May 12, 2014 / by Don Connelly / Prospecting / 0 comments
I was speaking at a Financial Services conference in Australia and heard an insurance company CEO issue a provocative challenge to the audience members.
“If you stand on any street corner in Sydney and ask everyone who walks by to buy life insurance, every eighty-fifth person will. The questions is, do you have what it takes to hear the word ‘no’ eighty-four times in a row?”
The failure rate in the Financial Services industry is north of eighty percent.
This industry hires a small fraction of the people who apply. We provide good training, good products and good internal and external support. Yet most fail. And they are good people who got hired for good reasons.
Lack of self-confidence doesn’t mean lack of ability.
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Can Trust Be Established Early?
December 23, 2019 / by Don Connelly / Managing the Relationship / 0 comments
I got a really interesting question from a subscriber named Jeffrey, who said he is a new advisor and he’s having a problem gaining trust with people during the initial visit. He asked if establishing trust up front is possible and if it is, how he can do that. Furthermore, he asked if it is possible to open an account without the establishment of trust.
Listen to this audio episode or read the transcript below to learn Don’s 4 suggestions on establishing trust early on in the relationship.
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5 Reasons Why You Need to Connect with Clients on an Emotional Level
October 21, 2019 / by Don Connelly / Managing the Relationship / 0 comments
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.
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How Interpersonal Relationships Lead to You Being Trusted
September 15, 2014 / by Don Connelly / Managing the Relationship / 0 comments
By now you know my belief about gathering assets. If someone likes you, trusts you and thinks you are smart, you get the assets. If another Advisor ranks higher in those categories, he or she gets the assets.
Follow the Golden Rule and you will be likable. Simplify the business so that your listener can understand every word you say and you will be perceived as smart.
Do what you say you are going to do and you will earn the other person’s trust.
Like most things in life, the solution to each of these perceptions is simple. It’s not easy, but it is simple.
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Developing Your People Skills Begins with Understanding Yourself
June 23, 2014 / by Don Connelly / Managing the Relationship / 0 comments
People who are able to discern the feelings of others have a distinct advantage in life. They generally out earn and outperform those who cannot. Having this ability is a reflection of one’s emotional intelligence. People with high emotional intelligence understand themselves and they understand the impact they have on others. They know when and how to make the other person feel good. They are able to influence decisions. They have great people skills.
As an Advisor, it is to your advantage to have or develop great people skills.
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Self-Confidence Will Make You Unstoppable
May 12, 2014 / by Don Connelly / Prospecting / 0 comments
I was speaking at a Financial Services conference in Australia and heard an insurance company CEO issue a provocative challenge to the audience members.
“If you stand on any street corner in Sydney and ask everyone who walks by to buy life insurance, every eighty-fifth person will. The questions is, do you have what it takes to hear the word ‘no’ eighty-four times in a row?”
The failure rate in the Financial Services industry is north of eighty percent.
This industry hires a small fraction of the people who apply. We provide good training, good products and good internal and external support. Yet most fail. And they are good people who got hired for good reasons.
Lack of self-confidence doesn’t mean lack of ability.
Read more
Tell Simple Stories
March 20, 2014 / by Don Connelly / Storytelling, analogies and power phrases / 0 comments
Clients, as we’ve discussed in the past, love word pictures. What we find very, very simple, people find very, very difficult to comprehend. This is much the same as you and I having difficult time understanding two lawyers when they talk. It’s because of lingo.
Because our lingo in the financial services industry is just as confusing to people you need to use stories when communicating to current and prospective clients. So tell them stories.
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