Meet Amy Parvaneh, top sales coach and sales trainer to financial advisors and wealth management firms, helping you thrive around investor business development, closing skills and more client referrals!
Becoming a financial advisor can be a dynamic and rewarding journey, each individual's path varying based on their goals and aspirations.
Some are drawn to the prospect of building a business that can lead to substantial wealth over time, with reduced workload and recurring revenue streams.
Others thrive on the intricate financial aspects of the industry, relishing the opportunity to closely monitor markets, manage portfolios, and craft financial plans.
Whether you are part of a group of peers building a business or a seasoned veteran looking to expand your team, navigating the world of financial advising requires a strategic approach.
One key aspect to consider is selecting a sales training program that aligns with your team, client base, and long-term objectives.
Here, we delve into five types of sales training programs that are particularly beneficial for financial advisors.
Referralytics by Select Advisors helps financial advisors be more proactive in their approach for getting referrals
The Referralytics program offered by Select Advisors Institute aims to help financial advisors, accountants, consultants, and other service providers significantly expand the quantity and quality of referrals they receive from their existing business connections.
The program emphasizes using a proprietary research methodology to elicit specific information and guiding questions from contacts, which can help in creating more meaningful and consultative interactions, pinpointing potential referrals, and ultimately earning more referrals through preparation and focus.
The program also provides sample guiding questions, FAQs, and insights into how the information gleaned from the Referralytics data can assist in making meaningful connections and uncovering new referrals. Additionally, the program highlights the importance of understanding and leveraging specific insights around contacts' social circles, and indicates that every business connection will have unique information that can potentially lead to new referrals.
Overall, the Referralytics program focuses on providing tools and methodologies to assist financial professionals in proactively seeking and obtaining valuable referrals from their existing network, thereby aiding in business growth and market competitiveness.
Watch our Kitces interview about Referralytics!
Center of Influence Sales Training
The SAI COI (Center of Influence) program focuses on coaching financial advisors on how to effectively obtain more referrals from attorneys and CPAs (and vice versa). The program aims to teach financial advisors about articulating their value to referral sources, particularly in a service industry.
It also emphasizes the methods for acquiring more referrals from attorneys and vice versa, and delves into the types of attorneys who are likely to refer back. Additionally, the program provides insights on prospecting and networking in a virtual environment, possibly highlighting strategies for building and maintaining professional relationships in the digital age.
Moreover, the COI program includes practical guidance on collaborating with estate planning attorneys, understanding the mindset of attorneys who make referrals, and effectively positioning oneself to receive referrals. It may also cover topics such as marketing oneself and one's practice within the context of a digital world, suggesting strategies for expanding one's professional reach.
Watch our video interview with our very own coach and fast-growing estate planning attorney Eido Walny on how he likes to work with financial advisors.
For financial advisors who prefer a digital approach, the Select Advisors Digital Sales Training Program offers a comprehensive solution. Through this program, advisors can harness the power of digital tools such as cold outbound emails and LinkedIn outreach to connect with potential clients. By strategically leveraging digital platforms, advisors can expand their reach, engage with prospects, and convert leads into clients—all without leaving the comfort of their office. Our goal is to combine our Money in Motion directories and UHNW lists with coaching on how to develop meaningful relationships out of them.
4) Athletic-Based Sales Training Program
They say that competitive sports are 80-90% mental, the rest physical. By focusing on the mental component of sales, just like in athletic sports, we can help anyone become a fantastic sales person.
Most people who are advanced in sales did not grow up watching and learning about sales from their circle; instead, they first developed the INNER traits needed to do what’s needed to navigate their own journey in Sales.
Similar to an athlete, it’s most important to make anyone who wants to thrive in sales first focus on the mental component.
The Select Advisors Institute's Athletic-Based Sales Training Program focuses on applying athletic principles to enhance sales performance. The program draws parallels between improving in sports and achieving success in sales. It emphasizes the importance of internal motivation, self-benchmarking, maintaining consistency, and finding inner drive to propel sales professionals towards their goals. The program highlights actionable steps derived from athletic experiences to guide individuals in optimizing their sales activities effectively.
Consultative Sales Training
The Consultative Sales Program at Select Advisors Institute emphasizes a modern approach to sales that moves away from traditional, one-sided methods. The program recognizes the negative connotations associated with sales, such as the image of aggressive salespeople like Bud Fox from the movie "Wall Street." Instead of focusing on traditional sales tactics like cold-calling or pitching ideas over expensive dinners, the program encourages a consultative approach that prioritizes client counseling and tailored solutions.
Watch all our videos on Consultative Sales.
By shifting the focus to meeting prospects' needs on their terms, the program aims to redefine the relationship between financial advisors and clients, ultimately leading to more meaningful engagements and increased sales success in a competitive market landscape.
Selecting the right sales training program is crucial for financial advisors looking to enhance their skills, expand their client base, and achieve their long-term goals. Whether you choose to focus on referrals, centers of influence, digital outreach, networking, or wealth management, finding a program that aligns with your unique needs and aspirations is essential for success in the competitive world of financial advising.
By investing in comprehensive sales training programs, financial advisors can elevate their practice, attract new clients, and forge lasting relationships within the industry.
Discover how Amy Parvaneh, founder of Select Advisors, transforms marketing strategies for financial advisors and wealth managers. With a unique background as a Goldman Sachs wealth manager and expertise in luxury branding, investor psychology, and marketing compliance, Amy bridges the gap between marketing and sales to help financial firms attract and retain high-net-worth clients. Select Advisors offers outsourced CMO solutions, sales training, digital marketing, and family office strategies tailored for success. Trusted by nearly 1,000 firms and teams since 2014, Amy's proven approach ensures real results in growing your affluent client base.