Reflect n Grow

All of us are aware that there can be no business without clients. Yet, the biggest issue that stalls your growth is your inability to consistently acquire your best customers.

So, What are the real reasons that keep you away from our best customers?

Financial Advisors are responsible for not only acquisition but also serving their existing clients. As a result, many financial advisors find very little time to prospect. If you do not prospect, how can you expect to get new clients? 

Sometimes this can be an excuse as many financial advisors have a deep seated fear of rejection. If you are a seasoned financial advisor, you may have very little motivation to prospect. In some cases, there is no clear metric in place. 

If there is one thing common to every single financial advisor, it is lack of training on the most vital subject that can bring you all the success in your business.

This is where my course can be of great help to you.

The course is structured in a manner that can help you easily identify the key challenges that you need to address.

Section 1 deals with the foundation. Are you clear who is your ideal or best client? Here I introduce you to the concept of a single segment focus. As they say, there are riches in niches! Single segment focus is very different from a target market. For example, wealth managers commonly use the word HNI or High Net Worth Individuals to connote the target segment. But you know that HNIs can be small business owners, professionals or senior corporate executives. Your offering to each of these segments will not add the same value.  Hence identifying the single segment that you should focus on is the starting point for setting up a successful client acquisition strategy.

Not only you need to be clear about the customer segment that works for you, it is equally important that you have a standardised way to categorise your clients and prospects. ABC analysis is a popular way to do so. I have created a modified version of the ABC analysis that can help you gain more clarity on the ideal customers that you should focus on.

Section 2 deals with where you can find your  ideal prospects.

This is the heart of the program. 

In this section, I help you build the vital prospecting skills for success. 

First, you need to assess that you are spending adequate time that is necessary for prospecting. A simple time sheet can help you track your prospecting efforts.

Second, we work on building a list. Generally many define building a list as prospecting. This is far from the truth. You can build a list by cold calling (approaching strangers), affiliations (meeting people known to you or your business) or referrals (passive and active). Successful financial advisors rarely do cold calling. They focus on referrals and affiliations.

My personal favourite is "the active referral" technique. In passive referrals, you wait for your clients to give you leads. In active referrals, you succeed in getting leads by asking for them! The ability to gain clients through "active referrals" can be a game changer!

In this section, I also share with you a one page sheet that can help you track your prospecting efforts with ease. 

Section 3 deals with the issue of conversion ratios. Here I share with you an engagement strategy that can help you significantly improve your conversion ratios.

The best of the best sales people know that even with the best of sales skills, conversion rates will be in the range of 3% to 5%. So, it is equally important to find a way to engage with prospects who say "No" initially. 

This is where you need a solid way to keep engaged with your prospects. Here I help you create an engagement strategy that is easy to implement. 

If you reflect on your sales efforts, you will realise that all the calls that we do with our clients can be categorised as (a) Relationship calls (b) Value added calls and (c) Sales Nudge.

Successful Financial Advisors do more of relationship calls while the unsuccessful one do more sales nudges. All you need to do is change the ratio in favour of Relationship calls and value adds to engage in a better manner with your clients!

Bonus Section: Action Changes Things: 

I have also included a section on how you incorporate the learnings from this course into your day to day working. 

Even if you were to incorporate one idea from the course, it will have a huge impact on your growth.