February 6, 2023 / by Don Connelly / Prospecting / 0 comments
For financial advisors, there’s nothing like the thrill of signing a new client. But it doesn’t take very long in the business to realize that, without prospecting, those thrills can be few and far between. While signing new clients is the opportunity all advisors relish, they must first create those opportunities, which can only be done through continuous prospecting.
Most advisors consider prospecting to be the most challenging aspect of their work. The challenge for many is doing it consistently and effectively enough to produce sufficient opportunities. For some advisors, prospecting is an afterthought, only becoming necessary when their pipeline dries up. But with the typical lead-to-prospect conversion process lasting as many as six months, that could mean weeks or months before signing a new client.
Successful advisors know that the key to sustainable growth is a constantly replenished pipeline through persistent prospecting. The only way that happens is by building solid prospecting habits.
Here are the essential success habits advisors must develop to become effective and consistent prospectors.
Communication in a Post-Pandemic World: How to Connect with Prospective and Current Clients
June 22, 2020 / by Don Connelly / Managing the Relationship / 0 comments
All of us are affected by the coronavirus and the shutdowns. The virus is slowly running its course but social distancing will be with us for a very long time to come.
That means most of us are going to have to change the way we market and sell our services. “Meet and greet” networking events will be out of the picture for a while. When they do come back, they’ll be different. They may look more like ‘show and tells’ with slide shows than mingling sessions.
Even walking into businesses and asking for the owner is going to be fraught. The small ‘handshake’ ritual that has been with us since antiquity will be changed as we figure out our new forms of etiquette and social conventions.
So, what’s the best path forward?
A Reminder: The Trend Is Your Friend
August 26, 2019 / by Don Connelly / Investing Wisdom / 0 comments
I get asked a lot if I coach Advisors and the answer is “No, I don’t coach. I remind.” Literally. I think teaching is showing someone how to do a job. Coaching them is showing them how to get better. I think you get better by going backwards, by going back to the basics, so let me give you the most basic investing thought I can give you.
Watch the video or read the transcript below to learn the most basic investing thought and why the trend is your friend.
Poor Communication Is The #1 Reason Advisors Get Fired
July 2, 2018 / by Don Connelly / Managing the Relationship / 0 comments
The chief reason clients fire their advisors is not, as you may have thought, poor performance – it’s poor communication. A survey by Financial Advisor Magazine revealed that 72% of clients said they fired their advisors due to their advisor’s failure to communicate on a timely basis.
The best advisors put their communication strategy at the very heart of their business – and so should you. Not only should you build in time to communicate with clients – but take time to develop your soft skills so that you communicate effectively.
Looking Back on 2014
December 29, 2014 / by Don Connelly / What's New / 0 comments
Your support means the world to everyone here at Don Connelly & Associates. Without you, there is no learning center. Your loyalty is not taken for granted.
2014 was a learning year for me, as I’m sure it was for you. I remember Bob Dunwoody once described himself as a student-teacher. He said he learns as much from Advisors as he teaches them. I know what he means.
It was also a year of observation.