Close Close

Life Health > Life Insurance

Be an advisor, not a salesperson

Your article was successfully shared with the contacts you provided.

There is a large, gray flaw in the way some financial professionals approach their work with clients–one we should all work to improve. In many ways, it’s the elephant in the room.

Yes, your role as a financial advisor requires selling products — life insurance, long-term-care insurance, and annuities. But the mistake many advisors make is focusing only on the sale. Selling by its very nature designates someone wins and someone loses. As advisors, we should never want our clients to feel as if he or she has lost anything. We want them to feel they have gained a valuable service from us.

When faced with life’s transitions, clients’ expectations change.

Managing investments will cause both excitement and stress. It can be easy to want to provide a quick fix when a client is looking for a solution, but a strictly sales-minded approach may create objections that then must be overcome. If your clients feel uncomfortable, any sound advice or solutions you try to offer will be rejected.

Offer comprehensive solutions
To keep the focus off the sale, offer your clients comprehensive solutions to address their individual needs. Just as the clients you work with are unique, so should your strategy be for advising them. Building a mutually beneficial client relationship starts with the words we use and how we carry ourselves. Realize your exposure to the personal elements of their lives: their finances, emotions, worries, joys, and everything else that come with life’s progressions.

Take time to listen — really listen — to their needs, and keep in mind this is a private space and an honorable one in which to sit. As advisors, we may know the business, but we must empower our clients to make the best personal decisions so they then may enjoy the results.

Protect clients’ assets
Always remember your role is to protect your clients’ assets. To do that, you can’t rely on a one-size-fits-all solution. A client-centric approach may require more time and effort upfront, but it will ultimately increase client retention and satisfaction and help your business thrive.

Have your client’s best interests in mind and help them take the necessary steps to achieve their goals. Turn your sales-minded approach into one that builds long-term relationships based on trust–and keep the elephant out of the room.