blueprint for success Archives - Don Connelly & Associates

Assumptive Selling in Financial Advising: How to Open Accounts with Confidence and Consistency

/ by Don Connelly / Managing the Relationship / 0 comments

Although they may resist the terminology, financial advisors understand that to build a successful practice, they must be able to effectively sell themselves and their services. More to the point, they must be able to persuade prospects to become clients and then convince clients to act on their recommendations.

Advisors who work at developing their selling skills have likely heard of “assumptive selling”—a technique often misunderstood as aggressive sales tactics. Done right, it’s a powerful, ethical way to guide prospects toward decisions in their best interest. Many advisors join coaching programs to master this skill, which aims to convert prospects into clients with greater consistency —a crucial key to success as an advisor.

Assumptive selling isn’t about closing a sale; it’s about leading with confidence, building trust, and helping clients take the next step. In financial advising, where relationships drive success, this approach aligns perfectly with a client-first philosophy, fostering long-term partnerships built on clarity and trust.

Your Growth Engine: Building a Consistent Marketing and Follow-Up System for Financial Advisors That Sells

/ by Don Connelly / Marketing Yourself / 0 comments

Your financial advisory business is like an engine: it needs regular fuel and maintenance to run smoothly. Without a consistent system, you’re stuck in neutral, reacting to opportunities as they come, or worse, stalling out. Many advisors know they should market consistently and follow up diligently, but the chaos of daily life—client meetings, market shifts, compliance—makes it hard to stay organized.

The result? Sporadic efforts, missed opportunities, and a business that feels like a rollercoaster. This post offers a clear and actionable blueprint for establishing a repeatable follow-up system for Financial Advisors that attracts prospects, nurtures relationships, and enhances conversions. By implementing simple routines and tools, you can create a growth engine that runs reliably, even when life gets busy. Let’s explore how to make consistency your superpower.

How Advisors Can Navigate Industry Barriers and Build Trust Faster by Mastering the Basics

/ by Don Connelly / Best Practices / 0 comments

Financial advisors are increasingly operating in an industry riddled with structural barriers—systemic challenges beyond their direct control. These include widespread public distrust of fee transparency complexity and jargon, commoditized products, confusing regulations, technology that depersonalizes relationships, and a crowded market of advisors vying for attention.

While these hurdles are daunting, advisors can overcome them by returning to the fundamentals: clear communication, genuine listening, and authentic relationship-building. By mastering these basics, advisors can differentiate themselves, rebuild trust, and open more accounts in an industry that often feels stacked against them.

The Disadvantages of Being a Financial Advisor: Challenges You Should Know Before Entering the Industry

/ by Don Connelly / Best Practices / 0 comments

The allure of becoming a financial advisor often centers on the promise of high earnings, independence, and the chance to help people secure their financial futures. Yet, the disadvantages of this career are often discussed in more muted tones. While the career can be rewarding, its challenges can catch even the most ambitious professionals off guard.

Whether you’re an aspiring advisor, a current professional, or someone contemplating a career shift, understanding these hurdles is crucial. The path isn’t easy, and it’s not for everyone, but knowing what lies ahead can help you decide if it’s worth pursuing.

How Long Does It Take to Become a Financial Advisor?

/ by Don Connelly / Best Practices / 0 comments

Successful financial advisors will tell you they have one of the most remarkable careers available, offering a unique blend of purpose, flexibility, and earning potential. They thrive on making a significant, tangible impact on people’s lives while enjoying the opportunity to build their own practice. Very few careers offer that kind of fulfillment.

Understanding the timeline is key to setting realistic expectations for people aspiring to become financial advisors. Whether you’re a career changer or a recent college graduate, the path to becoming a financial advisor varies depending on your background, education, and, most importantly, your commitment to the process.

Generally, the journey of becoming a Financial Advisor involves earning a degree, obtaining licenses, gaining experience, and committing to continuous learning. While it typically takes 3 to 5 years to become fully established, the process is both rewarding and dynamic, offering opportunities for growth at every stage. This article outlines the steps to help you navigate the path with confidence.

Embracing Adaptability: A Key to Staying Relevant in the Financial Advisory Industry

/ by Don Connelly / Best Practices / 0 comments

“If you’re not getting better, you’re getting worse,” is a widely quoted saying in athletic and business circles. Translation: if you’re not proactively doing things to improve yourself, your competitors are, which means you’re getting worse. Paraphrased for this article, it says, “If you’re not adapting, you’re falling behind.”

The financial advisory industry is evolving at a blurring pace, with rapid technological advancements, changing regulatory frameworks, and rising client expectations. From the emergence of artificial intelligence (AI) to the proliferation of digital tools, these changes are reshaping how financial advisors interact with clients and manage their businesses. Simultaneously, clients are demanding more personalized, efficient, and transparent services, leaving no room for complacency.

Financial advisors who resist adapting face significant consequences. Stagnation or losing relevance in an increasingly competitive market can spell doom for a once-thriving practice. In this environment, the ability to adapt is not just a competitive advantage but a necessity for survival and success.

Essential Tips for Financial Advisors to Avoid Burnout

/ by Don Connelly / Best Practices / 0 comments

Financial Advisor Burnout - Essential Tips to Avoid It

It can happen to the best of us if we don’t see it coming. Few professions result in a higher burnout rate than the financial advisory business. The convergence of high-stress client interactions, economic uncertainty, performance pressures, regulatory demands, and the sheer emotional toll of the work puts financial advisors at a higher risk of chronic exhaustion and detachment that can derail their careers and personal well-being.

For advisors, managing stress is essential for maintaining a healthy balance, which is crucial for sustainable success. Here are seven actionable strategies to help you prevent burnout while staying passionate about your work:

Understanding Your Strengths and Weaknesses as a Financial Advisor

/ by Don Connelly / Best Practices / 0 comments

For financial advisors with ambitions of taking their practice to the next level, self-awareness is fundamental to their success. Knowing your unique strengths enables you to maximize the value you deliver to clients while understanding your weaknesses helps you address critical areas that may impact your effectiveness.

Continuous self-assessment to develop a clear picture of your strengths and weaknesses is essential in a fast-evolving industry where personalized service and superior client experience have become minimum expectations.

Using Client Feedback Loops to Build Trust and Loyalty

/ by Don Connelly / Managing the Relationship / 0 comments

Wouldn’t it be great if you could read your clients’ minds to know how they feel about you and your service? If you knew what they were thinking, you could ensure you’re doing all the right things to exceed their lofty expectations, leading to stronger and more trusting client relationships. Fortunately, you don’t need to read minds. All you need to do is ask them.

Successful, customer-centric companies constantly ask their customers what’s on their minds through a mechanism known as a customer or client feedback loop, a system where they regularly gather, analyze, and act on feedback to improve their products and services. Successful, client-centric financial advisors do the same thing, enabling ongoing communication with their clients to help refine and enhance their experience.

Advisors Must Master Communicating Complex Financial Concepts in Simple Terms

/ by Don Connelly / Best Practices / 0 comments

Whether planning for retirement, investing in volatile markets, or managing tax implications, clients are often presented with intricate information that can leave them overwhelmed, confused, and anxious, undermining their ability to make informed decisions.

Of all the key roles and responsibilities of a financial advisor, one of the most essential is communicating complex financial concepts into simple terms the average person can understand. This is critical to helping clients understand their options, feel confident in their decisions, and build lasting trust.

When clients clearly understand their financial plans and the reasoning behind recommendations, they’re more likely to remain engaged, ask insightful questions, and feel empowered to take ownership of the plan.

1 2 3 4