/ by Don Connelly / Managing the Relationship / 0 comments
Brad from Southern California is a Merrill Lynch advisor. He sent me an email, which is in a way, funny, but poses a very serious question nonetheless.
“Don, I have a strange concern. I’m concerned that in my attempt to make things simple I go too far. There are times when I feel I’m patronizing people by talking what I call ‘baby talk’. I literally get embarrassed sometimes. I know what you’re going to say, keep it simple. But when’s enough enough?”
Listen to Don’s answer or read the transcript below.
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Put Investing in Terms That Clients Can Understand
/ by Don Connelly / Investing Wisdom / 0 comments
Everyone knows that cars go down in value. That’s just the way it is. No matter what you pay for a car, and no matter how carefully you look after it, it’s going to be worth a lot less than you paid for it. It’s never going to bounce back in value, but car owners are okay with that. They are pre-conditioned to the loss. However, clients don’t see their investments this way. They think investments are only supposed to go one way – up. When investments go down, clients feel they have lost money, even if they have not sold out. They will take a hard loss on a car and not bat an eye, yet they can’t stomach a paper loss in their portfolios.
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To Be The Best Financial Advisor You Can, It’s Essential to Challenge Yourself
/ by Don Connelly / Best Practices / 0 comments
There are two paths you can follow in your career: One that goes uphill or the easy one, which involves simply getting through the day. Not many people take the steepest and hardest path, which is why so few really achieve success. But if you’re prepared to challenge yourself and commit to hard work, practice and persevere, you will maximize your talent and do what unsuccessful people are not willing to do.
So, step out of your comfort zone and start creating your own success story. Here are a few important self-challenges.
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Put in The Effort if You Want to Become The Most Sought-after Financial Advisor in Town
/ by Don Connelly / Best Practices / 0 comments
To become a truly elite financial advisor you need to have an incredible work ethic. If you’re new to the business, you will need to spend most of your time actively prospecting and looking for clients. It could take years to build a solid client base – but when you have built up the right clientele, you will be rewarded with a pool of people who are happy and willing to provide you with referrals.
To achieve this enviable position, continually visualize yourself as a first-class advisor. Program that picture into your subconscious mind. Then work harder than any other advisor, perfect your soft skills, earn referrals and make this dream a reality.
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Become What People Want
/ by Don Connelly / Storytelling, analogies and power phrases / 0 comments
Let’s talk about becoming what people want. Do you know what people want? People want a beacon of anti-stress.
Watch the video or read the transcript to learn how you can become that for your clients.
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What to Do in The First Client Meeting
/ by Don Connelly / Managing the Relationship / 0 comments
Meeting with a prospective client for the first time makes many advisors nervous. It’s your big opportunity to influence people to do business with you – or lose them forever. It’s essential to be prepared so that you come across as likeable and reliable – someone they can trust to oversee their finances and establish their future security. Here’s how to do that.
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A Story to Use When Discussing Your Fees & Commissions
/ by Don Connelly / Storytelling, analogies and power phrases / 0 comments
There are times when prospective clients are going to focus on your fees or your commissions. I want to talk about that, because it’s no one’s goal to offer the cheapest possible financial advice. That’s just not the way it goes.
So when someone talks to you about commissions or fees, I want you to tell them the Springfield story.
Watch the video or read the transcript below to hear the full story.
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Creating Urgency with Prospects
/ by Don Connelly / Prospecting / 1 comment
I can recall few times in my career when business has been as slow as it has been recently. Perhaps the slowdown is due to the fast approaching year-end. Certainly, the pending Presidential election has a lot to do with it, as does the recent DOL running. Clients and Advisors alike have adopted a wait-and-see attitude. But there also are more traditional reasons at work.
People don’t enjoy the prospect of saving for a rainy day. There’s always a reason to delay investing, and never a ‘right’ time to make the move.
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Understanding Your Clients’ Behavior Is Key to Your Success as a Financial Advisor
/ by Don Connelly / Managing the Relationship / 0 comments
The more you understand what motivates your prospects and clients, the better your chances of success when it comes to attracting and retaining them. When you begin to see things from your clients’ and prospects’ point of view you can start to influence their decisions and help them make good financial decisions.
So break out of your own mindset. Step into their shoes: Then you will be able to build strong client relationships, anticipate your client needs and manage their expectations.
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Am I Oversimplifying Things?
/ by Don Connelly / Managing the Relationship / 0 comments
Brad from Southern California is a Merrill Lynch advisor. He sent me an email, which is in a way, funny, but poses a very serious question nonetheless.
“Don, I have a strange concern. I’m concerned that in my attempt to make things simple I go too far. There are times when I feel I’m patronizing people by talking what I call ‘baby talk’. I literally get embarrassed sometimes. I know what you’re going to say, keep it simple. But when’s enough enough?”
Listen to Don’s answer or read the transcript below.
Read more