- Follow the 80-20 rule. The more you listen, and ask great questions along the way to elicit more and deeper levels of understanding, the more likely your response will be on target.
- Make it about them. Once you understand the prospect, tailor your comments and approach around their needs, their issues, and their concerns.
- Match the prospect. Watch the prospect and communicate in ways that they can identify with.
- Don’t assume. Just because the prospect fits a certain profile, don’t put them in a bucket with all other people of that same profile.
- Provide context. Provide background and other information to help the prospect make sense of what is being sold.
- K.I.S.S. Keep it simple, simply. Don’t use complicated industry jargon.
- Take “No” for an answer. Not every client is right for every advisor. There are times when “No” is the right answer – for both of you.
- Qualify. Ask the right questions, listen for concerns or hesitation and be sure the prospect is in the position to actually buy.
- Keep at it. Stay in contact in a positive way, keep networking and keep prospects up-to-date about your activities.
- Play the percentages. Work with only well-qualified prospects, but make sure you are generating enough opportunities to find several at any given time.
Advisors who provide rollover advice must exercise caution to ensure compliance with both regimes.
Whether you like it or dread it, it's alive.
You already visit some of these places. Put in a little extra effort, and you could reap big rewards.
Sponsored by FMG Suite
Finding the right marketing solution for your advisors.
Sponsored by Smarsh
Review these scenarios to make sure you avoid FINRA & SEC penalties.
Sponsored by Smarsh
It’s easy for modern communication methods to expose your firm to risk. Find out how to ensure you remain compliant!
Don’t miss crucial news and insights you need to make informed investment advisory decisions. Join ThinkAdvisor.com now!
- Free unlimited access to ThinkAdvisor.com which provides advisors, like you, with comprehensive coverage of the products, services and trends necessary to guide your clients in making critical wealth, health and life decisions.
- Exclusive discounts on ALM and ThinkAdvisor events.
- Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.
Copyright © 2019 ALM Media Properties, LLC. All Rights Reserved.