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.

Read more

Five Reasons Advisors Needn’t Fear Technology

Five Reasons Advisors Needn’t Fear Technology

People are becoming increasingly adept at – and comfortable with – interacting with computers. This is fueling the debate around the merits of automated versus face-to-face financial advice. In reality, there’s no reason why both forms of communication can’t happily co-exist.

Technology can be a powerful aid to advisors when it comes to prospecting, building and maintaining relationships but it cannot replace the job of a full-service advisor. Here’s why.

Read more

Poor Communication Is The #1 Reason Advisors Get Fired

Poor Communication Is The #1 Reason Advisors Get Fired

The chief reason clients fire their advisors is not, as you may have thought, poor performance – it’s poor communication. A survey by Financial Advisor Magazine revealed that 72% of clients said they fired their advisors due to their advisor’s failure to communicate on a timely basis.

The best advisors put their communication strategy at the very heart of their business – and so should you. Not only should you build in time to communicate with clients – but take time to develop your soft skills so that you communicate effectively.

Read more

3 Types of Clients You Should Want to Attract and Retain

3 Types of Clients You Should Want to Attract and Retain

It’s surprising to find that certain broad sectors of the population still remain underserved in certain instances.

If you, unlike other advisors, can devise a strategy to attract and retain these potentially valuable clients, you could vastly improve your business.

Let’s have a look at three types of clients you should try to attract and retain.

Read more

5 Ways to Develop Accountability

5 Ways to Develop Accountability

Accountability is a trait many advisors lack, but one that elite advisors always possess. No matter how great your talent you won’t get ahead unless you become accountable for your actions and the actions of your clients. Without accountability you won’t develop the self-discipline you need to take charge of your career and make changes for the better.

If you need help to develop accountability, here are five ways you can get started.

Read more

You Need both Hard and Soft Skills to Succeed as a Financial Advisor

You Need both Hard and Soft Skills to Succeed as a Financial Advisor

You can’t offer financial advice until you have the necessary training and education under your belt. Learning the technical side is fundamental to your career, so that you can recommend appropriate products as well as adhere to the increasingly strict industry regulations.

But hard skills alone won’t secure you success. Even if you’re highly competent with technical information and product knowledge, unless you also possess the right soft skills, you won’t get your message across. Without excellent communication and interpersonal skills, you won’t get past the first post. That’s because prospects won’t understand what you’re saying or see why they should do business with you.

Read more

4 Behaviors to Avoid if You Want to Allay Client Concerns

4 Behaviors to Avoid if You Want to Allay Client Concerns

In the first meeting with you, prospective clients may be unsure if investing is the right thing to do. They may also have concerns about whether you are the right person to advise them. How you behave in your first meeting will dictate what happens next. You need to act to allay not only their objections around the investment process itself, but to eliminate any concerns they may have about working with you personally.

To make sure you leave them in no doubt about your ability, never do the following four things.

Read more

Getting Clients to Talk about Money

Getting Clients to Talk about Money

As financial advisors we’re comfortable talking about money, it’s what we’re trained to do. But for everyone else it’s a different story. Most people feel uncomfortable talking about money, so you need to consider how to introduce the topic in a relaxed way.

Don’t dive into the numbers at the initial meeting. Instead focus on building rapport with clients; then ask them what it is they want money for. The goals must come first – then the money. Once you understand your client’s vision of the future you can start doing the math on how to get there.

Read more

Teach Your Clients Not to Watch The Evening News

Teach Your Clients Not to Watch The Evening News

In our increasingly information-driven society, it’s your job to teach clients not to believe all they hear. They need you most of all when they’re being bombarded with negative news about the markets. Being exposed to excessive information without anyone there to guide them could see your clients making bad decisions regarding their investments.

Here are a few ideas how to make sure your clients stick to the plan despite what the media say.

Read more

1 2 3 4
top