Read our article in Barron’s about Consultative Sales Method as the anti- Bud Fox!
Consultative Sales: The Anti-“Bud Fox” Method
☛ What is Sales Coaching?
Neuroscientist Gregory Berns has explained "A person can have the greatest idea in the world - completely different and novel - but if that person can't convince enough other people, it doesn't matter."
Research by the Sales Executive Council shows that no other productivity or marketing investment comes even close to coaching in improving a professional's performance pertaining to growth. Yet, service providers spend thousands of dollars on expensive websites, brochures, technology platforms, search engine optimization, blog writing, and peer group discussions to grow their practice.
The end result? Many advisors growing at less than 10% annually, or even worse, throwing in the towel, laying off talented planners from their team, merging with advisory firms unwillingly, giving up their hard-earned independence, or being bought out prematurely.
A CONSULTATIVE sales coach brings in an outsider's perspective inside your practice, providing a third party, unbiased viewpoint of your team and how you operate as sales professionals. He or she also compares you to the industry benchmark of growth, which is comprised of years of research and observation of best practices in sales strategies within your particular industry.
With a full understanding of what you're doing right and where the potential weaknesses are, a good sales coach will be able to work with you and your firm to bridge the gap and help you become extremely competitive to win and maintain more business. Personalized sales coaching may be the best option for you and your practice.
Sales programs can help you and your team learn to better prepare and execute your sales and growth plans. When signing up for a sales training and coaching program, you can expect a range of resources designed to help your team learn the strategies that turn prospects into clients, such as soft skills, interpersonal skills, active listening, powerful email writing, virtual networking and a lot more.
Topics a Good Financial Advisor Sales Training Program should be an expert in
Handling objections for financial advisors
How to describe your fees as a financial advisor
How to move the ball forward with prospects
Best marketing material to take to your meetings
List development for financial advisors around ultra high net worth
Team restructuring to enhance the process
Zoom meeting etiquette for business development
Marketing Coach for RIAs
Accountability and goal setting for financial advisors
Firmwide sales manuals and sales process development, at RIAs and Wirehouses
Scripts and messages for advisors to their prospects
Personal branding to humanize your brand
Seminar planning for advisors
Finding Money in Motion opportunities
Select Advisors offers multiple types of sales coaching for financial advisors, and sales training programs for accountants.
Referralytics Coaching, as seen and heard in Michael Kitces
Consultative Sales Coaching as seen in Barron’s
Digital Marketing Coaching, as seen in our blogs and articles
Athletic Styled Group Sales Coaching for Advisors
Read Some of Our Top Sales Ideas and Strategies for Financial Advisors and Financial Firms
☛ Who is a good candidate for the Select Advisors Sales Coaching Program?
At Select Advisors,we believe that there is no “one size fits all” for everyone to grow their practice; it all boils down to personalities and what works best with your DNA. Some of us genuinely enjoy being the life of a party or networking event, but we have difficulties closing; others are great at researching leads, but they can’t articulate their value at a prospect meeting.
We have distilled people’s Sales Personalities into three categories:
The Strategist
The Charmer
The Researcher
Once you take our Consultative Sales Personality Test™, we will know your lowest hanging fruit to growing your practice.
You will then work with coaches and experts who excel at working with personalities similar to yours, and you will develop a roadmap to being the best version of you in your practice.
☛ How do you select a sales coach? Ask yourself, would I hire this person as my advisor if I was a prospective investor?
A sales coach is ONLY, repeat ONLY, as good as the coach behind it. If you have respect for the person coaching you, and want to emulate his/her style and approach to growth, you should hire that coach. If the coach irks you, or their style is unrealistic, trust your personal judgement.
At the same time, a sales coach should differ in their strategy from yours. Otherwise, you would be repeating the same pattern of growth, which is most probably not as ideal as you'd like.
Another way to see if you want to work with a sales coach is to see how fast they have grown their own sales coaching practice. If someone is a good sales coach, they can also sell their own business! If they have been in business for 10 years as a sales coach and still working with only 10-20 advisors, that's not a good sign.
☛ What are the credentials you should look for in a coach?
Some factors you should look for in a coach are:
Their track record within your own industry
The education and schooling of the coaches
The way they carry themselves. If you were a potential client, would you select this person as your financial advisor? Why or why not?
Are they ethical?
Do they understand your industry on a very technical level, and/or can they learn quickly because of their robust background?
☛ Why Select Advisors as a Sales Coach?
Reason 1: Our Consultative Sales Personality test distills quickly what works best for you, not teaching you strategies that will potentially take years to come to fruition. We are impatient, and want to get you results fast!
Reason 2: We are not just coaches, we are sales managers. Unlike most coaches who sugarcoat their discussions with you and tell you what you want to hear, we are big proponents of being as transparent as possible with you. We have no qualms challenging you on your views on yourself or the approach you take with a prospective clients. Sometimes, our discussions can become quite heated, so be prepared! We like to keep our clients on their toes for their own benefits.
Reason 3: We understand the client mindset, because we are still working with them! Unlike most sales coaches you hear at conferences who speak at 100 miles an hour and sounds like a used car salesman, we take great pride in having been business professionals ourselves, having worked with billionaires and multi-millionaires. We know what really works in the real world, and are still intimately involved in working with high net worth individuals through our various other projects, including our membership-only educational clubs for wealthy investors.
Reason 4: We don't just talk theory. During our one-on-one coaching sessions, you will have your computer in front of you, and will be sending emails to prospects, finding prospective clients in real time, going through your calendar of lunch appointments, maintaining your CRM, updating your social medial presence, and systematizing your meetings with COI's. While we want to motivate and invigorate you, we think that implementation is by far more important than theory.
Reason 5: We are investment professionals first, marketers next. Our founder and CEO taught derivatives and risk management as a faculty professor. She understands the investments world extremely well. Why is this important? By knowing full well the needs and objections of clients, together we can decide how to find the best solutions for them, not only from high level, but from a granular, product level that would satisfy their needs.
Effective sales coaching for financial advisors equips them with the tools to navigate complex client conversations and close deals with confidence. At Select Advisors Institute, we emphasize a blend of soft skills development, such as active listening and empathy, with practical techniques like objection handling and pitch refinement. Our coaching ensures financial advisors build trust and rapport with clients while clearly communicating their value proposition.
In addition, we integrate advanced technologies like CRM tools and analytics to track client interactions and improve follow-ups. By leveraging these insights, advisors can fine-tune their strategies and achieve better conversion rates. Whether you’re a seasoned professional or just starting your career, our tailored sales coaching programs are designed to deliver measurable results.
Questions you may be asking that we can answer through an introductory call
How can sales coaching help financial advisors close more deals?
What are the best techniques for handling client objections?
Why is relationship-building critical for financial advisors?
How do financial advisors refine their sales pitch?
What tools are included in sales coaching programs?
How does sales training improve client retention?
What are common mistakes financial advisors make in sales?
How can technology be integrated into sales strategies for advisors?
What is the ROI of sales coaching for financial advisors?
How can coaching programs be customized to individual advisors?
HAVE MORE QUESTIONS?
Investing in sales coaching services tailored for financial advisors is essential for achieving consistent growth in today’s competitive financial landscape. Effective coaching programs not only refine advisors' sales techniques but also enhance their ability to build trust and foster long-term client relationships. By focusing on strategies such as active listening, personalized financial planning, and addressing objections with confidence, these programs empower advisors to convert prospects into loyal clients. Financial firms that prioritize sales coaching see improved client satisfaction, higher retention rates, and a measurable boost in revenue.
HOW SALES COACHING CAN HELP YOU?
Modern financial advisor sales coaching services also integrate technology and data-driven approaches to amplify results. From leveraging CRM tools to track client interactions to utilizing analytics for identifying sales opportunities, coaching programs equip advisors with the skills needed to thrive in a digital-first market. Moreover, role-playing scenarios, peer feedback, and actionable insights from industry experts create a holistic learning environment. Firms that invest in these services position their advisors to deliver exceptional value, differentiate themselves from competitors, and achieve sustainable success.
How to pay your staff for business development as an RIA? What are the different compensation models for RIA’s for bringing in new business? What are the various comp structures for wealth management firms? Learn about salary, bonus on leads, bonus on activity, etc. This article explains it all!