Trust Is the Key for financial advisors.Trust is the single most important prerequisite for creating client relationships that produce big results with less time and effort. However, most training in the financial services industry emphasizes products and sales. There’s no trust training. Yet you have probably noticed that when you are trusted, you don’t need anything you learned about sales. Sales training addresses the symptoms, not the problem. When people don’t respond to your advice, they are really telling you they don’t trust you enough to take action on your ideas. When they choose not to open up, tell you the truth about their current
financial situation and be candid about their needs, goals and problems, it’s because they do not trust you enough to do so. When they rebuff your approach, they are telling you they do not believe you have their best interests at heart. These clients are not telling you that you need to make better features and benefits presentations, handle their objections more cleverly or be a smoother “closer.” There’s simply no trust.
Of course, it’s important to be good at what you do and to know your products, but you have probably also noticed that few, if any, people have failed in this business because they lacked product knowledge. Many fail, however, because they are not effective at rapidly building the high-trust client relationships that lead to consistent business, repeat business and referrals.
Right now you are probably wasting time trying to do business with people who will never be good clients. Channel that time into the right business relationships and you will experience a quantum leap in productivity and satisfaction, no matter how successful you are already.
Your values-based clientele will consist of your ideal clients: people who tell you where all their money is in the first meeting, make commitments to become your clients for life, consistently keep their commitments, introduce you to everyone they know who meets your standards and do what you advise them to do. The key to attaining your ideal clientele is the art of deliberately and sincerely building trust. That is the single most important ingredient in any business relationship. If you are not building high-trust client relationships on purpose, you are selling by accident. As long as you choose to sell by accident, you cannot achieve your highest level of success.
Most top producers I have encountered don’t really know what causes a prospect to trust or distrust them, so although they do very well, many of the best in our business still sell by accident. The development of trust is often attributed to chemistry, intuition, gut feeling, long-term effort, being honest, product performance or some other unexplained, accidental or mysterious process such
Values-Based Selling.
Financial professionals who are not building trust on purpose with every client will continue to be frustrated by prospects who need what they are selling but who will not buy. It’s not that financial professionals are bad at the game of selling— they’re simply playing the wrong game.
Shared from the Book: Values Based Selling.
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