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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