There is a new sheriff in Wall Street and she is not wearing a corset. Women advisors are unleashing their unique feminine strengths to lead the industry to a more holistic and authentic style of managing people and money. In an industry designed by and for men, female advisors are creating more gender balance by transforming the culture and creating a massive paradigm shift in how business is done.
While it’s essential to acknowledge women bring unique and powerful skill sets to the role of a financial advisor, women advisors need a new model, process and business plan in order to maximize their strengths as women to create exponential business growth.
No longer willing to become the prospecting cowboy, women advisors’ ability to build and nurture relationships is having a far greater impact on both business growth and client satisfaction. Instead of self promotion it’s about listening, learning and understanding all of that which builds relationships and trust ten times faster. Women’s desire to interact, to network to be part of a community allows them the opportunity to attract new business rather than chasing down “hot prospects” while feeling like a stalker. By opening with their purpose as a financial advisor they immediately intrigue and attract more interest faster.
While learning how to sell a product contains valuable skills for most female advisors, the underlying objective to persuade others, feels uncomfortable and lacks the sincerity they crave. When focused on who they are truly destined to help and why, their passion is ignited and their message welcomed. This less intrusive approach leads to more fruitful conversations about new ideas and strategies. This softer more purposeful approach creates a magnetic energy that leads the listener to move out of their comfort zone and consider making changes, moving them closer to becoming a client.
Last, “closing the deal”, while it’s important to have a defined process for women advisors, it’s more about motivating the client to take the next step to improve their life. By focusing on the feelings of success, the feelings of security and the many other benefits that drive women and couples to make big decisions they are better able to move the prospect to become a client in a more gentle, yet highly productive manner. This process instills more ownership in the client creating a team environment. This naturally introduces a stronger client commitment to the process generating better outcomes for both the client and the advisor which inspires more referrals and naturally reduces the risk of attrition.
The role of the financial advisor is no longer about riding in with guns blazing. The new model for advisor driven by the strengths of women enhances every advisor’s ability to build stronger relationships with increased trust. They are better able to inspire more interest faster, and then gently motivate prospects and clients to make smarter, more productive, financial decisions.
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