Using Analogies in These 3 Situations Can Help Turn Prospects into Clients

Using Analogies in These 3 Situations Can Help Turn Prospects into Clients

It’s your job to get prospects off the fence. You need to persuade them that hiring you to manage their investments is the right thing to do. Before they make that decision, however, they need to understand what it is they are buying, and why they need to buy it. Because “people don’t buy what they don’t understand.”

This is where analogies can help push the balance in your favor. They make the unfamiliar familiar.

An analogy is “a comparison between one thing and another, typically for the purposes of explanation or clarification”.

Analogies can help you put forward an argument so that prospects see things in a new light – and conclude, of their own accord – that it makes sense to do business with you.

Here are three situations that warrant the use of analogies.

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Make Yourself Irreplaceable by Making Yourself Different

Make Yourself Irreplaceable by Making Yourself Different

If you do what every other advisor is doing, you’ll be just like all other advisors. To become successful, you need to offer something different – something that makes you worthy of being talked about.

Don’t be intimidated by self-perceived ‘smarter’, ‘more experienced’ or ‘more confident’ advisors. Don’t try to ‘better’ them. Think instead about what you can do differently.

Make it your aim to do what other advisors don’t do, and you’ll attract and retain clients for the long term. Here are a few things you can do to make yourself different.

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Tell Prospects What You Do instead of What You Are

Tell Prospects What You Do instead of What You Are

In social settings, people will often ask what you do for a living. If, like the majority of advisors, you reply ‘I’m a financial advisor’, you’re missing an opportunity to pique others’ interest and possibly win new business.

Instead of simply sharing your job title, use this opportunity to establish your value, and give people a reason as to why they should want to work with you.

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Becoming a Financial Advisor Is Not All About Getting Licensed

Becoming a Financial Advisor Is Not All About Getting Licensed

Naturally, you need to be sufficiently educated and qualified if you are to do the job of a financial advisor. But that’s not nearly enough. Financial advisors require a unique skill set that consists of not only technical knowledge and business skills but also excellent interpersonal ‘soft’ skills.

Many advisors enter the industry mistakenly believing the former skills are more important than the latter. That’s why so many advisors leave the trade in their first year – because they weren’t able to cut through the noise and attract enough clients.

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How to Help Clients Make Good Decisions

How to Help Clients Make Good Decisions

Your job is as much about managing relationships as it is about managing money. You need to establish close ties with your clients so you can become a positive influence in their lives over the long term. Unless you can steer your clients into making good decisions you not only risk losing them as clients – but you are doing them a disfavor – because you are allowing them to make potentially disastrous financial decisions.

Here are a few things you can do to influence your clients’ decisions positively.

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How to Prepare Your Clients for The Next Market Correction

How to Prepare Your Clients for The Next Market Correction

The Natixis Investment Managers 2018 Global Financial Professionals Survey revealed that 57% of advisors believe investors are unprepared for a downturn. This illustrates how difficult it is to convey the nature of turbulence to clients – and that volatility is an unavoidable part of the investment process.

Take the lead – prepare and educate your clients on the nature of market volatility. Then it will be far easier to counter their anxiety when the next market correction comes.

Here are 5 things you can do right away.

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Being Accountable May Be The Key to Your Success

Being Accountable May Be The Key to Your Success

Being accountable will benefit not only your business, but every aspect of your life. Being accountable to yourself will help you focus your attention on your performance, encouraging you to set and achieve personal goals. Being accountable to your clients will help you keep them on track and invested.

Here’s how being accountable will help you succeed as a Financial Advisor.

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4 Misconceptions about Market Volatility Your Clients Need to Be Aware of

4 Misconceptions about Market Volatility Your Clients Need to Be Aware of

As a financial advisor it’s your responsibility to get your clients to stick to their financial plan for the long term. This means you’ll need to change any pre-conceived notions they may have about market volatility. In particular, you need to get across that volatility does not equate to risk or loss.

Here are some common misconceptions about market volatility your clients may have and how to address them.

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