Why Me-First Sellers Finish Last

Greed rears its slick-haired head at four points in the client relationship:

1. During fact-finding: Advisors either do a sham assessment or none. The goal: To lay the groundwork for selling a product the advisor wants to sell versus one the client truly needs.
2. During solution design: Advisors recommend products they don't really believe in. Sadly, what they do believe in is whatever will give them the best comp now. Low-value/high-commission products hurt clients, but help advisor income.
3. During the close: Advisors respond to legitimate client objections with tired formulas and bullheaded bluster, thereby forcing prospects to buy something they wouldn't normally buy.
4. Finally, after the sale: Advisors abandon clients to pursue their next clients, ignoring the value of nurturing existing, long-term relationships.

So how to avoid the tragedy of me-first selling? Put the client first. Here are some ways to do that:

• Always do legitimate fact-finding. The time you invest here will make you a better advisor and generate more revenue over the client's lifecycle.
• Sell what you believe in. Always recommend high-value and low- or moderate-cost products. You may get paid less now, but you'll make more later.
• Close through education, not hype. Lose those canned objection responses. Instead, learn to close by providing helpful information.
• Stick with your clients for the long term. Provide continuous and passionate post-sale service, and your clients will reward you with loyalty and referrals.