Over the weekend I was scrolling through my Linkedin account and was rudely awakened by some posts that I personally considered yucky.
Posts from people, some who have over 100’s of thousands of followers, talking at 5,000 miles an hour on their iphone videos about sales. These people, most of whom were from a background in software or insurance sales, were going on and on using terms that made me cringe.
Do the following terms make you cringe too?
"Setting” appointments
Your “reps”
“Crushing numbers”
Getting a deal “booked”
If you’re just as grossly turned off as me about some of the terms above, YOU ARE NOT ALONE. Unfortunately, this is exactly the reason why every time I survey a group of wealth managers about how they feel about the word “sales”, 99% of them say “We hate it and think it’s disgusting”.
But what seems to happen is that that disgust has turned into resistance around any efforts of business development, and many advisors refuse to go down any avenue that has to do with “sales”, given their preconceived notions of what it looks like. And yes, I agree with you, the images out there would turn me off too. They have and they did.
The good news is that the MAJORITY of sales training or sales ideas out there DO NOT apply to the investment community. Investors who are thinking about giving away their entire life savings to a financial advisor are not procurement officers, or heads of product, or Chief Technology Officers of large companies who can be “sold” to. The are seriously looking to see who they can connect with most. Who they feel has their back and can take care of them and their legacy.
Thus the importance of Consultative “Sales”. I hate to even use the word sales, but let’s face it, it’s actually a balance sheet line item. It is new revenue, it is new assets. It is new investors feeling comfortable with you.
So, if you want to grow but don’t want THAT, don’t fret. You don’t have to and it doesn’t apply to our discerning, highly examined, highly confidential industry. As long as you learn how to become a better consultant through consultative selling, how to develop better “right brain” acumen in connecting with your ideal client, how to have more empathy and powerful questions that can showcase your knowledge towards someone’s situation, you will be able to grow your practice. It’s that easy.
Financial advisor communication training is a key element in building trust and fostering long-term relationships with clients. The ability to effectively communicate complex financial concepts in simple terms is essential for financial advisors, ensuring that clients feel informed, valued, and understood. Through specialized communication training programs, financial advisors can develop the skills to listen actively, ask insightful questions, and respond empathetically to client concerns. This helps strengthen the advisor-client relationship, making it easier to provide tailored financial solutions that meet the unique needs of each individual.
Investing in communication training for financial advisors not only enhances client satisfaction but also drives business growth. Advisors who master clear and confident communication can better address objections, present opportunities, and manage expectations. By honing these skills, advisors can differentiate themselves in a competitive market, increase client retention, and expand their client base. Financial services firms that prioritize communication training empower their advisors to build stronger connections with clients, ensuring long-term success and stability in the financial advisory industry.
Bespoke training programs for financial advisors are the key to unlocking exceptional sales performance. By tailoring training to the specific needs and goals of each advisor, financial firms can ensure that their teams are equipped with the knowledge, skills, and strategies necessary to thrive in the competitive financial landscape. A personalized approach to training allows advisors to focus on their strengths while addressing any gaps in their skillset. This targeted development ensures that they can adapt to changing market conditions, meet client expectations, and ultimately drive revenue growth for their firms.
A bespoke training program offers more than just generic sales techniques—it is designed to address the unique challenges that financial advisors face in their particular niche or market segment. Whether focusing on investment strategies, portfolio management, client relationship building, or navigating complex financial regulations, these customized programs provide advisors with the specific tools and resources they need to succeed. This level of personalization enhances engagement and ensures that training is not only relevant but also impactful in driving measurable results.
Moreover, bespoke training programs provide flexibility for financial advisors to learn at their own pace, making the process more efficient and effective. With hands-on training, live workshops, and access to digital resources, financial advisors can reinforce learning and apply new concepts directly to their day-to-day interactions with clients. This format promotes a deeper understanding of the content and helps advisors integrate best practices into their workflow, boosting confidence and performance in real-world scenarios.
Select Advisors Institute specializes in developing bespoke training programs specifically for financial advisors. With an understanding of the unique demands of the financial services industry, Select Advisors Institute customizes its training programs to meet the specific needs of each individual or team. By combining expert insights with practical, actionable training, Select Advisors Institute empowers financial advisors to enhance their sales techniques, optimize client relationships, and ultimately achieve greater success in their careers. Partnering with Select Advisors Institute ensures that financial firms provide their advisors with the most effective and relevant training available, leading to sustained growth and performance excellence.
Explore cutting-edge prospecting and sales strategies for financial advisors with Select Advisors Institute. Learn how to build authentic client relationships, leverage advanced technology, and create compelling content that sets you apart in the financial advisory industry. Understand evolving client expectations, shift from product-focused selling to solution-oriented approaches, and master the art of overcoming objections with empathy and insight. Our comprehensive approach empowers advisors to transform prospects into loyal clients by emphasizing value and client-centric solutions. Join us to elevate your financial advisory practice and remain at the forefront of industry innovation. Select Advisors Institute—your partner in redefining success in financial advisory.