Updated August 11th, 2023.
An effective financial advisor prospecting strategy requires you to learn what to say and how to say it.
To succeed, you must learn how to prospect without using annoying gimmicks or sales practices. Affluent clients want sound financial advice about financial planning topics that solve their challenges. They also want to work with financial professionals who are a good fit with their personality.
Too many advisors in the financial services space spend too much time trying to generate leads with their marketing strategy, including social media, email marketing, and digital marketing, instead of serving and nurturing their existing clients.
Today in Financial Advisor Prospecting will learn:
- How to set an appointment
- The best questions to ask prospects
- Which scripts work best to get more warm introductions and referrals, and more!
Early in my career, I realized that to succeed in my financial advisory or really any business, I had to can an effective prospecting strategy.
This requires that you learn and master the “art of language.” Specifically, what to say, when to say it, and how to say it with ease so it doesn’t sounds like a canned prospecting script.
Examples of the best scripts and insight you will learn in today’s episode include:
- The best money coaching and financial advisor prospecting scripts
- What to say when someone asks you what you do (This script has made my firm and my clients more money than any other one!).
- Why asking excellent questions when prospecting is so important to bottom-line revenue
- The script to qualify a suspect or cold prospect
- What to say to get warm introductions and referrals
- How to get back in the conversation when the prospect checks out
- The most effective questions to ask a prospect?
Additional prospecting tips for financial coaches and advisors:
- How to handle an objection, and more importantly, when to respond to it
- What type of questions work best with ideal, profitable, affluent clients
- The best script to make a cold call warm (This is one of my favorites and most valuable scripts!).
- How to respond to a client who is not comfortable referring others to you
- Simple phrases that get an uncomfortable conversation back on track
- What to say to get honest feedback from your clients
- How to tactfully qualify prospect
- Why referral marketing scripts are so important in service-based business
I became fascinated to learn how a person’s mind works and how people respond to new information. The research proves that behaviors, established hard-wired habits, and beliefs allow us to predict a person’s response to a question or new information. The findings are fascinating.
While most advisors and financial coaches wing what they say or how they say it, successful entrepreneurs, financial advisors, and money coaches take the time to master what they say and how they respond to all questions, including,
- What do you do?
- I am not comfortable giving referrals.
- I don’t need “blank.”
They understand that “wing it responses” lead to “wing it results.”
In today’s episode, “Financial Advisor Prospecting – What to Say and How to Say It,” you will learn the best responses from our research on serving wealthy women and couples for over 30 years.
Click the image to watch today’s episode:
In this episode, you will learn:
- Three key financial advisor prospecting scripts.
- An exact prospecting script my clients and I use with affluent clients and business owners.
- What to say when a client is unwilling to give referrals to you. As a result, you will know what to say to strengthen your relationship.
- The best type of questions to ask a prospect and a client.
- Why a script to set an initial appointment and a follow-up meeting are so important.
- The best scripts for prospecting (These prospecting scripts work great with service providers, financial advisors, money coaches, and business coaches.).
- The best questions to ask based on neuroscience research and real-world results.
- How to create a financial advisor marketing plan and attract more affluent clients.
- Why you must understand the response format before you create a prospecting script.
- What you should never say when engaging with a prospect or potential client.
- The best referral marketing script for financial advisors, money coaches, wealth managers, and financial coaches.
- Why becoming a master writing scripts is so vital when it comes to your success as a financial advisor or money coach.
- The best response to provide a new prospect when setting an appointment (This is a million-dollar nugget!).
- The best time to set the next appointment (This is a time-saver and game-changer!).
Benefits of Mastering Prospect Scripts
Mastering financial advisor prospecting scripts is critical and has several benefits, such as:
- Attracting more qualified, profitable clients
- Less time transitioning a prospect to a client
- More revenue in your bottom-line
- Faster growth in your financial advisory business
- Less stress, especially with not knowing what to say or how to say it
- More prospects because you know what to say regardless of how your clients respond when you ask for referrals or warm introductions
- Mastering each script so it comes across as natural and authentic instead of canned and inauthentic
- Doubling your appointments on the first attempt
- Increasing the number of prospects in your funnel (Knowing what to say will improve your confidence when you meet a new prospects.)
Your Next Best Prospecting Steps
While we dove deep into the power and benefits of scripts, a few additional steps will make the process easier.
1. Identify and confirm your ideal profitable client.
Knowing your ideal prospect and client makes creating scripts easier. Instead of creating scripts for several niche markets, you must only produce one or two, depending on how many target markets you serve.
2. Ask prospects what they want.
Too often, we assume what our clients or prospects want. Asking people what they want and then delivering it will save us resources, including time, money, and mental energy.
Commit 30 or 60 minutes weekly to interviewing people associated with your ideal client. Find out how your ideal prospect wants to be approached, their challenges, and where they see themselves in five years. Ask them what they love about their current advisors (if they have one), what they dislike about them, what keeps them up at night, and anything else to help you know them better.
3. Choose the strategies you will use to attract more of your ideal prospects.
When you use strategies that attract more ideal prospects in your niche, scripting becomes 100 times easier.
4. Finally, create a script book.
First, identify all scripts, prioritize them, and practice them. Measure your results and determine what parts of your script went well and where you need to improve.
Next, practice your script for one to two hours each week and then record the audio and video.
Continue to practice until you perfect your presentation. The saying goes, “Amateurs practice to get it right; masters practice until they can’t get it wrong.” Masters are winners. And you are a master!
If you don’t have a marketing plan or you are not achieving your goals, download our free Marketing Plan Guide here:
