/ by Don Connelly / Managing the Relationship / 0 comments
One of the biggest challenges financial advisors face during volatile markets is the tendency of clients to focus on short-term market fluctuations, often making impulsive decisions despite repeated discussions about their long-term goals.
The issue isn’t a lack of clear communication or financial education on the part of advisors—it’s a lack of client involvement in the planning process. When clients are passive recipients of a plan, they’re less committed to it and, therefore, more susceptible to short-term myopia.
Collaborative financial planning changes this by making clients co-creators of their strategy. By actively participating in the process, clients develop a deeper sense of ownership, fostering resilience and a focus on their long-term vision.
Read more
Why Collaborative Financial Planning Keeps Clients Focused on Long-Term Goals
/ by Don Connelly / Managing the Relationship / 0 comments
One of the biggest challenges financial advisors face during volatile markets is the tendency of clients to focus on short-term market fluctuations, often making impulsive decisions despite repeated discussions about their long-term goals.
The issue isn’t a lack of clear communication or financial education on the part of advisors—it’s a lack of client involvement in the planning process. When clients are passive recipients of a plan, they’re less committed to it and, therefore, more susceptible to short-term myopia.
Collaborative financial planning changes this by making clients co-creators of their strategy. By actively participating in the process, clients develop a deeper sense of ownership, fostering resilience and a focus on their long-term vision.
Read more
Lead by Example – Prepare Yourself so Your Clients Are Ready Too
/ by Don Connelly / Managing the Relationship / 0 comments
As an advisor, you need to prepare your clients for events that have not yet happened. You need to know in advance how you are going to manage your relationship with them when the markets take a downturn.
To step up to this challenge you need to practice your soft skills so that you inspire your clients with confidence in what you say. If they believe in you and think you are the ‘real deal’ they will go where you lead them.
Read more
5 Tactics to Get Prospects off The Fence
/ by Don Connelly / Prospecting / 0 comments
Breaking a prospect’s apathy is difficult.
Telling someone to invest or think long term is like telling someone to be patient. And telling someone to be patient simply doesn’t work. Instead you need to ‘teach’ prospects what long term investing really means. Use stories and analogies to stir emotions, curb their impatience and give them reasons to invest. Here are five ways you can do that and help prospects get off the fence.
Read more
Creating Urgency with Prospects
/ by Don Connelly / Prospecting / 1 comment
I can recall few times in my career when business has been as slow as it has been recently. Perhaps the slowdown is due to the fast approaching year-end. Certainly, the pending Presidential election has a lot to do with it, as does the recent DOL running. Clients and Advisors alike have adopted a wait-and-see attitude. But there also are more traditional reasons at work.
People don’t enjoy the prospect of saving for a rainy day. There’s always a reason to delay investing, and never a ‘right’ time to make the move.
Read more
Develop Leadership Skills So Clients Will Follow You
/ by Don Connelly / Best Practices / 0 comments
There’s far more to being a good financial advisor than simply setting up a financial plan and then walking away. The best advisors not only identify which path clients should take – but accompany them for the entire journey. Your clients need to know that you’re committed to their long term success. They will look to you for reassurance along the way. So you need to step up to the mark and develop strong leadership skills.
Read more
Every Time You Sit with a Client, Your Leadership Skills Are on Display
/ by Don Connelly / Managing the Relationship / 0 comments
I want to remind you that next to the family doctor, you are the most important person a family will meet. You are not a vendor. You are the person who has been chosen to lead this family to their safe retirement heaven. The burden is on them to make the sacrifices necessary to guarantee peace of mind in their later years. The burden of you is to make sure they do it.
Read more