Sales Training and Coaching for Financial Advisors
The lifeblood of a financial advisory firm is getting new clients in order for the business to sustain itself, especially if the demographic of your client base is aging, taking withdrawals, or outright passing away at an accelerating rate.
For those who truly do want to grow – at least enough to offset aging client attrition – many prospecting and marketing methods have been tried, tested, and trained around, yet it’s been quite difficult putting a pulse on a systematic approach for growth in the 21st century. Unlike the old days when cold calling was the go-to method for most advisors to grow, or simply passively waiting for client referrals to come to you, there doesn’t seem to be a clear path to a reasonable “Cost of Acquisition” for finding and getting a new client to sign on with the firm.
So, as an ambitious financial advisor looking to grow your practice, you’ve bought books about selling, learned about marketing campaigns from experts, listened to a plethora of interviews, sought advice from fast-growing advisors, and attended master classes at workshops and conferences. You’ve been given scripts on how to “ask for referrals” to get more introductions from your clients.
But how can these methods possibly compete with the advisor you met at the latest financial planning conference who goes to networking events twice a week and mingles until 10 pm, coming back with a bunch of business cards and connections? Or the advisor who has cultivated an entire repeatable system of conducting seminars, and can tell you exactly how many leads, prospects, and clients are converted in every activity step along the way? Or the advisor who has developed a popular blog or podcast that already has a tremendous readership or listenership and is driving new clients with every article and recording?
Most advisors have tried some version of these approaches along the way, but usually with very limited results at best. Which makes them unappealing to try again. Yet the reason for your resistance to, and the “watered down” results of, any of the above methods is the lack of clarity on which advisor personality type each one is best suited for in the first place.
Despite the importance of sales skills, and learning how to bring in business, most sales training and advice given to advisors these days seeks to convert and mold them into a stereotypical extroverted “salesperson,” a traditional StrengthFinder “Woo” type who is a serial mingler with lots of connections, can strike up a conversation with just about anyone, chit chat with hundreds of people, and be the last one to leave a conference.
In turn, that’s who we assume we need to be (or as a firm owner, who we need to hire). Accordingly, most advice and sales training assumes a “one size fits all” approach can make an impact, as long as all the introverts convert into extroverted networkers, extroverts into systematized activity-trackers and bloggers, and everyone into social media prodigies.
The problem with such advice and sales training is that it looks to change financial planning professionals into someone they are not, which can waste their time and talent, and can be inauthentic to the base of prospective clients they’re trying to reach anyway.
For example, many sales training and coaching programs out there look to completely reconfigure the natural style of our introverted professionals, asking them to wine and dine prospective investors to want to do business with their wealth management firm. By requesting this from some of our most insightful problem solvers, we are basically asking them to fake themselves into a different persona if they want to have any hopes of growing a practice, stepping up into leadership roles, or doing anything besides client service.
As studied by my colleague and one of our coaches Heidi Brown, even if you look at personalities from a scientific perspective, you will see our industry’s sales training approach needs to be different. Introverts and extroverts actually use two different neurological pathways when they process information. Introverts use a long pathway when get asked a question, and it takes them a while because they go into the brain and edit ourselves and vet theories. Extroverts use a much shorter pathway to respond. Even that research alone can show us that teaching people to go to conferences and come back with business cards (or to ask clients for referrals) utterly fails to recognize the importance of different personality types across financial planning professionals.
There is a better and much more efficient solution around business development training, one which can be more of a downhill rather than an upward climbing battle! This solution, in our opinion, is to identify and then embrace your existing personality, even as an introverted or shy professional, and own it.
Then, and only then, find sales training and coaching that is specifically designed around your personality type, not despite it. Learn marketing and sales strategies that work best with your specific DNA, not ones that underestimate your innate skills and ask you to go against them.
One of the critical components of a top sales training program for RIAs and wealth managers is being able to find money in motion and source HNW prospects. Other components include the experience of the coach working with your target audience, the connection and respect you feel for the coach, and their own approach to selling their program. If you are satisfied with all those components, you will be very happy with the sales training program.
Elevate your online presence and attract high-quality leads as a top financial advisor with Select Advisors Institute. Discover the power of SEO strategies tailored for financial services and position yourself for success in the competitive digital landscape. Partner with industry experts to optimize your visibility, drive organic traffic, and establish credibility among your target audience. Unlock the potential of SEO with Select Advisors Institute as your trusted marketing agency.
The decision to outsource a specialized CMO emerges as a strategic imperative for wealth management firms aiming to carve a distinctive identity in the market and cultivate enduring relationships with high-value clients. This approach not only unleashes the full potential of marketing initiatives but also allows firms to channel their resources into areas critical for sustained growth and success. Learn about the importance of a fractional CMO for financial advisors and outsourced chief marketing officer and business coach for financial firms.
Learn about our services, from branding to firm naming, website design, coding, SEO, social media and content development. Learn how our financial advisor marketing agency can help you with your long term lead generation strategy.
Select Advisors Institute equips financial professionals with the expertise and tools needed to navigate the digital landscape effectively and identify clients ready to put their "money in motion." By implementing their strategies and insights, financial advisors can drive growth, increase AUM, boost sales solutions, and enhance branding for financial firms, ultimately identifying and capitalizing on potential clients in motion.
More than half of the world currently uses social media (62.3%). 5.04 billion people around the world now use social media, with 266 million new users coming online within the last year.What’s more: The average daily time spent using social media is 2h 23m! How can financial firms leverage social media for branding, client acquisition, business development and marketing? Which social media is best for financial firms? Linkedin or Facebook? What is the best social media content strategy for financial firms, especially with so much compliance and regulations?
Select Advisors Institute equips financial professionals with the expertise and tools needed to navigate the digital landscape effectively and identify clients ready to put their "money in motion." By implementing their strategies and insights, financial advisors can drive growth, increase AUM, boost sales solutions, and enhance branding for financial firms, ultimately identifying and capitalizing on potential clients in motion.
Business coaching for financial advisors and wealth management firms offers benefits such as business plan development, time efficiency, growth facilitation, regulatory guidance, process implementation, and marketing strategy refinement. Tailored coaching programs focus on business analysis, custom solutions, proven strategies, experienced coaches, and ongoing support to ensure progress and goal achievement.
Personalized Websites and Targeted Digital Marketing Solutions are the most critical components of great growth for financial advisory firms, particularly as they allow great SEO for financial firms. Select Advisors Institutes’ outsourced and fractional CMO services for investment advisors, lawyers and financial firms builds beautiful, custom developed websites you can be proud to show off, as well as reap the rewards of their search engine optimization!
More than half of the world currently uses social media (62.3%). 5.04 billion people around the world now use social media, with 266 million new users coming online within the last year.What’s more: The average daily time spent using social media is 2h 23m! So how can financial advisors and financial planners maximize their social media marketing strategy so they can better engage with their clients and find new prospects? This article goes into some strategies and methods!
Executive coaching is a strategic investment in the dynamic world of finance and investments. By enhancing leadership skills, fostering emotional intelligence, navigating regulatory complexities, accelerating career growth, and nurturing innovation, coaching plays a pivotal role in shaping the future of the financial services industry. Those who leverage the power of executive coaching will lead, adapt, and thrive in an evolving industry landscape.
What are the advantages of an outsourced CMO (chief marketing officer) for branding and social media content for financial, legal, accounting firms? What are the pros and cons? Can an outsourced CMO bring in new clients to the firm? How much does a fractional or outsourced CMO cost? What’s the going rate salary for a financial services CMO? Contact us to learn all of these?
You may know your sales skills need brushing up, but a book on sales isn’t cutting it. The best strategy, in our opinion, is to partner with a sales coach who can build a customized, not cookie-cutter approach, to your personality. Whether you’re an introvert or an extrovert, whether your firm is a law firm focused on divorced, a CPA firm focused on the fashion industry, or a financial advisor focused on dentists, a top sales trainer and coach should be able to help you build accountability and metrics, closing skills, soft skills and more.
Looking to get in front of more clients, increase your revenue, refresh your brand and enhance your digital presence as a law firm? Look no further than Select Advisors and our outsourced and fractional CMO services for law firms. Our services include social media, video content and website design, and so much more as an outsourced CMO.
Looking to establish a strong marketing plan as a financial advisor or wealth manager? Select Advisors Institute, a top financial services marketing company, offers innovative strategies and actionable advice to enhance your online presence and attract potential clients. From digital marketing and automation to social media mastery and client engagement tactics, their expertise can help take your business to the next level.
Wealth management and financial services sales training and sales coaching, including closing strategies, lead generation, finding money in motion and more! Hire the best sales coach and sales trainer in the financial services industry and best sales training program for RIAs and financial services professionals.
Elevate your online presence and attract high-quality leads as a top financial advisor with Select Advisors Institute. Discover the power of SEO strategies tailored for financial services and position yourself for success in the competitive digital landscape. Partner with industry experts to optimize your visibility, drive organic traffic, and establish credibility among your target audience. Unlock the potential of SEO with Select Advisors Institute as your trusted marketing agency.
Credit unions can gain a strategic advantage by outsourcing marketing efforts to an investor-specific chief marketing officer. Select Advisors Institute offers tailored solutions, providing industry expertise, time and resource management, cost-effectiveness, comprehensive marketing support, and enhanced results. Contact us to elevate your credit union's brand and achieve sustainable growth
Who is the top financial services marketing company and what do they do for financial services? In this article we discuss what a top financial services marketing company, which we believe is Select Advisors Institute, should be able to do for its clients. It includes branding, website design, content writing for financial firms, video production, social media strategies and a lot more!
The decision to outsource a specialized CMO emerges as a strategic imperative for wealth management firms aiming to carve a distinctive identity in the market and cultivate enduring relationships with high-value clients. This approach not only unleashes the full potential of marketing initiatives but also allows firms to channel their resources into areas critical for sustained growth and success. Learn about the importance of a fractional CMO for financial advisors and outsourced chief marketing officer and business coach for financial firms.
Who is the top financial services marketing company and what do they do for financial services? In this article we discuss what a top financial services marketing company, which we believe is Select Advisors Institute, should be able to do for its clients. It includes branding, website design, content writing for financial firms, video production, social media strategies and a lot more!
Read our latest white paper published on the Michael Kitces website. Sales training programs should be designed around an advisor’s specific personality type. Learn about the three Consultative Sales Personalities our firm has identified, and specific strategies each of those personality types can employ to turn your unique challenges into business development advantages.
financial advisors should adopt a proactive approach to lead generation. By adopting modern strategies, leveraging technology, and prioritizing value-driven approaches, financial advisors can attract new clients, expand their client base, and thrive in an increasingly competitive industry. The key to success in lead generation is nurturing relationships, providing valuable insights, staying adaptable to industry changes, and building long-term relationships that drive long-term success for both advisors and their clients. By implementing a strategic and proactive approach to lead generation, financial advisors can position themselves for growth, profitability, and sustainability in a dynamic and ever-changing marketplace.
In this article we answer: Why we believe Select Advisors can be the #1 Financial Advisor Sales Training Program to consider. What is the top financial advisor sales training program and how can it help you create a culture shift. What is a sales culture and how can a financial advisor sales coach help my team create one?
The decision to outsource a specialized CMO emerges as a strategic imperative for wealth management firms aiming to carve a distinctive identity in the market and cultivate enduring relationships with high-value clients. This approach not only unleashes the full potential of marketing initiatives but also allows firms to channel their resources into areas critical for sustained growth and success.
What are the secrets to effective sales coaching and performance management? Learn with our comprehensive guide. Discover tailored approaches for prospecting, converting leads, and closing sales, while fostering a culture of continuous learning. Elevate your sales team's success with personalized coaching strategies that drive sustainable growth in today's dynamic marketplace.
Credit unions can gain a strategic advantage by outsourcing marketing efforts to an investor-specific chief marketing officer. Select Advisors Institute offers tailored solutions, providing industry expertise, time and resource management, cost-effectiveness, comprehensive marketing support, and enhanced results. Contact us to elevate your credit union's brand and achieve sustainable growth
In this article, we discuss the importance of leveraging social media as a financial advisor, highlighting the potential for reaching a vast client base and acquiring new clients through social media platforms. It also provides tips for creating impactful social media content, such as using polls, sharing quotes, storytelling, utilizing visual content, and engaging with live streams. The key point of defining a niche, maintaining an active social media presence, and considering outsourcing social media management is also stressed.
Understanding and highlighting the significance of social media marketing for financial advisors, the article delves into effective strategies to kickstart a successful social media campaign in the financial advisory field. Additionally, it outlines the crucial principles required to transform social media into a powerful generator of new leads.
Since 2014, Select Advisors has worked with financial advisors, bank executives, CPA and financial planners to help build personalized sales training programs for their teams and firms. Learn about our approach to sales training and sales coaching investment professionals.