Distraction-Proof® Advisor Ideas

AdvisorBlast – Quick Tips to Accelerate Your Practice

In this issue: Play hard to get.

Who’s in the driver’s seat when you’re prospecting? Often potential clients believe they are – and, as advisors, we act in ways to validate their belief. After all, they have the money we’d like to manage and the power to decide whether to use our services or not. We often respond by thinking that we need to impress and cajole them. But it shouldn’t be this way.

What if, from the beginning, you could be in the driver’s seat – with prospects trying to impress you so that you would choose them to be your client? Just like in dating, playing a little “hard to get” can make you more attractive.

Not Everyone Gets In

You want to work with clients who are a good match for your business model and, frankly, who you like. People who are not a good fit for you end up taking disproportionate amounts of your finite time, energy and emotion. Be polite and friendly, but from the beginning let prospects know that you are very selective about who you choose to work with because you want to ensure that your money management philosophy and way of doing business is a good fit with what they are looking for. And, if it is not, they would be better suited to working with another advisor.

Immediately you become more interesting to your prospect. If you aren’t instantaneously bending over backwards to impress them, you must not be desperate for business. You must have satisfied clients who are happy working with you. You must be great at what you do. Suddenly your prospect wants to be chosen by you.

Back to our dating scenario: Do you want to date and possibly marry the classy, beautiful, seemingly out-of-your-league person, or do you want to settle for the person who has been out with everyone?

Play hard to get. Even if you’re inwardly drooling at the thought of making your prospect a client, stay cool and professional.

• Let prospects know you’d be pleased to meet with them and find out more about what they are looking for from an advisor to see if that matches your philosophy and practice.

• Tell them you’d be happy to review their present situation, but don’t promise you can take them on as a client because you work with only a select group and anyone new you take on must be a good fit for the way you do business.

• Advise prospects that you typically build your business by referral, so you work hard to ensure your clients receive a high level of service. Your aim is to leave them thrilled so that they become your greatest advocates. Therefore, you want to be sure that the type of service you offer is in line with what they are looking for.

As hard as it maybe to remain controlled when you have the opportunity to increase your assets, this approach will help you get the clients you really want to work with so you can use your time and energy to produce the most rewarding returns for you.

Happy prospecting,
Paul

Copyright Paul Kingsman 2011
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As a motivational speaker and executive coach, Paul Kingsman helps financial services professionals successfully grow their businesses by taking practical daily steps to achieve outstanding long-term results. Combining his experiences as an Olympic medalist and his background as an adviser, Paul understands how to stay focused over the long haul, as well as the unique business challenges faced by advisers. Through his professional speaking and executive coaching he equips them to overcome distractions so they can get the money they need, the clients they want, and the time to do what they love.

To find out more about how Paul can equip you or your team to achieve outstanding results, visit paulkingsman.com/coaching or email him at Paul@PaulKingsman.com

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