It is a great time to be prospecting because so many investors are upset with their current advisor, confused about what to do, and facing big challenges. The good news is the dissatisfaction and confusion is making it easier for advisors to secure appointments with prospects.\u00a0 The bad news is that investors are less trusting and many are afraid to make a decision.\u00a0 The result is a longer selling cycle.<\/p>\n
To capture this opportunity requires a two part strategy in your prospect meetings.\u00a0 The first step is to build trust.\u00a0 They will not hear your message until they feel you are trustworthy. It is important to analyze your prospecting process and make sure you have several trust building components.\u00a0 Examine the depth and length of time you spend getting to know them as people before you move into the financial issues. Pay attention to how you position your experience and your approach, the warmth and tone of your prospecting meetings, and your closing process.\u00a0 Make sure you draw out all their concerns and address them. Remove all doubts about you and your firm.<\/p>\n
The second part is to provide a compelling reason for people to make the change and start working with you immediately.\u00a0\u00a0 Your compelling reason must be personally relevant to the prospect to have credibility.\u00a0 This could be an impending event in the client\u2019s life or in the markets.\u00a0 They must feel that it’s the compelling reason that is pulling them, not you pushing them.\u00a0\u00a0 Think soft touch, hard reason.\u00a0\u00a0 It is a delicate balance which requires executing the strategies in the right sequence.<\/p>\n