Archive for August, 2008

The big disconnect between financial advisers and their prospects

~ Friday, August 29th, 2008

Everyone wants these benefits:
• To have more income
• To pay less tax
• To protect their assets
• To provide financial security for their family if their income is interrupted
• To maintain their financial and physical independence in retirement
Products and service you offer provide these benefits:
• You have products that provide more income than bank accounts (bonds, [...]

Financial Advisors usually focus on the wrong things

~ Thursday, August 28th, 2008

Think about Tiger Woods. If he practices just his putting and gets really great, does that assure him of a win? To be a great golfer, it won’t help him to rank a “10” in putting but only a “7” in drives, fairway shots and chip shots. To be great, he must be strong all [...]

What to do when the prospect does not want your product

~ Wednesday, August 27th, 2008

In most cases the correct thing to do is give up. What, you gasp, “but my mentor told me that persistence is everything and to get six no’s before I give up and to…” This type of persistence is needed by poor advisors with lousy marketing plans chasing poor prospects. Wealthy successful advisors do not [...]

If you want to sell more, stop selling

~ Tuesday, August 26th, 2008

Do you like to be sold?
Notice that when you see a sales pitch coming, your muscles tense up a bit and you put on your “armor” so as not to be convinced of something you don’t want. Your prospects do the same. Everything you’ve been taught by product companies—about spouting features and benefits screams SALES [...]

Six Ways to Grow Your Business That Won’t Give You Compliance Problems

~ Friday, August 22nd, 2008

Here are six ways to keep your compliance department happy and still grow your business.
Seminars
You could do seminars with little hassle if you use your firms approved materials. However, I often hear from many reps that these materials get poor results but you can get good results even from even poor materials. Just [...]

Five reasons that financial designations matter for financial advisors

~ Thursday, August 21st, 2008

Potential prospects are more readily drawn to financial advisors with financial credentials and financial designations. In a poll of retirees asked what was most important to them in a new advisor, “specialized training” and “a credential evidencing specialized training” ranked 2 and 3 respectively out of 8 choices.
First, a financial designation implies that you think [...]

The Transition from Financial Sales Person to Financial Advisor

~ Wednesday, August 20th, 2008

Financial Advisors Earn More

The tremendous benefit that accrues from status as a true financial advisor is that you have no agenda, no product to sell, and no objective other than to do what’s right for the prospect and the prospect can sense that. Because prospects do sense the difference between a financial sales person and [...]

Pain vs. Pleasure-the Key to Unlock Your Motivation

~ Monday, August 18th, 2008

About 3 years into his career in financial services career, Bill recognized a “hidden truth” that allowed him to triple his business, from $320,000 to $1 million in 4 years. Here’s what he noticed. He was more motivated to avoid pain that to obtain pleasure. When he became a branch manager, he [...]

The Best Stock You Can Ever Own

~ Friday, August 15th, 2008

Why buy someone else’s stock? Can you trust their management’s intelligence, ethics and honest financial reporting? Will you see them on the nightly news, behind bars after they’ve used the shareholder’s money as a personal piggy bank? The person you most trust is yourself, so why not create your own stock? [...]

Six Things That Top Producers Have In Common

~ Wednesday, August 13th, 2008

They Specialize

They have a target market and they won’t waiver. They turn down business that does not fit their niche and they don’t prospect outside of their niche. They understand that “birds of a feather flock together” and they use that to their advantage to dominate a well-defined niche. They specialize in a type of [...]