Sales Training >> Financial Services
Perhaps the most phenomenal contribution of consumerism in the late 20th
century has come from the baby boomer generation. Never in the history of the U.S.
economy has one generation played such an instrumental role in reshaping the
way in which goods and services are delivered and received.
As the baby boomer generation enters into retirement mode, the financial services
industry is on the verge of expanding its reservoir and maintain that base for a
good twenty years. Since the majority of baby boomer wealth is earmarked for
asset allocation, financial advisors would remiss to prepare accordingly.
Investment management firms, in particular, have tailored a suite of
products/services that will appeal to a vast range of baby boomer investors. In
doing so, it is not only incumbent upon advisors to learn new these products, but
also how to be communicate the merits of them.
Just as fund managers and financial advisors learn to ways to understand the
added value proposition of their services, so too are baby boomers discovering
unfamiliar territory as they transition into retirement. It’s not enough for clients to
understand their options. Advisors must equally understand their clients’
circumstances, as well as how to convey that understanding.
The most successful financial advisors are those who transcend the conventional
script reading and build a strategic lexicon of messages. There are core
techniques and messages that will consistently work for most advisors, and they
must be fostered accordingly. But the unique dynamics come from how well
advisors understand themselves, as well as their customers.
The best way to reach the proverbial “next level” in this industry is to put financial
advisors and executives in a position to see themselves perform and listen to the
candid reactions of their customers. This eye-opening experience can not only
provide a benchmark for internal training, but it will also allow advisors to
consciously adapt to their circumstances.
And by having this newfound awareness of what prospective clients are actually
thinking and feeling (from every unique sales message), financial advisors can
deliver on the clients’ expectations (during the consultation process), increase
productivity and convert more business. With an investor pool that can only
expand in the next quarter century, the financial services industry now has a
surefire way to develop more effective advisors and serve more satisfied clients.
Perhaps the most phenomenal contribution of consumerism in the late 20th
century has come from the baby boomer generation. Never in the history of the U.S.
economy has one generation played such an instrumental role in reshaping the
way in which goods and services are delivered and received.
As the baby boomer generation enters into retirement mode, the financial services
industry is on the verge of expanding its reservoir and maintain that base for a
good twenty years. Since the majority of baby boomer wealth is earmarked for
asset allocation, financial advisors would remiss to prepare accordingly.
Investment management firms, in particular, have tailored a suite of
products/services that will appeal to a vast range of baby boomer investors. In
doing so, it is not only incumbent upon advisors to learn new these products, but
also how to be communicate the merits of them.
Just as fund managers and financial advisors learn to ways to understand the
added value proposition of their services, so too are baby boomers discovering
unfamiliar territory as they transition into retirement. It’s not enough for clients to
understand their options. Advisors must equally understand their clients’
circumstances, as well as how to convey that understanding.
The most successful financial advisors are those who transcend the conventional
script reading and build a strategic lexicon of messages. There are core
techniques and messages that will consistently work for most advisors, and they
must be fostered accordingly. But the unique dynamics come from how well
advisors understand themselves, as well as their customers.
The best way to reach the proverbial “next level” in this industry is to put financial
advisors and executives in a position to see themselves perform and listen to the
candid reactions of their customers. This eye-opening experience can not only
provide a benchmark for internal training, but it will also allow advisors to
consciously adapt to their circumstances.
And by having this newfound awareness of what prospective clients are actually
thinking and feeling (from every unique sales message), financial advisors can
deliver on the clients’ expectations (during the consultation process), increase
productivity and convert more business. With an investor pool that can only
expand in the next quarter century, the financial services industry now has a
surefire way to develop more effective advisors and serve more satisfied clients.
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Financial Services
