Nail the First Meeting with a Prospective Client: Address What Your Prospects Want to Know

Nail the First Meeting with a Prospective Client - Address What Your Prospects Want to Know

It takes a lot of time, patience, and effort to move a prospect through the funnel to the point when they finally agree to meet with you. For every prospect that makes it that far probably six to nine fall by the wayside. That makes that first meeting ever so crucial. There’s a lot that must be accomplished. It has to go perfectly. There’s a minimal margin for error.

Every advisor has their own formula for constructing a perfect prospect meeting. It invariably includes a polished presentation and ample opportunities to present oneself as a likable, competent professional.

However, ensuring that first meeting is a success comes down to how you structure it to address all the prospect’s questions and concerns. They’re meeting with you to find out who you are and why they should work with you. They need the answers to very specific questions on their mind even though they may not ask them. So, why not structure the meeting around what your prospects really want to know?

Here are a few such questions they are asking themselves.

Read more

How Advisors Can Inoculate Themselves from Fee Compression

How Advisors Can Inoculate Themselves from Fee Compression

In our last post, we highlighted four critical issues financial advisors face in the aftermath of the COVID pandemic, impacting the way they approach their businesses and the way clients are responding. In the next month or so, we will take a deeper dive into these issues, the challenges they present, and how advisors can meet them head-on for a greater chance at success.

At the top of the list—an issue familiar to all and well-covered here in past blog posts—is fee compression.

Read more

Overcome the Fee Discussion by Focusing on the Things that Matter to Your Clients

Overcome the Fee Discussion by Focusing on the Things that Matter to Your Clients

Among the many trends affecting the way financial advisors must operate these days, fee compression has been the most impactful. The discussion of fees charged by advisors has moved to the forefront due to the low costs and transparency of digital advice platforms and the highly competitive arena in which they find themselves. As a result, clients are more willing to confront their advisors on the subject of fees and the value they receive in exchange for them, catching many advisors off guard.

Read more

3 Issues Financial Advisors Should Address to Overcome the Trust Deficit in Clients

3 Issues Financial Advisors Should Address to Overcome the Trust Deficit in Clients

Financial Advisors face a huge trust deficit. That’s significant because who holds a more important position of trust than an advisor who can impact when people retire, how they live in retirement, and what’s their financial security late in life when they need it the most? For advisors whose livelihood depends on attracting new clients and retaining them, that’s a major obstacle to overcome every day.

Read more

Top 10 Most-read Posts on Our Blog in 2019

Another year is about to end tomorrow – we hope it was as great for you as it was for us at Don Connelly & Associates. We’d like to close our blogging year with a recap of the most-read posts on the blog by tens of thousands of Financial Advisors and Wholesalers in 2019.

They are mostly on using stories and analogies, getting referrals and becoming brilliant at the basics. But there were also a couple of posts on preparing yourself for market corrections, overcoming your fears and building strong relationships with prospects and clients. Enjoy and thanks for reading!

Read more

Combatting Low Fees

Combatting Low Fees

If you ever need to combat lower fees, begin by understanding what your competition is actually doing. Then form your strategy accordingly.

Listen to this audio episode or read the transcript below to learn how to de-commoditize yourself and why you need to win the value-argument instead of the fee-argument.

Read more

5 Reasons Why You Need to Connect with Clients on an Emotional Level

5 Reasons Why You Need to Connect with Clients on an Emotional Level

As an advisor you’re no doubt good with numbers; you’re an objective thinker. But to succeed in this business you also need to be able to create meaningful relationships with your clients. You need to have not only a high IQ but a high level of EQ (Emotional Intelligence).

According to a study by Harvard Business Review emotionally connected clients are more than twice as valuable to your business as ‘highly satisfied clients’.

Here are 5 reasons why rather than focusing on their financial plans you should get to know your clients on a personal level.

Read more

The Right Story at the Right Time Can and Will Tip the Decision in Your Direction

The Right Story at the Right Time Can and Will Tip the Decision in Your Direction

When you meet with prospective clients, they will very possibly have concerns. They may be worried about investing per se, undecided about whether now’s the right time to invest, or unsure if you are worth your fees.

Don’t see their concerns as obstacles but as an opportunity to build trust. If you suspect they feel anxious, step in tell them an “I know what you’re thinking” story to reassure them they’re doing the right thing. This is a story designed to take away some of your prospect’s concerns.

Here are some situations where a good story can help persuade prospects to hire you as their advisor.

Read more

1 2
top