February 6, 2023 / by Don Connelly / Prospecting / 0 comments
For financial advisors, there’s nothing like the thrill of signing a new client. But it doesn’t take very long in the business to realize that, without prospecting, those thrills can be few and far between. While signing new clients is the opportunity all advisors relish, they must first create those opportunities, which can only be done through continuous prospecting.
Most advisors consider prospecting to be the most challenging aspect of their work. The challenge for many is doing it consistently and effectively enough to produce sufficient opportunities. For some advisors, prospecting is an afterthought, only becoming necessary when their pipeline dries up. But with the typical lead-to-prospect conversion process lasting as many as six months, that could mean weeks or months before signing a new client.
Successful advisors know that the key to sustainable growth is a constantly replenished pipeline through persistent prospecting. The only way that happens is by building solid prospecting habits.
Here are the essential success habits advisors must develop to become effective and consistent prospectors.
5 Cold Calling Mistakes Financial Advisors Must Avoid to Improve Results
October 11, 2021 / by Don Connelly / Prospecting / 0 comments
For many financial advisors, cold calling does not play a dominant part in their marketing plans. Many feel it can be replaced by other prospecting methods, such as email campaigns, social media networking, or trade shows. But would it surprise you to know that cold calling still generates better results than those other methods? When you ask advisors why they avoid cold calling, you often get responses like, “It’s not working for me,” or “It’s a waste of time,” or “no one wants to talk to me on the phone.”
No one ever said cold calling is easy. But if your efforts aren’t producing results, have you ever considered it’s not the method, but how you’re executing it that’s not working?