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1. Show them two ideas that "have worked for your current clients" One - maybe use an Indexed annuity for NQ money and people that are 55+. They can't lose principal and use something that has a 5-7 year surrender. Second option use, an indexed CD or C share bond fund and keep in mind there are lots of ideas on this forum.2. You now have a client minimum. Say $100k. Hell make it $150k. That will weed out the waste of timers. Saying you'll take anything sounds like a good start but it is counter intuitive. No one wants to get in to the club that is free with no cover. Everyone wants to get in to an exclusive club. They can't tell if your club has 10 or 1000 people in it.3. Remember confidence when you are saying number one and two. Don't waiver, and practice in a mirror or have a mirror when you are talking on the phone.4. If they are still a piker 8 months later you have to decide whether they are really someone you want to work with.
Thanks a lot man, really appriciate it.
If you're new, find more people that are ready to do something.
I am new, I know that I got to find more clients who are ready to do something but I have to talk to each one of them to find out if they are ready to do something. So saying just find client who are ready to do something it what I am already doing.
Your story is not compelling enough if 60% are saying a polite no thanks. Time to be real with yourself and refine your approach. Find that friend that's brutally honest and pitch him
2 things that always work for me(new)1. I’ve gotten bold and deep with clients asking “what is it that’s holding you back?” And sometimes more assertive. 2. Tell you what, think about it and come back when you’re ready. Confidence, acting as if it’s no sweat off my back.
Try saying, let's go ahead and set up a time to meet, same time/day next week to address any questions or concerns you've come up with between now and then. I want to make sure you're making your final decision based on facts and not emotions. But you should really be addressing this from the first mtng.Tell them what to expect. (Ex: just so you know what to expect: we will meet between 2-3 times over a 2-3 week period. 1st mtng. Getting to know each other. 2nd mtng: going over the results of my analysis. From that point people do 1 of 3 things. You'll either tell me, let's move forward. You'll tell me no. Or you'll tell me you need to think about it. I'm committed to give you a free analysis. I want to ask you to commit something to me. If you say you need to think about it, I ask you to commit to coming in for your 3rd appointment, so we can address the questions & concerns you've come up with after you leave the 2nd mtng. I always want to make sure you're making your decisions based on accurate and true data...not emotions. This is what my clients pay me to do. Does that sound like something you can commit to? This way you save everyone time from going through the whole process, if they are just kicking the tires. You want to spend your time with people who are serious about their financial future. Hope this is helpful. J
I am in agreement with the Oppenheimer statement. You story isn't convincing enough. When I talk with my clients I educate them on their options and tell them to go home and sleep on it. I remind them that this is theie money and although I want to help educate and guide them, they have to feel comfortable. Don't SELL them anything. Provide them solutions to their investment needs. I agree with giving them choices so they feel they have ownership in their decision. I would use different options than the advisor previously listed.
The reality is when you are new in the business, sometimes prospects want to make sure you have staying power. There is a tremendous amount of turnover in our industry. So, don't take personal, stay in touch with them, respectfully, not pushy. They will start to come around. Nobody likes to be pushed.
“I’ll think about it”... that particular prospect left your office, and boarded the beback bus... follow up follow up follow up. Call with a new idea each time, call and say “oh, I wanted to tell you about...”
Thanks for all your feedback guys, this is helpful
Close... present two possible solutions and let them choose one and then say great I need your drivers license and it will take about five minutes to do up the paperwork ... continue talking as you do the paperwork....
Read a book on closing a sale. You are asking the wrong questions.