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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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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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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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What is the real reason why ideal prospects do not bring all of their key financial documents to a meeting with you? Because you have not positioned it properly in their minds. Positioning according to Wikipedia” refers to the place that a brand occupies in the minds of the customers and how it is distinguished from the products of the competitor”. Most financial advisors I ask how they position to prospects to bring all of their documents with them at the meeting, that the advisor has set up, is wrong. It is usually positioned to the advisor's benefit. The advisor positions it by saying something like “ bring in all of your financial documents so we can see where you are at and it will help me understand how we can hel...

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Do your ideal clients know all the services that you offer? Imagine walking into a restaurant, and after getting seated, the host rips the menu in half and says” enjoy your meal”. Do you want the whole menu or just half of it? Your ideal clients, which are your best clients want the whole menu. They delegate everything to you and are “all in” when it comes to comprehensive planning and advice. The clients who only want to use part of your services are NEVER going to be your ideal clients, so stop hoping they become one someday.

Ideal clients delegate

Imagine having two doctors you trust that compete with one another, one doctor for the top half of my body and one doctor for the bottom half. Sounds crazy to most, yet...

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“In the struggle for survival, the fittest win out at the expense of their rivals because they succeed in adapting themselves best to their environment". ~ Charles Darwin

Charles Darwin would love financial advisors today. In October 1838 Charles Darwin thought of a way in which one species could change into another. He noticed that individual members of a species vary. Furthermore, all animals are competing to survive. If the environment changed in some way, say if a new, faster predator appeared then any herbivores that could run slightly faster than other members of its species would be more likely to survive and reproduce. Any herbivores that ran slightly slower than most would be more likely to be eaten. Slowly a new, faster h...

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Top advisors manage their capacity by taking more time off. They have the systems and processes in place with their staff to service clients and manage expectations. They have the processes to deliver comprehensive services and do regular feedback to meet and exceed expectations. They are great at delegating and building processes such as client checklists, service checklists and follow up checklists to meet and exceed expectations and have a way of articulating their value that clients understand. They have practised it, over and over and use it consistently to service their ideal clients. They focus their time and energy on the things that bring value to their ideal clients and delegate the rest. Then they take more time off. Remember...

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Have you ever been to a meeting that took more time than necessary? How can you make your meetings more productive, while enhancing your client experience? How can you demonstrate value in your progress update meetings? In working with Business Health and their client survey tool, Ray Henderson of Business Health in Australia suggests that clients surveyed in several countries around the world by their financial advisor sometimes do not see value in the review process www.businesshealth.com.au Why is there a disconnect between what the advisor delivers and what the client sees as a valuable use of their time?

It starts with an agenda In my workshops with financial advisors, it all starts by having a solid agenda for your existing ideal ...

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