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Ask for referrals word on a book. Business success concept

Why Financial Advisors should Ask for Referrals

Why Financial Advisors Should Ask for Referrals

Why Financial Advisors should ask for referrals?  Very simply – if you are a good financial advisor you have earned it.  Financial Advisors have a great advantage over other sales people when it comes to asking for referrals.  Sales people who are selling other products or services typically don’t have the opportunity to positively impact the lives of their clients and their client’s families the way that financial advisors do.

Building a larger client base should be a goal of every professional. Across every industry, referrals are the easiest and most cost-effective way to generate new business. However, if you are like many individuals, you may feel awkward asking your current clients for referrals. Figuring out the right way to request a referral will help you increase your reach.

Are you asking for referrals? If the answer is “no,” then you need to start asking yourself, “why not?”

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Practice Closes Sales

Practice Closes Sales

Practice Closes Sales

Practice Closes Sales.  While you have no doubt heard practice makes perfect – perfection doesn’t close deals.  Sales is one of the few professions where your performance is measured every day on every deal.  So wouldn’t it make sense to practice?

The idea of practicing came from an unlikely source.  My son’s basketball league put out an email with a desperate request for coaches.  Since I never coached basketball before I politely ignored the 1st request.  Then came the 2nd request and I figured I would offer to help.

This was my 1st ever endeavor into coaching a sports team.  So being a new coach I did what all dads with no experience would do.  I went to YouTube to look up drills for youth basketball.  Then after our 2nd practice I realized how important drills and repetition are in learning and mastering a skill. While practice is certainly not a new idea, a light went off.

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Financial Advisor’s Greatest Asset

Financial Advisor’s Greatest Asset

Financial Advisor’s Greatest Asset

Financial Advisors may argue the point, but it is their Book of Business that is every Financial Advisor’s Greatest Asset.  What is a Book of Business?  In its most basic form a Book of Business is your client list.

One of the 1st and most common mistakes a Financial Advisor can make is not segmenting their book into A, B, and C clients.  Meaning your most valuable clients are your A’s, than down to your B’s and C’s. It sounds pretty simple, right?  Well it is.  While the definition is simple the value can be priceless if you do it right.

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The Thrill of Victory

The Thrill of Victory

The Thrill of Victory and the Agony of Defeat

If you are over the age of 40, you can appreciate the following quote made famous by Jim McKay from ABC’s Wide World of Sports, “The thrill of victory and the agony of defeat.”

Those powerful words from Jim McKay were used to describe the human drama of athletic competition.  Whether you are a big sports fan or not, you can appreciate the real life drama of: Ali vs. Liston, the Olympics and Game 7 of the World Series.  The Thrill of Victory and the Agony of Defeat also beautifully describes what it means to be a sales-professional.

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