January 31, 2022 / by Russell Collins / Best Practices, Connelly Corner / 0 comments
I am of the opinion that one of the major stumbling blocks for new (and, surprisingly, even more experienced) Financial Advisers in conducting successful initial meetings with prospective clients (as well as review meetings with existing clients) is the lack of proper preparation.
In recent years Dealer Groups have introduced a one-size-fits-all templated fact finder document to be used by their advisers in both initial and ongoing discussions with prospective or existing clients. In terms of compliance requirements, the dealer group needed to protect itself from possible future litigation down the road and therefore many participated in designing the questions that their advisers could ask.
From my experience, I believed that there were two problems with this approach.
Read more
How to Help Clients Through Their Financial Anxiety
November 20, 2023 / by Don Connelly / Managing the Relationship / 0 comments
Who among us has never had worries about money? You can expect that many of your clients have experienced money worries from time to time. We know that clients can become stressed during periods of increasing market volatility or economic distress. And we’ve shared how financial advisors can help clients deal with that stress and confront fears to prevent their emotions from controlling their decisions.
But what about financial anxiety? Not only is that different from stress, but it can be much more debilitating to the psyche, causing mental paralysis in the face of important financial decisions. While stress is typically caused by external factors, such as a crashing market or rising unemployment, anxiety tends to rise internally over fears or unhealthy attitudes about the world around us.
Read more
How to Increase Your Life Insurance Sales through Preparation
January 31, 2022 / by Russell Collins / Best Practices, Connelly Corner / 0 comments
I am of the opinion that one of the major stumbling blocks for new (and, surprisingly, even more experienced) Financial Advisers in conducting successful initial meetings with prospective clients (as well as review meetings with existing clients) is the lack of proper preparation.
In recent years Dealer Groups have introduced a one-size-fits-all templated fact finder document to be used by their advisers in both initial and ongoing discussions with prospective or existing clients. In terms of compliance requirements, the dealer group needed to protect itself from possible future litigation down the road and therefore many participated in designing the questions that their advisers could ask.
From my experience, I believed that there were two problems with this approach.
Read more
Are You Prepared to Guide Your Clients Through Life-Changing Events?
October 18, 2021 / by Don Connelly / Managing the Relationship / 0 comments
It’s going to happen. You can count on it. I’ve written in the past why it’s critical for advisors always to be prepared for ‘what ifs,’ particularly as it relates to a stock market crisis. That’s when your clients need you most. Having a plan of action to help your clients through difficult times is essential if you expect to maintain their trust and confidence. But what about other crises—the unexpected, life-changing kind that can engulf your clients personally, like a divorce or the death of a spouse or child. Are you prepared with a plan of action to help your clients through the most challenging times of their lives?
Read more