Editor’s Note: This is the sixth article in a ten-part series identifying the best sales techniques for 2015. To view the rest of the series, click here.
50. Go the extra mile.
Financial advisors have the opportunity to impact people’s lives not just at the time of plan implementation, but as the plan unfolds, to be there to make sure it delivers in the way it was intended. Some advisers choose to follow-up with clients on a regular, or semi-regular basis, while others spend the majority of their time on new client development. Every advisor is faced with days where they are asked to go the extra mile for a client where there is little to no direct benefit. If they choose the path which often requires more work, it pays off in satisfaction for the client and a renewed passion for the advisor to help more people. I know because that happened to me!
— David Hillelsohn, brokerage manager, The Haslett Management Group Inc.
49. Get niche.
Break through the clutter of mass communications. Create targeted landing pages and email sequences to address the specific needs of your ideal audience. The more targeted you can segment your audience and messages, the more direct and impactful you can be.
— Alana Kohl, AdvisorPR
48. Effectively market to your existing database.
Financial advisors often spend tens of thousands of dollars each year on marketing, capturing hundreds of new prospect leads each year. Maximize your investment by continuing to effectively market to your existing database. Tag the areas of interest they have expressed, and send targeted campaigns speaking directly to their needs.
— David Alison, Clarity 2 Prosperity
47. Build a tax practice.
Tax planning for retirees is a critical component of financial planning to provide the most tax-advantaged income possible throughout retirement. Incorporating a tax practice as a part of your advisory firm is a great and cost-effective way to add hundreds of new first appointments to your calendar each year, while also providing a value-added service for existing clients.
— Don Chamberlin, The Chamberlin Group
46. What is your plan for your RMDs?
Simple and powerful. LIMRA reported that 64 percent of all annuities are funded with qualified funds. When you take out the affluent and mass affluent, I believe that number is much higher. All qualified funds have RMDs. If RMDs aren’t planned for, then the consequences can be devastating. Sequence of returns risk and a 50 percent penalty from the IRS are tops on the list.
Lead with this: “As someone who specializes in retirement income planning, let me show you how many people leverage annuities to satisfy their RMDs…”
— Sean A. Ruggiero, CEP/RICP, President & Founder of Safe Money Smart, LLC