Losing more potential clients than when you originally first started your practice, is the kind of problem that keeps even the most experienced advisors up at night.
Many advisors are saying to me, “Ari, I’m worried. The market is changing, potential clients who I would’ve easily signed in the past, just don’t seem interested lately. It’s not that they’re going with another advisor, it’s that they’re not going with an advisor at all – they just keep shopping around. What’s going on and what can I change in my sales process to reverse this trend?”.
Here’s what I tell them.
The first and most important thing you need to figure out is, what a potential high net worth client is looking for when they come to see you.
What is the no.1 thing on their mind, that compelled them to seek advice from a new advisor in the first place?
Most likely, the number one thing they’re looking for during their initial consultation with you, is this:
“Is there something new or different that this advisor can tell me about what to do with my money, that I haven’t heard from any other advisor?”
The natural response to address a question like that, is to try an impress them with how your different or try and show them something they haven’t seen before.
After all, you’re a financial advisor, isn’t it your job to show them solutions upfront, so they’ll be impressed enough to start the financial planning process with you?
That can be a repetitive closed loop, because every other advisor they speak with, will attempt to do the same.
Your job is to zero in on their motivations and unpack the total view and impact of their situation, before you suggest anything else.
They might feel secure on paper, on a purely analytical level. But something’s bothering them on a deeper emotional level, or they wouldn’t have reached out to you.
They’re subconsciously hoping you can tell them what that is.
With that in mind, consider the languaging you could use to pinpoint that unidentified deep-seated need driving them.
Is it managing their money more efficiently? I doubt that would keep them up at night.
Is it the fear of losing what they have? That’s closer but a little vague.
What if it’s ensuring that their financial legacy gets safely passed on to their children, or their grandchildren, by having an entrusted protector who can safeguard it from the growing systemic threats that exist now, and will likely get worse in the future?
Whatever the underlying motivation might be, the point is to help them get to their own “aha” moment.
Rather than defaulting to delivering value, instead, focus on delivery deep clarity to their own issues.
That will differentiate you from the other advisors they are speaking with.
Here are three recent Financial Advisors, thankful and appreciative for discovering why they were losing clients by following the “normal industry accepted” sales process:
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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, “Unlock The Sales Game”, has become an instant best-seller among Financial Advisers 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”.
His work in the trust-based selling field, focusing on reversing control of the sales process, from buyer to seller, is considered category-of-one thinking, with over a two decades of proven execution and results.
Ari’s sales growth consulting firm has a growing waiting list of financial advisors wanting access to his unique sales growth advice and sales conversion strategies.