Recently, an advisor in the audience at one of my sessions asked this question, “What is the single biggest mistake advisors make when trying to convert a prospect into a client?” Here are some examples of communication bloopers that create barriers to sales.
Here’s the breakthrough exercise that immediately improved my emotional connections with others. It is something every advisor can adopt.
Don’t use any advisor who isn’t a “fiduciary.” All registered investment advisors are required by law to be fiduciaries. Brokers are not. Here’s an easy litmus test.
Advisors are often disappointed when I tell them what drives a favorable outcome. They want it to be “qualifications” and “expertise.” It isn’t. It’s likeability.
Do you believe you should be charming, engaging and, above all, interesting with your prospects and clients? Shift your focus from being the most interesting person to becoming the most interested one.
For most investors, it makes no sense to own individual stocks. Yet, the lure of picking the next big “winner, causes many investors to be easily seduced by the call from their broker. It’s an analyst scam.