advisors

An Abundant Mindset and Scarcity Marketing

An Abundant Mindset and Scarcity Marketing

An abundant mindset is based on plenty being available with enough to share. It also focuses your thoughts on the long-term instead of having to have something right now. The phrases that you hear from someone who has an abundant mindset are: “there are lots of assets out there for me to prospect”, “I have a huge circle of connections” and “there are a ton of good stocks out there to buy”.

The Best Mix for Sustainable Business Growth

It’s been a safe bet to prospect older clients in order to meet production and asset goals, as that is where the largest concentration of wealth can be found. That has been the trend for younger as well as older advisors. However, we are now experiencing in the investing industry a time where the average age of clients is moving from 62 to an expected 70 over the next several years and the average age of advisors is at 52.

Create a Clearer Vision for Your Business

There is a famous quote by Lewis Carroll that says, “If you don’t know where you are going, any road will get you there.” Having a vision and knowing where you want to go is one of the cornerstones of your business. By communicating what it is you want your business to look like, you will be able to focus your intentions and create a foundation for making decisions and evaluating opportunities. Having a compelling vision for your business also helps clients to understand what your business “really” is and how you can provide solutions to their needs.

Using Storytelling to Build Trust with Clients

When meeting with a client, being able to tell a relatable business story can help build an unparalleled level of rapport and trust. It’s easy to learn to tell stories. We tell them every day and don’t even realize it.

7 Questions to Ask Yourself before Hiring a Business Coach

Since business coaching is about you doing all the heavy lifting when it comes to setting goals and implementation, it’s important to be prepared for the experience and see if it fits your needs. With the choices of having a mentor, consultant or coach to work with, it’s important to determine what approach would work for you to overcome your business challenge.

Tips for Your Next Networking Event

Networking is the art of building and sustaining mutually beneficial relationships. The goal of networking is to communicate with a stranger and make a connection. Depending on the firm you work for, networking events may be mandatory for you to attend, so it’s good to look for ways to make networking easier for you and more comfortable. When you are relaxed and confident at events, you are more approachable by others and come across as friendly and easy to build rapport with.

Advisors and Not-For-Profit Boards

There are many advisors that volunteer, give back to their community and use their skills and talents to become board members for not-for-profits, foundations or endowments. They bring their strong financial background to the table and usually take on the role as of treasurer or part of the finance committee for the charity. Their intention is to contribute in a meaningful way, while also being exposed to the pillars of the community and other liked-minded people at events.

Easy Ways to Reframe Rejection

The financial industry is rife with rejection and some advisors deal with it better than others. How do they deal with it? By building up their emotional strength to handle it and not taking it personally. Indeed, it is possible for advisors to desensitize themselves to rejection and become like Teflon. However, if your days are filled with calls and meetings that are going sideways, it’s a good time to consider what you want to start doing differently so you can get better results.

Letting Go of Less-Than-Ideal Clients

Some advisors hold onto clients that they consciously know are bad for them instead of taking one bold step that could improve the quality of their business. The challenge of letting go is tough for some people especially if they see their business situation as not so great but are more afraid of the unknown. It’s been said that the unknown is where your professional potential lies and that choosing the discomfort of change will reveal to you a whole new world of possibilities. It’s all about making that one courageous decision and leaving the status quo behind.

How Advisors and Clients Demonstrate Trust

Trust can mean different things to different people. Trust is also a function of both character and competence. To demonstrate trust, we need to see it in action. For some advisors, establishing and extending trust can be accomplished quite quickly. If there is trust between an advisor and a client, you’ll see more effective communication and collaboration and of course, having a reputation of trust is priceless.

Consider the following 10 ways advisors can demonstrate trust to their clients:

1. Respecting confidentiality.

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© 2009 Rosemary Smyth & Associates