/ by Don Connelly / Best Practices / 0 comments
Financial advisors must bring with them some essential traits. They need to be ambitious, courageous and thrive on hard work. That’s just the minimum required to survive the early years. From there, the learning curve is steep, with much to learn—technical and analytical skills, product knowledge, and critical soft skills—all while riding a wild rollercoaster of ups and downs. Those who choose to go it alone struggle mightily to get to the next level. But those who develop a successful relationship with the right mentor often flourish.
Mentors are vital to financial advisors’ growth and development, helping them achieve all their goals and prepare them to face even the harshest of markets with equanimity.
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The Halo of Ringlets
/ by Don Connelly / Marketing Yourself, Storytelling, analogies and power phrases / 0 comments
I hope by now you’ve done a business plan. A business plan is how you’re going to hit your goals. You’re driving from Bangor, Maine to San Diego, you’re going to pass mile markers along the way. Those are your goals.
Inside your business plan has to be your marketing plan. It’s not enough to go in the morning and hunt, kill and eat.
Listen to this audio podcast or read the transcript below to hear the ‘halo of ringlets’ analogy and an idea on narrowing down and attracting your target market or markets.
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Why It’s Critical to Have a Well-Conceived, Repeatable Advisor Onboarding Process
/ by Diana Marinova / Best Practices / 0 comments
It is well-established in the financial advisory industry that the client onboarding process is crucial to building profitable, long-term relationships. When done poorly, you’ll likely see clients heading for the exits leaving you with thinning profit margins and a tarnished reputation. For the same reasons, onboarding advisors is equally critical for financial advisors looking to […]
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Conquering Your Clients’ Financial Fears
/ by Don Connelly / Managing the Relationship / 0 comments
One of the most powerful emotions we all experience is fear. When it comes to our finances, fear can drive us to make decisions we later regret. More often, fear leads to decision paralysis when we retreat to the comfort of indecision or simply bury our heads in the sand.
To many people, their financial future is a threat to their well-being – the fear of not being able to retire, the possibility of losing one’s job, or being forced into early retirement. These are all financial threats that breed the worst kind of fear. Many people cope with them by doing everything they can to avoid them. That can be a lot easier than facing their fears, especially if they lack confidence in solving the problem.
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Finding the Right Mentor
/ by Don Connelly / Best Practices / 0 comments
Financial advisors must bring with them some essential traits. They need to be ambitious, courageous and thrive on hard work. That’s just the minimum required to survive the early years. From there, the learning curve is steep, with much to learn—technical and analytical skills, product knowledge, and critical soft skills—all while riding a wild rollercoaster of ups and downs. Those who choose to go it alone struggle mightily to get to the next level. But those who develop a successful relationship with the right mentor often flourish.
Mentors are vital to financial advisors’ growth and development, helping them achieve all their goals and prepare them to face even the harshest of markets with equanimity.
Read more
You Have to Take Risks to Reach Your Goals
/ by Don Connelly / Investing Wisdom, Storytelling, analogies and power phrases / 0 comments
Here’s a Mr. and Mrs. Client story to help you explain to prospects and clients why taking risks is necessary.
Mr. and Mrs. Client, I know you know what to do. Let me show you how to do it.
You can watch the video or read the transcript, if you prefer.
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Two Things Never Change for Financial Advisors
/ by Don Connelly / Best Practices / 0 comments
As a Financial Advisor, you share a common concern with the wholesalers who call on you. You don’t control your distribution and they don’t control theirs. You can’t force your clients to act any more than a wholesaler can force you to act. As well, neither you nor the wholesaler has control over the landscape. Most of what affects how and what you do is in some else’s hand, be it the stock market, the economy or interest rates. And most of what affects you is in a constant state of change.
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