Talking to your best clients one on one is easy. Talking to a
group of your best clients seems daunting for some financial advisors. This is
the reason why most financial advisors don’t have an advisory board of
directors. Elite financial advisors know that feedback is critical to their
success and 85% of financial advisors don’t ask for feedback. The 15% elite
advisors that do ask for feedback earn on average 52% more than the average
advisor. (source Business Health 2016 Pty Ltd, the value of practice management)
If you are average and want to improve this year start with feedback.
How Do You Do Feedback Online?
Simply draft up a few questions and add feedback to your client's
agenda. Ask things like how has our communication been since the pandemic
started? How can we improve our communications? What would you like to hear
from us now? How often? The list of questions is easy, but the one question
should be, “if I were to work with more people like you how would I connect
with them and how would I meet them?” Ask your clients for help is easy if you
have added value to their lives. They realize you are not asking for referrals,
but favorable introductions, such as join our webinar.
The Easiest Question to Ask
If you have an upcoming webinar, ask your clients this question:
“can I ask you a favour? I am hosting a webinar on ____ and I would love it if
you could join. Can you also forward the email to one person you know who would
benefit hearing about _____ right now? Would that be ok to ask you to do that
for me?" I ask financial advisors on my webinars that question, and they
always answer, YES. Now go ask your clients.
Plan a Webinar With Your Ideal Clients
You can call your top 30-50 clients (or couples) again and make 50
phone calls, or have a webinar with all 50 of them in 30 minutes, what is the
best use of your time? I am seeing tremendous success with financial advisors
who invite a select group of clients and centers of influence and ask them by
email or phone to forward to a friend. This is how they are building their
database of prospects for 2020. How are you building your database of
prospects?
Webinar Content
The webinar is about the feedback you are getting from your
clients. It is also about your new offerings. This is a perfect time to
introduce new value-added services you plan to deliver in the future. Clients
get excited about this as they see creativity. Financial advisors discuss what
their clients will receive at their next update meeting. This can range from
goals-based planning discussions, as people's goals have changed during the
pandemic. It can also include how you will offer to get organized in all 7
areas of their financial life. Tax, estate, risk, investments, insurance, debt,
and cash flow. It can be new opportunities you see on the horizon, and how to
avoid missing key opportunities. The wealthy hate missing out on opportunities.
It can also be a new way to approach your meeting process, new team members, or
a new way you plan to go forward with meetings.
Share Your Feedback
If you have done feedback with your best clients, then share it
during a webinar. This would be valuable for your clients to hear. I only see
the elite, the top 15% of advisors doing this. Start today with feedback. Then
plan to deliver more value than ever before. I truly believe “ The more value
you give the more valuable you become”. If you want to raise your fees, raise
your revenue, deliver more value! Then it is easier to acquire more ideal
clients. That is what practice management is all about. How are you going to
deliver more value to your client this fall? How will you communicate it?
One Example of More Value – Your Estate Planning Checklist
Tom Deans Ph.D. is a full-time professional speaker and the author
of Willing Wisdom: 7 Questions
Successful Families Ask. The Willing Wisdom Index takes 5 minutes
to show you a probability of success in reaching your estate goals.
- Click
here http://tinyurl.com/yxnvxcda
- Watch
the video on The Willing Wisdom Index and estate planning
https://www.youtube.com/watch?time_continue=4&v=RO2Js-7NONM&feature=emb_logo or
click here https://bit.ly/3gzEy1u
Complete your own confidential estate planning checklist or learn more by clicking here http://tinyurl.com/yxnvxcda
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