The Reasons You Are Losing Potential Clients Is Not Rational
Once upon a time, all it took to consistently grow your business was to have the following competence criteria:
- Knowledge & expertise
- Credentials
- Case studies & happy clients
- A friendly and professional appearance
- Solutions to your client’s most common problems
- Ability to deliver value
But that was before a significant amount of new financial advisors have come onto the scene in the last few years.
I just typed “financial advisor” into Linkedin’s search window and can you guess how many results it returned?
1,910,000!
And of those 1,910,000 advisors, how many do you think would have the full list of the above criteria?
Pretty much most of them.
Let that sink in for a minute…
What this means is:
- Competence or rather the appearance of competence is no longer special
- The competence criteria that once elevated you above your competitors is now the baseline, the bare minimum, and no longer differentiates you
- If your marketing message is based on any one of those competence criteria, the best you can hope to achieve is a side-by-side comparison next to other advisors
On the contrary, with every new financial advisor that comes online and saturates the market further, you’ll be forced to work harder and deliver more value, to compete for the same high net worth client — just to stay in the game.
These are the non-rational thoughts that go through the mind of your prospects:
“Gee, there are so many advisors to choose from and they all look pretty good. How can I tell if any of them are as reputable and trustworthy as they appear? I guess I can’t really know until I choose. That’s a risk I’ll have to take but boy does it make me uncomfortable”.
Can you see why your potential client’s hiring decision is not a rational assessment of what you actually do?
There’s no way for them to judge you until AFTER they hire you.
As a consequence, their hiring decision is made on how secure they feel in choosing you, based on their perception of how much certainty and authority you project.
With so many advisors to choose from and each appearing to be highly competent, a
front-end marketing process based on your competence has lost its leverage in influencing your prospect’s hiring decision.
If anything, it engenders the baseline suspicion and distrust that many of your prospects have by default, because it positions you alongside every other advisor making the same claims of credibility.
The perception of you as a Trusted Authority is your only true sustainable differentiation.
Being a Trusted Authority means that out of all the possible choices to go with, you engender the most certainty and are therefore the best choice, or rather the only choice, for your potential client to make.
Your differentiation has to be YOU, not your competence.
You can’t be copied.
YOU can’t be commoditized.
The traditional belief that your client’s hiring decision is rational is a myth.
Even though they might say that, in reality it’s mostly an emotional decision based on their perception of you being the right person for the job.
And that perception has little to do with your knowledge, expertise, or anything that comes post-sale.
The key shift you need to make is from a pre-sale marketing process based on your competence, to one that positions you as the Trusted Authority in your market.
The one who provides the most certainty and authority WINS.
If you're an ambitious advisor, with a defiant streak (following the crowd isn't your thing), who is overly reliant on referrals, with limited time and resources, but willing to grow and challenge your own thinking -- and you'd be happy with 1 – 2 new high-net-worth clients per month...
Then it's time to upgrade your skill set to a "category-of-one" new inbound high-quality sales/lead model (no prospecting), that defies traditional industry thinking and norms...
Get Your Free Book & Free "Get New Clients" Lead Generation Consultation ASAP!
Order the new book “Trusted Authority” below and get a free “Get New Clients” lead generation consultation (value $995).
In this ground-breaking new book, you’ll discover:
- How to create a flow of high-quality leads in the next 90-days by becoming the Trusted Authority in your market
- How to differentiate yourself from other advisors so that your ideal client says “He/she is the one for me…”
- How to re-position yourself to create inbound demand for your ideal clients only becoming a “category-of-one”
- How to create a “by-appointment-only” business so you stop lowering your authority by "chasing” leads
- How to onboard new clients in one single meeting or zoom conversation… yes this is possible!
Meet The Author
Ari Galper is the world’s number one authority on trust-based selling and is one the most sought-after sales conversion experts for Financial Advisors.
He is the creator of Unlock The Game®, a completely new revolutionary sales approach that overturns the notion of selling as we know it today.
Ari has been featured in CEO Magazine, SkyNews, Forbes, INC Magazine and the Australian Financial Review.
His newest book, “Trusted Authority”, has become an instant best-seller among Financial Advisors worldwide.
With clients in over 35 countries, his global sales systems have become the most successful Trust-Based Selling systems of our time.
In a day and age where technology rules the selling world, for many growth-oriented advisors, deep trust has taken a “back seat” to the sales process.
Ari’s personal insights on how to build trust between buyers and sellers continue to break new ground in the financial services industry.
Ari has been on a mission for the last two decades to change the financial services world through trust.
Through his sold-out talks all over the world and his in-house trainings for high-producing advisors, Ari has become the global ambassador to businesses all over the world.
He regularly connects with global business icons and leaders of industries seeking his counsel on how to infuse trust in their organisations and across their teams.
Ari is a true “disruptor” in the financial services industry. He has been endorsed by legendary sales mentors like Brian Tracy who said: “Ari Galper’s trust-based selling approach is the greatest sales breakthrough in the last 20 years”.
Ari’s sales growth consulting firm has a growing waiting list of financial advisors wanting access to his unique Trusted Authority lead generation models and sales conversion strategy advice.
Ari is also the author of “Lessons From Toby”, a special book about his son Toby who has Down’s Syndrome, who has made a major impact on Ari’s approach to teaching authenticity and trust in his Trust-Based Selling approach.