Even the most successful advisors appreciate the value of a good sales idea. These are a few favorites from MDRT members:
Make the call
“We confirm every appointment the day before the meeting. My staff usually does this between 9-10 a.m. It lets clients know we are excited to see them and it sets the tone that we take our appointments seriously. Now, if the staff happens to call later, clients will actually call us to make sure our appointment is still on.” — Barbara Pietrangelo, CFP, ChFC, Ada, Michigan
Show the numbers
“To illustrate how much life insurance a person needs, we have a spreadsheet where we input the client’s current income, and we ask what percentage of their income they would like to leave behind for their family if the client dies. We also ask how long they want this money to last. We then input the current amount of life insurance the client owns. Most often a shortfall will be shown. We then ask the client to help us complete the spreadsheet to their satisfaction. By increasing the amount of new insurance, or reducing the percentage the family will receive, the client participates in the equation. The end result is that the client tells us what numbers to use. We then see how long the money will last (or not). This replaces the sales environment with the advisory environment. The client most often takes ownership of the number.” — Corry Collins, CLU, CHFC, Halifax, Nova Scotia, Canada
The power of teamwork
“We have adopted the approach of a second chair in all client meetings. This provides a number of benefits:
- More comprehensive notes for compliance and advice preparation
- The adviser is fully engaged with the client or prospect in the meeting
- A second set of eyes on the issues and concerns
- An opportunity for clients to get to know the team
- The team member to learn presentation skills.
Following the meeting a debrief is done so no points are missed, and the opportunity to develop the strategy for the client frees the adviser to move on to more dollar-productive activities.” — Mathew Fogarty, CFP, Moorabbin, Victoria, Australia
See more sales ideas in the Resource Zone.