John Dashfield is a coach, mentor and writer specialising in the financial services sector. He is also the author of The Client-centred Financial Adviser.
John started out as a pensions technical adviser at an international life company. After speaking regularly to many advisers he was inspired to join them and became a self-employed adviser in 1991, and set up his own practice a few years later.
Being a powerful influencer is a vital aspect of your role with clients.
In the first part of our series on selling your advice service with integrity, we Iooked at some common symptoms of feeling under pressure and what is really behind clients having a great experience of you.
Picking up where we left off, another symptom of feeling under pressure when meeting with clients or when trying to win business is neediness.
If you want to build a thriving practice based on getting great results for your clients, confidently selling your services and being an effective influencer are essential skills.
Yet it seems many advisers lack confidence or struggle with selling their services far more than necessary.
For example, they may feel under pressure, fear rejection or lack the kind of soft skills required to go beyond a purely transactional relationship.
You no doubt put a great deal of time and effort into creating precisely the right advice for your clients but this alone does not guarantee it will be accepted and followed.
If you are interested in how to get increased buy-in to your recommendations then the steps outlined in this article will help you in this process.
I am sure you have seen or heard the KISS acronym. There seems to be several definitions but they all mean the same thing – keep it short and simple. The idea is to avoid unnecessarily complicating something by having too much detail or too many parts.
“If you don’t like change, you’re going to like irrelevance even less.” General Eric Shinseki, Chief of Staff, U. S. Army
The primary function of a business is to create value and I would imagine that everyone would agree that it is vitally important that our clients experience the highest value possible from what we can do for them.
The degree of value experienced by the client will ultimately determine how much business they give you, how long they remain a client, the level of fees they are willing to pay and how many high-quality referrals you receive.
Just recently I had lunch with an adviser friend of mine and he revealed to me that despite becoming a certified financial planner five years ago, regularly attending meetings and events for planners and wanting to only offer a financial planning service, he is not actually doing it.
He said that he was still only doing product-based transactional business the same way he always had for 15-plus years.