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When was the last time a client or prospect walked into your office and asked for an estate plan? The reason why people don’t ask for one is that they need a deeper clarity around their specific goals for their estate. Instead, ask this question. “Did you know about our beneficiary audit service? “The typical answer is no, what is that about. “Would it be valuable to do a beneficiary audit, to summarize on one page all your beneficiaries and the benefits they will receive, and make sure all beneficiaries are correct and coordinated with your will? If we could summarize this information on one page, would that be valuable to you?

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I get it. I was a financial advisor for over 20 years, so I get the problem with ideal client acquisition. It is not that you can’t acquire ideal clients, you are already successful. It’s not lack of confidence or knowledge, you have that. You have all the tools to acquire more ideal clients, but you choose not to because of one thing. Your compass.

What is holding you back?Time pressures occur on a daily basis for advisors who are not organized and lack discipline in time management. I get it. You are constantly feeling behind in all of your client service tasks, emails, and daily meeting notes. The last thing you want to do right now is bring on a new ideal client. The first thing that goes through your mind to pick up the p...

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Most financial advisors do not have an ideal client profile. If you are looking for more ideal clients, then define who you are looking for. First, it’s your internal belief system on who you are looking for. For example, what you say and believe have to match” We do our best work with ____ (the type of client) who has a net worth between 2 to 6 million” . Who do you do your best work with?

Build case studiesBuild case studies to help people identify the people who need to work with you, that are not getting comprehensive planning and advice. Your ideal client profile will help you find those people and help people understand your ideal client profile. Reading your case study will help your prospects understand potential...

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When I ask financial advisors, what I the most important piece of technology they use, they rarely come up with the answer I am looking for. This technology can transform a practice from struggling to success in a very short time. Everyone has their opinion on what the best use of technology in their practice is. After all, being a practice management specialist, I talk about technology every day. So what is the most important piece of technology for financial advisors? It is your phone's voice recorder.

Why is the voice recorder the most important technology?When was the last time you recorded yourself and listened back to self-coach yourself? So here is an idea that can transform your business, your client meetings, and your outlook. It...

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The real risk is not reaching your goals, especially if there is no clear plan to get there. Performance won’t matter, asset allocation won’t matter, and the best products won’t matter if clients don’t reach their goals. Do you do goals-based planning with your ideal clients? A big challenge for people is to clearly define their future on paper. A crucial role of a financial advisor is to help their ideal clients get a deeper sense of clarity around their future.

How can you help people get more clarity?

In my workshops with financial advisors, I ask two questions in relation to their own personal goals. First look at the list below and tell me how many goals you personally have? The answer is usually 6 or more, and...

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As the late Jim Rohn once said” We’re affected by whatever we know or don’t know. Here’s a good phrase to jot down: Ignorance is not bliss. Ignorance is tragedy. Ignorance is devastation. Ignorance creates lack. Ignorance creates disease. Ignorance will shorten your life and leave you with the husks, nothing to account for. No, ignorance is not bliss.” www.jimrohn.com

What are clients ignorant of?

Coaching top financial advisors on a daily basis, we all know that there is a tremendous amount of change in the financial industry. But paying attention to the changes is important. As Albert Einstein said,” the only knowledge is experience”. If you have not experienced the changes then how could you p...

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Favorable introductions are easier than referrals. After 30 years in the financial industry in various roles including being a financial advisor, National Director of Practice Management and financial advisor coach, I truly believe that favorable introductions are easier for financial advisor clients than referrals. Let me explain. When I was growing my financial advisory practice, I was looking for more ideal clients, wealthy individuals who needed complex planning and advice to help them reach all of their goals. The financial industry and all top advisors said, grow your business by referrals only. But, I did not buy it, there must be more to it than sitting at your desk waiting for people to call you because they told a friend how wo...

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What is on your third screen? I use three screens to accomplish my work. Two for work tasks and the third screen to focus on the most important people that I work with, and would like to work with. Let me explain. As a financial advisor, what is your daily and weekly focus? How much will you grow your financial advisor practice this year? Five percent, ten percent, twenty percent or more? When you look at how much you want to grow as a financial professional, you look at your revenue. When you look at acquiring new ideal clients you look at the number of new clients you can acquire. There is a big disconnect on how we think we will grow and what actually happens. Change your thinking. What if it only takes one or two or three clients to ...

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If you want clients to trust you, hire you, move all their money to you, implement the advice from your planning process, keep working with you in any market or economic conditions, and introduce you to everyone they know... you need to have strong communication skills.

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If you want clients to trust you, hire you, move all their money to you, implement the advice from your planning process, keep working with you in any market or economic conditions, and introduce you to everyone they know... you need to have strong communication skills.

Words matter a lot. What you say, how you say it, and when you say it can make all the difference in the world to your success or failure.

If you’d like to discover exactly what to say and what NOT to say in order to attract and retain the clients you really want, you’re invited to attend a free webinar training with Bill Bachrach on January 24 at 11:00am PT / 2:00pm ET.

When you learn to speak the language of trust you can create relationships where people trust...

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