5 Things Prospects Need to Know About You from the First Meeting

5 Things Prospects Need to Know About You from the First Meeting

Every initial meeting with a prospect is crucial. It took a lot to get them to finally agree to meet with you, and, in most cases, you only have one shot at making the right impression. If a prospect leaves the meeting still wanting critical information, you will not likely see them again. So, you carefully craft your initial meeting to ensure you check all the boxes, including:

– Your background and experience
– Understand your prospect’s needs and concerns
– Your process
– Your firm’s strengths and why you’re different
– Customer service expectations
– How you get paid
– Next Steps

As far as key information your prospect needs, that covers all the bases. It should also give you plenty of opportunities to demonstrate your competence and capacity to address your prospect’s needs and concerns.

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What Advisors Need to Do to Help Set Client Goals

What Advisors Need to Do to Help Set Client Goals

According to a Morningstar study, what clients want most from their financial advisors is to help them reach their financial goals. That should be good news for financial advisors because, generally, people with clearly defined goals and ambitions for the future have the conviction to adhere to a long-term plan to achieve them.

However, it could also spell disaster for advisors who fall short in helping their clients articulate their most important goals and fail to gain their commitment to achieving them. To inspire action, client goals must be well-defined and quantifiable with genuine intrinsic value. Anything less is a hopeful aspiration, and hope is not a strategy.

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How to Make Your Presentations More Convincing and Inspiring

Successful Presentations - How to Make Your Presentations More Convincing and Inspiring

Any chance you have to make a presentation is a golden opportunity to engage with people and demonstrate your worth. Financial advisors who can deliver exceptional presentations can differentiate themselves while connecting with potential clients in a memorable way. However, it’s challenging to recover from presentations that fall flat, leaving audience members wishing they could have their precious time back.

While some advisors are natural orators with the ability to sail effortlessly through a presentation, anyone can and should develop the skill of delivering compelling and inspiring words that can move an audience. It takes some skill, lots and lots of practice, and a clear understanding of how to frame a presentation. But the results can be well worth the effort.

Here are five critical elements of a successful presentation.

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The Shoplifting Story

Don Connelly audio blog post

You’ve probably heard me in the past talk about a book called ‘Whoever Tells the Best Story Wins’ by Annette Simmons. It was really designed for bosses to sell themselves to employees but anyone who is selling themselves should read this book. The author makes the point that we really need six stories. The most important one being the ‘Who I am’ story. because people don’t care what we know, they care about who we are. Can they trust us? The second most important story she mentions is the ‘Why am I here’ story. Why am I doing this?

Listen to this audio post or read the transcript below to learn why the ‘Why I am here’ story is so important when communicating with clients and to hear a very emotional story that an Advisor from Texas tells his prospective clients.

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3 Soft Skills Advisors Need to Refine for an Immediate Connection with Prospects

3 Soft Skills Advisors Need to Refine for an Immediate Connection with Prospects

Not to diminish the hard work, effort, and time that goes into becoming a financial advisor—few professions are as demanding—but the essential skill advisors must acquire is the ability to sell. Perhaps a more acceptable term would be “the art of persuasion.” Whichever way you want to frame it, if you have difficulty persuading or convincing people to take action, you stand little chance of success.

Of course, that’s true of just about any profession that requires changing or influencing people’s behavior. It just happens to be more challenging when selling financial advice and expecting to get paid for it. Advisors must understand that buying an intangible service requiring people to trust that the advisor can deliver that intangible value is scary for most people. It’s far less threatening to stay with the status quo and do nothing.

The trouble is, if you can’t convince people to follow you or your advice, you aren’t accomplishing anything. To overcome the inherent trust deficit and open prospects’ minds, financial advisors must constantly refine three critical soft skills, or they will have fewer chances to demonstrate their highly trained competencies.

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Prospect Objections Are Often a Cry for Help. Your Job Is to Help Them.

Prospect Objections Are Often a Cry for Help. Your Job Is to Help Them.

As a financial advisor, you are valued for your expert knowledge, but you are only as effective as your ability to get your prospects and clients to act on your recommendations. If you can’t, their situations won’t improve, and neither will yours. Many financial advisors in that situation might chalk it up to them being “bad” prospects and move on, but aren’t they abdicating their role as an advisor?

Certainly, advisors shouldn’t use strongarm tactics to turn their prospects around, but shouldn’t they at least understand the reason behind the objection? Could they learn some valuable insights that would help resolve the issue, if not for the prospect in front of them, but for similar situations they encounter in the future?

In the financial advisory business, objections come with the territory. They’re often just knee-jerk reactions from clients hesitant to make a change. Prospects often don’t understand the real reason behind their objection—they’re just not comfortable moving forward. As an advisor, your job is to help them acknowledge the real reason so they can place it in the context of what you have offered them.

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To Get to “Yes” Financial Advisors Must First Get to “Why” and Stir Up Emotions

To Get to Yes Financial Advisors Must First Get to Why and Stir Up Emotions

What if, in every initial client meeting, your prospects would just come right out and tell you what’s important to them and what it would mean to them if you could help them? Indeed, it would make your job much easier, but then anyone could do it. The challenge is most people don’t think that way, and it’s your job as a financial advisor to help them uncover their most important issues.

But even that doesn’t go far enough because all you’ve done is uncover the “what.” People don’t act on the “what.” They act on the “why.” When fully revealed, the “why” becomes the key motivating factor. It contains the emotions that drive people to act. Your value as a financial advisor is to get people to take the actions you know will help them. If you can’t trigger the emotions behind what’s important to them, they are not likely to take action.

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The Importance of Why when Soliciting Referrals

Don Connelly audio featured image

When you ask clients for referrals, and hopefully clients are going to solicit referrals for you, you really have to get them to focus on why they do business with you. I think it’s important to tell people what you do and how you do it, but why they’re doing business with you is the most important part of any referral.

Listen to this audio episode or read the transcript to learn the importance of why when it comes to growing your business as a Financial Advisor.

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