If you're a financial advisor and don't have anybody to see, you're basically unemployed. But not everybody you meet is a fit for you. Therefore, not all suspects are going to make great prospects and in turn, great clients. You must identify the best potential clients when prospecting so you don't waste your valuable time.
When it comes to wealth management, your client's money can do two things: It can earn interest or buy stuff. The problem is that many clients have "lazy money" just sitting around waiting to be spent. Money gets "lazy" when it is not being used to do one of the two things it can do with respect to wealth management.
Tags: retirement strategies
A career as an independent financial professional is rewarding beyond comprehension in many ways. Effecting lives of the clients you touch in a positive way is spirit-raising. There’s nothing like standing by your clients’ side as they identify their challenges, acknowledge them, take ownership, and make a decision to take action with you as their guide.
Humans need a tribe. We are social animals, and most of us need to feel a part of something larger than us to feel OK. We need to know someone has our back. In return we’ll have theirs. As a unit we’ll be secure and succeed. We’ll overcome challenges and achieve great things.
What is the one big risk that Certificates of Deposit (CDs), fixed annuities, and fixed indexed annuities share? Interest-rate risk. For example, you could miss out on higher interest credited to your savings if current rates increase during the penalty period of the fixed interest-bearing vehicle of your choice.
Financial professionals should be using technology to help their clients faster and with more precision. Financial advisors and agents need these software programs to manage relationships, nurture prospects, and create financial plans. The following tools can improve your interactions with clients along with the effectiveness of your business.
Do you consider yourself to be a serious professional? Are you serious about the way you conduct business with your prospects and clients? When, where, and how you conduct your business speaks volumes to your ideal prospects.
You have decided that you're serious about your business, and your career in the financial services industry is not one you take lightly. You're going to stop making house calls and start meeting people in a professional office environment. You are choosing to control their experience and to make it memorable. Where do you start?
How many indexed annuities do you own? Your answer should be at least “one” if you are recommending them to others. My belief is if you are selling them, you should own them. If you don’t, you are not credible.
Whether traveling by train, plane, or cruise ship, you usually have a choice: Pay the fare for a coach ticket and receive the coach experience or spring for the first class ticket. There’s most likely an enhanced experience that comes with paying the premium price for a first class ticket. What is it worth to the purchaser of the ticket, and what does it really cost the carrier?
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This content is for informational and educational purposes only and is not designed, or intended, to be applicable to any person's individual circumstances. It should not be considered as investment advice, nor does it constitute a recommendation that anyone engage in (or refrain from) a particular course of action.