Ok. I assume the others have more experience?

When I first started I found some experienced and guys tried to get them to split business with me. For this, I did the small stuff that they didn't want to do. Sometimes it was paperwork, sometimes it servicing the account. This makes you familliar with the processes and you tend to learn faster by dealing with real scenarios. Why is this stuff important, because it builds confidence. You have to be confident in what you are advising. It is a slow process but worth it once you figure it out. My suggesting is to become the expert on something. That way when there are questions about that topic you are the go to guy.

In my opinion, in our business clients don't want to be sold. We are not selling bananas or cars. They want to be advised and you want to be seen as an advisor. I think this is one of the main reasons we are seeing a shift form commissionable sales to fee based advising. I am sure others are going to scoff at this, but this is the way I see it. Good luck.

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Posted by wasteland

City of peace

Member since Apr 2011

5600 posts

Posted on 11/6/14 at 4:16 pm to Janky

Janky, how long have you been an advisor? Whats your focus/expertise?

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Posted by Janky

Team Primo

Member since Jun 2011

35957 posts

Posted on 11/6/14 at 4:29 pm to wasteland

Almost 14 years. I started with a planning firm that was owned by one of the large insurance companies so I learned alot about insurance (don't really sell it now) and annuities (don't really sell them now). I am now at an asset management firm. Now, anytime a prospect comes in and they have an existing annuity I am the go to guy. I am in the meetings explaining what they have and whether or not it is worth a shite. Sometimes it is, sometimes it is not.

This post was edited on 11/6/14 at 4:30 pm

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Posted by hungryone

river parishes

Member since Sep 2010

11987 posts

Posted on 11/7/14 at 9:07 am to Janky

Re: reading, I didn't mean about your industry or wealth mgmt. I meant read to become broadly knowledgeable about "stuff"....the state of the local economy, the NY times best sellers list, art openings, whatever it is your clients are into. You don't want to be an expert on that stuff....you just don't want to come off as a one dimensional, all business shill. Be able to ask intelligent questions about their priorities, hobbies, and interests....whether it's show jumping/three day eventing, their philanthropic causes, or their alma mater(s). Pay attention to their answers, keep decent records on this stuff.

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Posted by redfish99

B.R.

Member since Aug 2007

16440 posts

Posted on 11/7/14 at 1:24 pm to Cmlsu5618

My greatest success have come when selling a product I really believe in. Sounds simple but I think your delivery is more effective if you truly believe it's the leader in its. category. Persistence and follow up can never be talked about enough. Knowing when to move on to another customer will save you valuable time and effort. Some calls you will never close due to circumstances you can't control. Pay attention, Listen to customer, sell your good customers more items. And last of all "Don't be afraid to ask for the Business "

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