By James Morris, Suitability Specialist
How will I obtain new clients and prospects to grow my business? Am I running my practice in the most efficient manner? Is my business model sustainable? How can I help my customers reach their goals? As a financial professional (FP) and businessperson, these are important questions for you to consider. But if you are like many people, you may avoid asking yourself some of these questions because you simply don’t know the answer.
The business of marketing and sales is all about fear management. The fear of rejection from potential clients concerning the ideas you’ve presented. The fear of your business model failing and having to seek employment alternatives. And equally as important, managing your client’s fear that the sky is falling every time the stock market enters a period of volatility. The financial services business is certainly not for the faint of heart!
The good news is that you do not have to be afraid. Customers and potential customers look to their FP for reassurance and guidance to quell their fears. In fact, that is part of the value-add customers are looking for when they meet with an FP or seek financial advice. Often, customers are looking for the innate calm of a seasoned professional to guide them through the variety of available financial products. By being the voice of reason and experience, you help to reassure your customers that they are making the most informed decisions with their end goal in mind.
As an FP, you likely know all too well that customers and potential customers often procrastinate, to the point of inaction. This could be attributed to the customer’s fear of the unknown. As the FP, one of your many roles is to overcome that fear. By remaining calm and presenting solutions that can help your customers reach their goals, you help fight the customer’s flight instinct to shy away from addressing their financial circumstances.
In a similar way, you as the FP can manage your fear of asking your customer all of the relevant questions, including if they have additional needs to address and any other funds to consider for meeting those needs. Customers often have assets held in a variety of locations. By confidently assisting your customers manage their financial fear, you may be able to open further opportunities for both of you.
Helping customers overcome their financial fear and flight response through education by providing meaningful solutions can help everyone better reach their goals.
If you would like to discuss how Ann Arbor Annuity Exchange can help you reach your goals, please call me at 800.321.3924 x159.
James Morris | Suitability Specialist
Ph: 800.321.3924 x159 | Dir: 734.786.6159
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