advisors

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.

A Foolproof Way to Hold People Accountable

If we consider a simple definition of accountability as, “the ability to account for your own actions”- it seems surprisingly straightforward. But, accountability also involves having clearly communicated objectives, being granted authority over those objectives and having predetermined outcomes for either success or failure. Any ambiguity over outcomes, objectives and time-frames will affect your ability to be accountable.

Enhance Your Everyday Negotiating Techniques

When we hear the word “negotiating”, we often think of closing a big sale or making a big purchase but negotiating is something that can happen every day with family, co-workers and clients. You are negotiating any time you tell someone that what you want is different from what they are trying to give you. The common goal of negotiation is to aim for a win-win situation where both parties come away feeling satisfied.

Add Value to Your Client Experience

With phase two of the Canadian Securities Administrators' (CSA) and IIROC’s Client Relationship Model (CRM) rules looming for most advisors, now is a perfect time to consider what you can do to add value to your client experience. This year starting in July, Canadian firms will have to provide pre-trade disclosure of charges and also disclose their compensation from debt transactions in trade confirmations to clients.

Run your Own Race

With the Olympics around the corner we are hearing from the athletes that they are all wanting to “peak” for their Olympic event. They also are planning what their strategy will be for the event, checking out who their competitors are and how they are going to use their strengths and abilities to bring home the gold.

Take Your Business to the Next Level with Referrals, Co-written with Aaron Hoos

As consumers, we have so much choice in the marketplace and marketing efforts don’t always effectively convince us to buy. The one type of “marketing” that holds the most sway over any decision we make is the enthusiastic referral of someone we know.

Skyrocket Your Business with a Board of Mentors

Starting out as a financial advisor promises a steep learning curve as you try to learn about how to provide valuable advice while at the same time ramping up your business with relentless prospecting. Fortunately, you don’t have to start out “cold” and you can avoid many of the mistakes of the financial advisors who have gone before you.

"Hello" to "Yes”- Become a Professional Persuader- Co-written by Aaron Hoos

When you sit down with a prospect or a client, you probably open the conversation with a brief comment about the weather, followed by a discussion about families or work or a news headline. At some point, the conversation shifts and you discuss some aspect of the client’s finances or portfolio – perhaps listening to their ideas or giving advice from research you’ve performed.

Syndicate content


© 2009 Rosemary Smyth & Associates