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As an advisor, you must recognize that you’re not simply in the financial advice business. First and foremost, you’re in the problem-solving business.
This shift in mindset is vital because, regardless of your expertise or how long you've been in practice, if your potential clients don’t fully comprehend the depth and impact of their own issues during your initial conversation, they’ll never commit to resolving them with you.
Shifting from a solution-centric to a problem-centric approach is key to fostering deep trust in your sales process and shortening your sales cycle from multiple meetings.
Often when your prospects describe their issues to you, you might feel tempted to respond with education and potential solutions to demonstrate your value.
It’s easy to assume they’re judging you based on your solution-based expertise.
The truth is, they aren’t hiring you based on your competence (they can’t judge that until after they’re a client). Rather, they are hiring you based on how much they trust you.
The key to earning respect and trust is to avoid assuming that a potential client understands the full extent of their own problems. What they’re truly searching for, though they may struggle to articulate it, is a truth-teller.
They need someone who can reveal what they don’t yet understand about their own challenges. For instance, if your prospect states, “I’m retiring soon and am looking to hire a financial advisor,” that statement merely expresses their desire. It bypasses the deeper issues underlying their initial concern.
Rather than taking their initial statement at face value, consider saying:
“Not a problem. I’m happy to help with that. But it may be more beneficial if we take a step back for a moment so you can walk me through your background, your situation, and your biggest financial concerns about retirement. Then we can go from there. Would you be open to that?”
This approach keeps you in their world and prevents potentially harmful assumptions that could derail your sales process later. It also helps avoid placing blame on your shoulders when you deliver what they ask for, and then they say, “I want to think about it.”
If they attempt to rush ahead, stay present in their world and delve into trust-based questions (not fact-finding questions) that lead them to explore the deeper layers of their issues. Your goal is to continue probing beneath the surface until they genuinely recognize the urgency of addressing their problem with you.
When you reach that point and the problem becomes undeniably clear, ask, “Is this a priority for you to resolve once and for all?”
Your focus should not be on closing the sale. Instead, focus on helping them uncover the truth of their problems so they can take ownership and commit to addressing them with you. By guiding them to own their challenges, you’ll significantly reduce the likelihood of needing to “chase” them after your first conversation.
If you’re ready to step up your trust-based selling skills to a completely new level, order your complimentary books and consultation below.
Ari Galper is the world’s number one authority on trust-based selling and is the most sought-after high-net worth/lead generation expert for financial advisors. His newest book, “Trust In A Split Second” has become an instant best-seller among financial advisors worldwide – you can get a Free copy of Ari’s book here and, when you click the “YES” button in the order form, you’ll also receive a complimentary “plug up the holes” lead generation consultation. Ari has been featured in CEO Magazine, Forbes, INC Magazine and the Financial Review. He is considered a contrarian in the financial services industry and in his book, everything you learned about selling will be turned upside down. No more chasing, no pressure, no closing.
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