(Image: iStock)
"I didn't know you did that! You never told me!" How often has a friend told you they bought something from a competitor? They had a terrible experience. You counter "I do that. Why didn't you come to me?" Somehow your response puts the blame on you for not telling them. This stops now.
1. Explain what you do. Years ago, stockbrokers sold stock. Bankers made loans and insurance agents sold insurance. Now, if it fits into financial services, everyone does everything. Get that point across.
Myth busted: You aren't a stock picker. You are a relationship manager.
2. How you do business. You have a process. You explain it. You show how financial planning has an investments, insurance and lending track, if necessary.
Myth busted: You don't slap the product of the day into a client's hands. That was so 1970s!
3. Training/experience. If you are new, this can be a challenge. Sell the firm. If you are part of a team, sell the team's combined experience and specialization.
Myth busted: If you are new, you aren't going to practice on them until you develop your skills.
4. Number of clients. Let them know the number of households in your practice. You can know each person personally and develop a relationship. You care about them. How often do you keep in touch?
Bryce Sanders is president of Perceptive Business Solutions Inc. He provides HNW client acquisition training for the financial services industry. His book "
