills you need to master.
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Top 5 Critical Acquired Skills Financial Advisors Need for Success
October 16, 2023 / by Don Connelly / Best Practices / 0 comments
There was a time in the not-so-distant past when the only skill you needed to succeed in financial services was how to sell. The business of selling investments was almost entirely transactional, and all a financial advisor needed to do was shake the bushes for prospects and close them on a product sale. It was not easy by any means, and only the most tenacious advisors survived.
Certainly, that required some skill, but most were learned through memorizing scripts and drilling on closing techniques. The rest was all about persistence in dialing the phone.
Fast forward to today, and the game has changed drastically. With compensation coming largely from recurring revenue from assets under management or planning fees, advisors have had to develop an entirely new skill set. Tenaciousness, persistence, dogged determination, and knowing how to sell are still essential, but they take a back seat to more critical skills needed to succeed in the business today. Here are five such acquired skills you need to master.
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Effective Communication Is an Acquired Skill
March 17, 2014 / by Don Connelly / Marketing Yourself / 0 comments
Effective communication occurs when the listener understands everything you just said. You made the complex simple. That’s not an easy thing to do.
It takes a long time and a lot of practice to become simple.
The effort is worth it. There is nothing more important to a Financial Advisor than being understood. After all, if everyone understood everything you said, you would be one of the highest paid and most influential people in the world.
Fortunately, effective communication is an acquired skill, not an innate skill.
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