Advisors are Making the Switch, and Profiting From it

Advisors are Making the Switch, and Profiting From it

I get it, making the switch is hard but the impact on your business will be AMAZING and totally worth the effort.

 It’s not physically hard it’s often mentally hard, but when you make the shift everything in your business becomes easier.  Your activities will become more purposeful and you will become way more productive and profitable.  Once you can overcome the mental roadblocks, former protocol and embrace this fresh new way of doing business the impact and results are immediate and sustainable. 

I think most advisors agree the old school approach to building a business is just not working like it used to, it’s archaic and antiquated.

 Most advisors I coach recognize that the environment has changed requiring a new approach to building a business. When asked, they too agree they don’t like to be prospected, sold to or closed on so they totally understand why prospects and clients abhor the old methods as well.

But here is the challenge.

While advisors recognize something has to change, when pushed out of the traditional path, when their process acts counterintuitively to what they have been traditionally taught they go right back to the old antiquated habits which leads to slow growth.

Changing your mindset is difficult until you do it.  Even after developing a personal story and unique compelling introduction that is totally authentic to who they are many advisors still struggle to launch.  But the moment an advisor gives this new message and process a try, the reaction from others is so powerful and positive that the rest is history.

Related: Women in Finance are Drowning in Testosterone

There are three essential components to take this leap of faith.

  1. Tribal marketing has become essential in today’s social media world, even a target market is less than effective. Tribal markets can cross demographic groups, genders and professions; it’s not about what they do it’s about who they are.  Tribal marketing is personal and authentic. It allows you to make powerful connections which magnetically attracts more of your ideal client.
  2. Your personal story is the number one tool to building trust. Without a personal story to validate your focus, prospective clients will continue to question your motives leaving a small avenue of doubt which can erode even the best of relationships. Prospects and clients want to know WHY you care about them as such your story will dramatically enhance their desire to work with you.
  3. Your compelling message becomes the basis to your brand. Once developed your compelling message can be woven into any conversation. You can use it as a powerful introduction or integrate smaller components into conversations, intriguing everyone to want to learn more.  By using your compelling introduction, the clarity and brevity of what you say will intrigue, inspire and leave a clear and lasting memory as to who you are and what you do with everyone you meet.   

The world is changing rapidly creating a whole new environment that craves sincerity, authenticity and transparency. 

By embracing a new approach to building a successful financial practice that focuses more on ATTRACTING business (rather than chasing business) you will position yourself for accelerated growth leading the industry to changes that are long overdue.   

Adri Miller-Heckman
Marketing to Women
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Adri Miller-Heckman is an expert at helping financial professionals market to and engage women more effectively. Adri is a highly passionate and motivational coach and speaker ... Click for full bio

Most Read IRIS Articles of the Week: March 19-23

Most Read IRIS Articles of the Week: March 19-23

Here’s a look at the Top 11 Most Viewed Articles of the Week on, March 19-23, 2018

Click the headline to read the full article.  Enjoy!

1. Multi-Factor or Not Multi-Factor? That Is the Question

Let’s pretend you are a US investor that wants to deploy some of your money overseas.  You think international developed market stocks are attractive relative to US stocks, and you also think the US dollar will decline over the period you intend to hold your investment.  — Chris Shuba

2. The Lies Spread by Bankers About Cryptocurrencies

I had a chat with The Financial Times the other day, and provided lots of background as to why I don’t think cryptocurrencies are the choice of criminals. The comment that was reported was the following ... — Chris Skinner

3. Alternative Investments? You May Need New Shock Absorbers!

During the tumultuous red and green gyrations of the capital markets this year have your clients anxiously called to ask: “What’s going on with my portfolio?” What do you do when the usually smooth ride in your luxury automobile becomes as bumpy as Mr. Toad’s Wild Ride in the Happiest Place on Earth? What does the average investor do? — Ted Parker

4. Why Fear of Inflation Is Rattling Investors

Inflation is a bad thing, right? It make things more expensive, right? For those of us of, let’s say, a certain vintage, we recall the runaway inflation of the late 1970’s and early 1980’s. So why does the Federal Reserve – in charge of managing the country’s currency and value thereof – actually try to create inflation? It’s called the inflation targeting and it matters to your money. — Bill Acheson

5. The Best Retirement Investments for a Steady Stream of Income

As you near your 60’s, your prime earning and saving years will transition into a period of time where you get to enjoy the “fruits of your labor,” a.k.a retirement. We call this segueing from accumulation to decumulation, the period when you will be drawing from your accumulated nest egg. Dana Anspach

6. An Emerging Theme In Thematic Investing

Exchange traded funds (ETFs) are popular vehicles for market participants looking to engage in thematic investing. Thematic investing looks to take advantage of future growth trends, including disruptive technologies. Given that forward-looking approach, stock-picking in the thematic universe is equally as hard, if not harder, than in traditional market segments. — Tom Lydon

7. 8 Winning Questions You Should Be Asking Every Prospect

It’s not enough for your salespeople to be product experts, they also need to be capable of having the kind of conversations that position them as business experts and even strategic resources. — Lisa Rose

8. 10 Steps to Successful Strategic Alliances

Business growth doesn’t come from wishful thinking. As you know, it takes a lot of hard work. The growth of your business is not an option – it is a necessity. Coordinating the right mix of strategies to gain market share and improve client acquisition rates is essential to advance your firm in today’s economy. — Michelle Mosher​​​​​​​

9. Keep It Light: Harnessing Humor for Financial Marketing Success

It’s undoubtedly true that investors’ financial security is no laughing matter, and this is reflected in the stolid, dour, reliable imagery and branding that is, by and large, the industry standard. This is hardly surprising—investors need to believe they’re placing their hard-earned money in the hands of experienced, trustworthy professionals. — Alexandra Levis​​​​​​​

10. Do the Economics of a Move to Independence Really Add Up?

The number one question advisors ask when exploring a move to independence is how the economics compare to accepting a recruiting package from a major firm. It’s certainly a valid concern, because while the recruiting deals being offered by the wirehouses are down, it is still very possible for a top advisor to get a really attractive hard-to-pass-up offer. — Mindy Diamond

11. Four Big Reasons Why Short-Term Muni Bonds Should Excite You

Municipal bonds might not be the first thing that comes to mind when you think of a sexy investment. They don’t typically command news headlines like the stock market or bitcoin. — Frank Holmes

Douglas Heikkinen
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IRIS Co-Founder and Producer of Perspective—a personal look at the industry, and notables who share what they’ve learned, regretted, won, lost and what continues ... Click for full bio