How to overcome objections and ensure client satisfaction

As a financial advisor, how you handle objections shows clients how you prioritize their best interests. The following method of objection handling, which is a two-pronged approach of process and then mindset, can help you become a more effective advisor who communicates care and concern for clients.

The process

Concerns and objections from the client are expected. This four-step process will help you overcome client objections:

Step 1: Acknowledge the client

When clients raise an objection, be receptive and empathetic when acknowledging their concerns. For example, if a client objects by saying, “I need to consult with my wife before purchasing a life insurance policy,” accept the objection in full cooperation.

Step 2: Ask relevant questions

Asking questions related to the objections of your clients will help them think better about your offering and will help you gain an edge over your peers. For instance, your questions can be, “Do you think your wife would tell you to not protect her and your children?” or “Don’t you think she would be happy to know that you are planning for the family’s future well in advance?”

Step 3: Provide solutions with examples

To help your client understand the value of financial planning, provide hands-on solutions to their problems. For instance, you may tell your client, “A situation may arise where you speak to your wife about the insurance plan. You may not be able to answer all her queries regarding the plan. For further clarity, you, your wife and I can set up a meeting to answer your questions regarding life insurance plans.” Understanding the parameters of the problem is important to arrive at a solution.

Step 4: Make the example relatable

Married couples tend to make financial decisions together as it directly impacts them, with the spouse most likely being the beneficiary. When encountered with this objection, you must acknowledge it and, at the same time, counter it by offering something such as a free-look period. You may tell them, “I can give you practically free insurance until the time you talk it over with your spouse. Why would you want to miss out on coverage while you’re deciding?” 

If the client decides to go ahead, good; if not, the coverage can be canceled with a full refund. This will help you win the confidence of the client and sell your product as a bond of trust is established.

The mindset

An effective and positive mindset is what can set you apart from other financial advisors.

  • Have patience

It is easy to get flustered by a client’s multiple doubts regarding the product if you are in a hurry to seal the deal. However, if you become aggressive, it is quite likely that the deal will not materialize. Maintain your composure and listen to what the client is saying. It highlights that you are empathetic and considerate.

  • Present facts

Many myths exist about life insurance. It is not uncommon to encounter a client who has preconceived notions about insurance products. Similarly, many other myths can be busted by simply highlighting facts.

  • Provide justifiable answers

Understanding the client’s objection is incomplete unless it is followed by an appropriate response. For example, if the client says they don’t need insurance, don’t counter them right away. Inquire about their financial situation and obligations. This would make it easier for you to offer a product that meets their requirements. By doing so, you will be able to demonstrate the value of your product and how it benefits the client.

Remember, receiving objections from clients is preferable to receiving none because it indicates their interest in your product.

Mariam Tinwala  writes for Team Lewis, a communications agency assisting MDRT with content development for Asia-Pacific markets. Contact

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