SALES STRATEGIES
Avoiding the unconscious bias factor
The Golden Rule may be , “ Do unto others as you would have them do unto you ,” but I live by The Platinum Rule , “ Do unto others as they would want done to them .”
Unconscious bias can test your ability to put your clients ’ best interests first . Though my practice is guided by the saying , “ keep a quiet mind and an open heart ,” I still must frequently remind myself to put personal opinions aside in all interactions to best serve current and potential clients .
Prospecting for prosperity
Due to the events of 2020 and its financial impact , 44 % of Americans say they are aware of the benefits of working with an advisor , according to a recent MDRT study . With a prospect pool that is deeper than ever , aligning on values from the outset will set you apart from the competition . To do so , you must set aside your personal biases . You can incorporate this sentiment when asking for referrals from existing clients , too . Say something like , “ I can tell you care about the people who depend on you and take action to support them . When you think of people in your life you respect , who comes to mind ?” This establishes a natural connection when first meeting with the prospect , as you are already aware of similar values shared with your existing client .
Discovering values The discovery process is a great opportunity to ask questions that help you understand and evaluate a client ’ s personal beliefs . In doing so , you ’ ll learn what diverse goals drive their financial planning . You don ’ t have to agree with them , but you should convey you are there to get them on track to what they believe is a fulfilled life .
Delegating fact-finding While most advisors tend to conduct fact-finding themselves , I delegate this stage to my staff . When you ’ re dealing in facts , it ’ s difficult to put aside opinions you have already formed . This is where unconscious bias comes into play , prompting you to get ahead of yourself and offer solutions that might not align as well with a client ’ s values . Delegating fact-finding allows you to evaluate without your subjective opinions interfering .
Stephen Kagawa , FSS , LUTCF , is a 26-year MDRT member with three Court of the Table and 18 Top of the Table qualifications . He is the CEO of The Pacific Bridge Companies , which provides cross-border financial planning and financial alternatives .
Identifying alternatives , not solutions
The words you use in your practice influence how you operate . For instance , your clients don ’ t have problems to solve ; they have goals , and you identify alternatives to their actions to help them achieve those goals . Remember to stay focused on what is meaningful for them . The Golden Rule may be , “ Do unto others as you would have them do unto you ,” but I live by The Platinum Rule , “ Do unto others as they would want done to them .”
Finding synergy
When presenting yourself as a partner in a client ’ s financial stability , you talk about the what , how , and why , which includes what you can help them achieve and how you will accomplish their goals . If you work across various countries and cultures , it ’ s imperative to tailor the why when presenting your value to each client . If you use core values to guide every interaction , you will find more success in advising and creating advocates out of clients .
www . nailba . org 41