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Weighing up the potential pros and cons of a momentous decision like switching to a new advisor is a complex ordeal for the person sitting in front of you.
But why is it so hard for them to make that decision?
Do or don’t do – proceed or don’t proceed... A decision to act is a simple binary choice that can be made in a split second.
So why is it such an ordeal for your prospect to make that simple choice about you? You’ve earned your designations, years of experience, solid book of business… How much more “proof” do they need?
What’s changed dramatically in the last few years in the advisor market is what I refer to as the increasing “wall of indecision.”
What may surprise you is that your ability to break through that wall starts with recognizing certain thought patterns you’ve been conditioned to use since the beginning of your career. You’ve probably heard the old adage: “What got you here won’t get you there.” That’s very relevant to what I’m about to share with you. Advisors know there’s a plethora of other advisors for their prospects to choose from.
And most likely, you’re one of the many advisors on their shopping list.
People shop for an advisor just like they do for any other purchase.
The advisory profession has been commoditized.
To combat this, advisors try to prove their credibility through education and information – believing that their solution or company brand will differentiate them.
It won’t, and that’s probably a truth you’ve been quietly aware of in recent years.
Front-loading the sales process with free consulting and added “value” only fuels the commoditization fire.
Think about it...
You give your time, energy and expertise away selflessly pre-sale, allowing your prospect to then take that “value” and bring it to their next advisor interview.
Your generosity of information encourages them to go away and “think about it,” rather than act about what you shared with them.
The elements you may be imparting in your sales process – education, solution-based ideas, relationship-building, consulting – only further add to their inability to be decisive with you. It’s odd that you’re a highly credentialed and trained expert, capable of giving them clarity on how you can help them… yet off they go, unsure about you.
When your prospect fails to hire you, it doesn’t mean they didn’t like you or doubted your expertise.
It means they didn’t trust you at a deep enough level, right there and then – on-the-spot.
Despite everything you provided to them, they left feeling uncertain about whether hiring you would result in getting their problem solved.
This is not an issue of your competence in question.
It’s an issue of a lack of deep trust.
Your prospect can only believe in your value as an advisor after you’ve solved their problem, not before.
But since their commitment to you is required for that to happen, attempting to convince them of your value before the sale only comes across as “selling.”
If your prospects aren’t hiring you at the rate you believe you deserve, chances are you’re still unconsciously using the old selling behaviors and habits you were taught in your early years.
Be open to a completely different approach, to challenge your own thinking and to break-away from what “got you here.”
To learn more about this novel and innovative trust-based approach, which finally breaks through the “wall of indecision,” order your complimentary book and consultation below.
Ari Galper is the world’s number one authority on trust-based selling and is the most sought-after high-net worth/lead generation expert for financial advisors. His newest book, “Trust In A Split Second” has become an instant best-seller among financial advisors worldwide – you can get a Free copy of Ari’s book here and, when you click the “YES” button in the order form, you’ll also receive a complimentary “plug up the holes” lead generation consultation. Ari has been featured in CEO Magazine, Forbes, INC Magazine and the Financial Review. He is considered a contrarian in the financial services industry and in his book, everything you learned about selling will be turned upside down. No more chasing, no pressure, no closing.
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Advisor Perspectives welcomes guest contributions. The views presented here do not necessarily represent those of Advisor Perspectives.
