Build Loyalty Before Your Clients Shop for a New Advisor

    posted in Client Relationships Jan 5, 2021


    Most of the time, financial advisors have inertia on their side.

    In general, people resist change for its own sake, and clients aren’t actively looking to leave their advisor — unless their advisor gives them a reason to look elsewhere.

    So it might not seem like there is much to worry about. But consider the time, effort and investment that goes into prospecting and marketing for new financial advisor clients. Prospect inquiries are down significantly since the start of the pandemic, and in-person marketing and outreach is complicated by potential public health risks.1

    And when you consider the value of referrals from satisfied clients, it’s easy to see why it’s more important than ever to nurture the client relationships you already have today, and show those clients the ways you make a difference in their lives.

    Read More

    Year in Review — Financial Advisor Takeaways from 2020

    posted in Client Relationships Dec 1, 2020


    In 2020, the coronavirus pandemic upended nearly every facet of life as we knew it and continues to take its toll. Add to that the political divides, regional unrest and global tensions, and it’s easy to see why markets experienced unprecedented volatility and many investors felt uneasy.

    When looking back at the year 2020, some may say, “Good riddance!” It was certainly a disconcerting year, to say the least, and there are still many challenges ahead. As we look back, however, it’s not all gloom and doom. In addition to the challenges, there were some bright spots and there are opportunities as we move ahead.

    Here are our top 2020 takeaways and related stories for financial advisors and their clients.

    Read More

    Focus On Core Values to Achieve Your Goals

    posted in Client Relationships Nov 10, 2020


    Most financial advisors thrive on the feeling of success that comes from guiding a client through discomfort, helping them stay rational and true to their values as they achieve their goals. Many advisors are also well-acquainted with that visceral feeling of failure and discouragement that comes when a client’s stress or fear of uncertainty affects their decision-making, disrupts their progress and leads them off track.

    Read More

    How Advisors Can Engage Risk-Averse Investors

    posted in Client Relationships, Risk Control Oct 27, 2020


    Meet Steve and Beth. After the economic collapse of 2008–2009, they couldn’t stomach seeing the financial markets plummet, taking their hard-earned money with it. So they called their advisor, withdrew from the market and cut their losses, vowing never to return. Whenever their advisor tried touching base, he was met with a cold shoulder.

    As the economy regained steam, Steve and Beth watched from the sidelines as markets climbed to new, all-time highs. They knew they were missing out on potential gains and wondered if they should consider risking the market again. “Hey Beth, maybe we should contact our old advisor.”

    And then the pandemic hit.

    Read More

    Why Advisors Need Behavioral Finance as Much As Clients

    posted in Client Relationships, News & Press Oct 6, 2020


    If you’re like many financial advisors, you might have studied economics and gotten a business, finance or accounting degree. Or maybe you’re just naturally analytical and have always been good with numbers. Make no mistake, those attributes are definitely a good thing when it comes to managing your clients’ money.

    Read More

    Protect Clients' Financial Security Against Cyber Threats

    posted in Client Relationships Sep 15, 2020


    You’ve had many conversations with clients about their financial security, but have you talked about the potentially devastating implications of failing to consider cybersecurity?

    The numbers are alarming. So far in 2020 alone, there have been 540 reported data breaches, affecting more than 163 million individuals. While massive, there were actually 33% fewer data breaches in the first half of 2020 compared to the same time period in 2019, and the number of people impacted dropped by 66% overall.1

    But individuals shouldn’t take the drop in numbers as a sign that all is well.

    Read More

    Connect Better With Millennial Clients

    posted in Client Relationships Jul 14, 2020

    With each generation comes a new attitude toward investing and, for many, greater worries about their financial futures and how their retirements will be funded. Recent events have only heightened anxieties for many.

    Millennials have been subjected to a variety of negative commentaries and stereotypes in recent years regarding their attitudes toward finances and investing, but there’s conflicting opinions on how well they’re preparing for the future.

    Read More

    EQ Over IQ

    posted in Client Relationships Jun 30, 2020

    Our world is experiencing disruption in ways it never has before. Within a matter of weeks, our entire country practically came to a standstill, global markets went on a tailspin, millions filed for unemployment and consumer spending plummeted.

    It’s difficult to know how to navigate today’s landscape when things change on a daily basis. But how you as a financial advisor choose to respond may be the difference between thriving, or just surviving, on the other side of this or any other crisis.

    Read More

    June is National Annuities Awareness Month

    posted in Client Relationships, News & Press Jun 23, 2020


    National Annuity Awareness month is a great time to introduce and discuss the overall benefits of annuities to your clients.

    Read More

    Overcoming Prospect Objections: 5 Conversational Tips

    posted in Client Relationships Jun 9, 2020

    Yes, we’ve all had a similar uncomfortable social exchange at an event.

    “Hi, I’m Steve. I’m a financial advisor.”

    “Nice to meet you, Steve. I already have an advisor.”

    So, what do you say next? You could mention that the shrimp cocktail is delicious and simply move on. But, “I already have an advisor” doesn’t necessarily mean you need to change the subject. It’s possible to continue the conversation without coming off as pushy.

    In fact, one of the best responses is to take a proactive approach and be ready for any objections. Stay one step ahead of your prospect by using these tips.

    Read More