By Austyn Anthony Smith, Dip PFS In the last five years, I’ve created a business that gets more referrals, is more profitable, and where clients are happier because we have a community and a sense of connection. It starts with the clarity of your message, and by explaining what you do in words that are different from other financial advisors. Some of these words come from a rediscovery process where you ask clients at the end of each meeting why they work with you. What makes you different? This rediscovery process started a couple of years ago, when I told my staff, “After every meeting, we ..read more

By Surojit Kala, CIC, FSS While hard skills are necessary to keep the business running, soft skills enhance business opportunities. Our profession is mostly about interacting and coordinating with clients and prospects. As a result, financial advisors must master soft skills to guide and gain the trust of clients and prospects, and thus run their business efficiently and profitably. What are the top three soft skills? Communication: It might sound very simple, but communication drives smooth client conversations, and it helps a lot in influencing and negotiating with the client. Time managem ..read more

By Matt Pais, MDRT Content Specialist There are many different strategies to establishing a relationship with clients during their first meeting. Kobus Kleyn, CFP, a nine-year MDRT member from Gauteng, South Africa, uses that time to “set the stage” about the advisor’s role as someone who will be there for specialized expertise. “One of the examples I use that works very well is to state the difference between a doctor and a specialist,” he said. “I really try to recognize that the doctor’s the GP. He sees you, he diagnoses you and he gives you some medication, and next year you’re back with ..read more

By Michael DePilla, MDRT In-Language Content Strategist Try these Round the Table ideas to motivate your clients to take action and invest in a more financially secure future. A simple budget Younger clients generally don’t think they have enough money available to save for retirement or spend on insurance, as money is generally tighter for a young family. We created a straightforward, traditional budget template that I share during my first meeting to get them to start thinking about what is coming in and going out on a monthly basis. It is surprising to see the number of clients who find ou ..read more

By Matt Pais, MDRT Content Specialist Finding time for everything you want to do is often easier said than done. During a recording of the MDRT Podcast, two MDRT Foundation supporters explained how they align their schedule with their priorities:  Ted Rusinoff: Elaine was asked to do a pretty big thing back in the U.K.: to be a professor at a university in a program. And she said, “I don’t have time for it, just like a lot of things in life. But when it’s important, you just say yes, and you find a way to make the time.” Most of us aren’t sitting around with an extra two or thr ..read more

By Bryce Sanders Financial advisors might consider continuing education requirements a necessary evil of the profession that interrupts a busy schedule. Yet, CE requirements also can be viewed as a tool that leads to more business. Here’s how: 1. An additional professional certification. A financial advisor in California felt being out of the office at training was a cause for apology for not getting a client’s call or returning it as quickly as he normally would. Business opportunity: He explained to clients that he was attending classes to earn an additional professional certification. Clie ..read more

By Yeoh Tan Fung Jenny, RFP Explaining critical illness insurance plans to our potential clients can be challenging. Policies can cover 36 to 60 different illnesses — each individually defined — and we can lose confidence in the complexity. A critical illness diagnosis does not mean clients will get a successful claim — the specific definition must be met. If we as financial advisors don’t understand the definitions, our clients will not confidently buy from us. Additionally, discussing illnesses that could be life altering for our clients can be sensitive. I created the CI info cube to help ..read more

By Jason V. Barger Did you know that in the U.S. 7.6 million people quit their jobs in the months of April and May of 2021? Reports of loneliness at work are as high as ever. Divorce rates are up 34% from last year. To say people have been a little stressed would be an understatement. Let’s dig a little deeper into what the research is also telling us. Nine out of every 10 employees say they want to work for a more meaningful culture. People want to feel like they are a part of something bigger than themselves. They want to feel appreciated, valued and cared for. In the midst of so much angst ..read more

By Janet N. Ng, FChFP, CEPP One of the many challenges of being a financial advisor is getting referred leads. More often than not, we get nothing if we ask for names point-blank. So, how do we ask for referrals in a subtle way and get positive results? Here are a couple of ideas you can use, regardless of your specialization, so you don’t have to deal with the usual awkwardness of waiting for names and contact details. Whatever your niche market is, whoever the people are in your target market, know that people like to be lifted up. Try this dialogue with your client after you’ve closed busi ..read more

By Michele E. Gervais, BA  Mindset is the No. 1 differentiator for driven, accomplished advisors. How you think and show up in the world has a profound impact on your business results, your quality of life and the engagement of everyone around you.  Your mindscape is the mental landscape where your beliefs, assumptions and thinking patterns roam and dictate your behavioral choices. How you think shows up in real life as an observable, measurable set of behaviors. This means you can learn how to think in a specific way, teach others to do likewise and embed these same ..read more