Category: Building Trust

“Attract Trust: Build a community of right-fit clients by behaving in a way that earns trust.”

October 6th, 2018 by

Trust is not the objective in an advisor-client relationship. Rather, trust is a byproduct of the other things you do, such as your behavior, your communication, and the quality of your work.

If gaining your clients’ trust is your objective, then the focus is in the wrong place: you. When your goal is to establish trust, it might be to further your agenda: “I have to get them to trust me so they hire me, so they give me assets, so they buy my product or idea” and so on.

Consider this point of view instead: “I am going to show up relaxed, be authentic and professional, create a great client meeting experience, ask great questions, listen with empathy, be well-organized, respect their time by not bragging about myself or my company or over-explaining financial concepts and ideas, and be selective about letting only right-fit people join my community of ideal clients. If, in the process of behaving this way, they trust me and hire me, fine. If not, that’s OK, too.”

You may be concerned that relaxing or abandoning a more intense sales focus will diminish your results. Actually, the contrary is true. Which is more likely to attract successful people as clients: the relaxed trusted advisor or the intense salesperson? Relaxed doesn’t mean lacking in passion for helping people make smart choices about their money. It means that you don’t show up with what we used to call “commission breath.”

Below are nine time-tested ideas for behaving in ways that create the byproduct of trust.

  1. Look for right-fit people to join your client community versus going after anyone with money. Create an ideal client profile where personality is equally important to money for them to earn an invitation to join your client community. Notice the difference in how it feels to think of inviting people to do business with you versus thinking only of closing the deal.
  2. Ask good questions about your clients’ values and goals: What’s important about money to you? What are your tangible goals that require money and planning to achieve? How much do you want to have for that goal? By when? What are two or three words that describe what you are thinking and feeling once you have achieved that goal? Does the idea of having a comprehensive financial plan that gives you a higher probability of achieving your goals and fulfilling your what is truly important to you in life (your core values) appeal to you? Would you like to join our client community and have us do this work for you?
  3. Listen with empathy. The tendency, especially during an initial client interview, is to think about what you are going to say next while they are answering your question. When you do this, you don’t really hear what they said. It’s difficult to be empathetic to things you weren’t mentally present to hear. The solution is to have your questions memorized so you don’t have to think about what you are going to ask next, thus allowing you to be fully present and a much more empathic listener.

  1. Record your client meetings, especially the initial client interview. You may have seen one of my previous articles in a magazine before about recording client meetings.  To save you the trouble of searching back issues here’s a script for introducing the recorder.  “I appreciate the investment of time and effort you made to be here today. The fact that you have done so tells me that you must be serious about your money – is that true? (Pause for answer.) You’ll notice that I’ll ask many relevant questions, take copious notes, and I also record the meeting. (Refer to the recorder and pause.) The reason I record is because I’m very thorough. (Pause.) Do you know how you can watch a movie a second or third time and see things you missed the first time?” (Long pause for response.) “Well giving you advice about your money so you can achieve your goals is obviously much more important than a movie, so I want to make sure our advice is right for you. If we choose to work together, I’ll listen to this recording at least one more time to make sure to get it right.” (pause)  Ask your first question.
  2. Give advice with conviction. Salespeople tend to offer alternatives and let the prospect or client choose. Trusted Advisors gather all the information they need, consult with other experts where appropriate, and – with conviction – give the best advice for the client. There may be more than one way to achieve a goal, but there is only one best Find the best way and give advice with conviction.

  1. Tell the truth, even if doing so jeopardizes the relationship. Serious and successful people don’t want to pay good money for a rubber-stamp, “yes-person” telling them only what they want to hear. It’s your job to tell the truth, especially when it’s what they need to hear and not what they want to hear.
  2. Be inspiring. Focus on helping clients and prospective clients create a compelling vision for their future and become their bridge to make it happen. Being a future vision creator is much more trust-building than being a problem-solver.
  3. Be a comprehensive financial professional. It’s interesting that most financial advisors claim to be comprehensive, which implies “everything.” Do you really help your clients take care of everything related to their money?
  4. Put the client first. It sounds almost silly; yet, there is a lot of discussion and controversy by regulators and industry leaders about the fiduciary standard. It’s simple. In all situations, under all circumstances, put your client’s needs ahead of your own. Isn’t that what you already do? The good news is that your competition needs somebody else to define integrity for them.

Keep in mind that these are not tactics to build trust. They are powerful behaviors of financial professionals who are very good at what they do and who genuinely care about helping people get their entire financial house in order, achieve their goals and fulfill what is truly important to them in life (their core values). By behaving at this very high level of professionalism, your clients’ trust is the byproduct of that behavior.

Join Bill Bachrach on October 9 at 11:00am Pacific / 2:00pm Eastern for a FREE LIVE TRAINING, Client Acquisition Mastery in the World of Digital Advisors and Disruptive Technology. Register NOW by going to https://youradvisorroadmap.lpages.co/clientacquisition-10-09-18/

 

Check out the AdvisorRoadmap™ Virtual Training Platform that provides you with everything you need to know about Client Acquisition, Client Service, Leadership, and Time Management available 24/7 on your computer, laptop, tablet, and mobile phone for an extremely affordable price.  To discover more so you can build trust even more quickly and accelerate your results, go to: http://www.youradvisorroadmap.com/

Do you want to work less and make MORE?

September 27th, 2018 by

If the answer is YES or DUH…, then let Bill show you how you can do it!

Chances are very high that your current approach to client acquisition practically guarantees that you will work too many hours, for too little money, and for too many of the wrong clients.

Ironically, most Advisors want exactly the opposite: more money, less hours, and more of the right clients.

  1. More Money.
  2. Fewer Hours at the Office.
  3. Fewer Clients (but HIGH DOLLAR clients)

Bill Bachrach will share case studies, stories, and examples of what the best Advisors do well and what most Advisors are doing wrong.

In order to work fewer hours, acquire the RIGHT clients, and make more money, join us LIVE for this training session on October 9 by clicking this link. https://youradvisorroadmap.lpages.co/clientacquisition-10-09-18/.

Join Bill on this powerful training session to help you accelerate your results, so you can stop working too many hours, for too little money, and with too many of the “wrong” clients.

Income seldom exceeds personal development.―Jim Rohn

When you attend the LIVE training, you will have access to a special and valuable BONUS you only get when you show up for the LIVE webcast. We know how busy you are and how easy it is to register and then get distracted by something else when the time for the online training rolls around, so here’s an incentive for you to carve this event into your schedule in stone.

The bonus training video includes the 5 key habits of top Advisors who build businesses with 50 or fewer clients who each pay them $36,000 per year, or more. Whether you want to build a business exactly like this or not, these 5 key habits will help you build a stronger, better, and smarter business.

Show up for the Master Client Acquisition web training and Claim Your Bonus Training Video.

 

Would you like to know how to get the clients you REALLY want?

September 25th, 2018 by

Do you have a process for attracting the type of clients you REALLY want to be working with?

If YES, could that process be even better, so you more quickly get even better results?

If NO, you need one!  Otherwise, you’ll get caught up in the cycle of working too many hours, for too little money, and serving too many of the wrong clients!

Join Bill Bachrach on October 9 at 11:00am Pacific / 2:00pm Eastern for a FREE LIVE TRAINING, Client Acquisition Mastery in the World of Digital Advisors and Disruptive Technology.

Don’t Miss Out and Claim Your Spot for The Free Training Now!

The industry is changing to become totally transparent, let me be totally transparent with you right now.

Most Advisors say they work too many hours, for too little money, and with too many of the wrong clients.

More importantly, this problem will NOT fix itself.

In a survey we recently conducted,

  • 93% of Advisors say they need or want to make more money,
  • 83% say they want to work fewer hours per week and take more REAL vacation every year, and
  • 98% say they would like to have a smaller total number of clients who each pay them more.

If this is you, claim your spot for our FREE Training on October 9 at 11am Pacific Time / 2pm Eastern Time!

If you have a sincere desire to work less, get paid more, and work with the ‘right’ clients, you want to attend this free training.

In addition to getting the most clear and concise definition of “client acquisition” you’ve ever heard, Bill will answer the following questions:

  1. Who should be your target client and why?
  2. Why is it easy to “steal” (rescue, as we like to call it) the best clients from established advisors?
  3. What’s the BIG mistake that most advisors make and what to do about it?
  4. What are the keys to successful Client Acquisition, like where to find higher-net-worth prospects and convert them to clients.

Bill also shares case studies, stories, and examples of what the best advisors do well and what most advisors are doing wrong.

In order for you to work fewer hours, acquire the RIGHT clients, and make more money so you can improve your qualify of life, join Bill Bachrach “LIVE” for this training session.

Claim Your Spot for The Free Training Now!

Join us for  this powerful training session to help you accelerate your results.

 

Are you communicating with your clients enough?

July 14th, 2018 by

Are you currently sending your clients and prospects valuable content each month that they look forward to reading and keeps YOU on top of their mind?

This is a really good newsletter, it’s well done. I didn’t throw it in the trash like I do with 99% of what comes in here.”–Scott P’s client

Research has shown that it is easier to keep your great clients when you reach out and “touch” them 24 times per year (2 times per month). This shows them that you care and that you’re there to help them.

This communication can be in the form of a birthday or special occasion card, a phone call, a progress meeting, a high-value newsletter, etc.

If you’re not currently communicating this frequently with your clients and prospects, you can start doing this right away.

This is a great strategy for retaining your clients for the long-term and getting even more referrals.

“The comments we get about the Quality of Life newsletter from our clients is very positive. One comment we get the most is, “It’s the one thing I read every month.” This is one reason why we have been sending out this non-financial newsletter for at least 11 years.” –Greg C.

One of the most effective ways to deliver communication is through a high-value newsletter that gets sent out in the mail (yes, I said the mail).

Emails are easily missed; however, when a newsletter arrives in the mail from someone you know, like, and trust… odds of that being opened and read are very high.

Wouldn’t it be great if you could easily have your own personalized high-value newsletter and didn’t have to write it?

You can!!!

“I’ve been using these Quality of Life newsletters since day one as a financial advisor and have never missed a month! I get the most positive comments from my clients about these newsletters. My clients continually say they love receiving them and I even get calls about certain articles in the newsletter. My clients love the fact they aren’t business oriented and it truly helps them be a better person.” –Jack W.

The Values-Based Quality of Life™ newsletter, is a done-for-you personalized newsletter that you can use to keep in contact with clients and prospects, without you and your team having to do all of the work.

To check out the Values-Based Quality of Life™ newsletter, and discover how you can have a turnkey, personalized newsletter done-for-you, at a low investment, click here. (http://www.billbachrach.com/order-newsletter/)

“I am really enjoying the newsletters, they are excellent! Your newsletters are great quality and I’ve been passing them along, as long as they give them back to me. They’re all about physical health, relationship health, inner health and career health. Just fantastic! To me I think this is great information that people can actually use.” –Dean K.’s client

Use the monthly high-value Values-Based Quality of Life newsletter to keep in contact with clients and prospects.  There is nothing financial in the newsletter (because you take care of that for them)—it is all about things in life people can’t delegate (physical health, inner health, mental health, career health, and relationship health).

Check out this high-value, client-centric, very affordable, and personalized newsletter by going to http://www.billbachrach.com/order-newsletter/.

 

Quickly Build an Ideal Client Community so You can Enjoy Your Ideal Business and Life

June 27th, 2018 by

The strategy is very simple: create a vision for your ideal life by defining your ideal business and developing your very clear ideal client profile. Then convert some of your existing clients into ideal clients and acquire more ideal clients, by referral only, from your existing ideal client referrals.

That’s the strategy, no need for a long strategic planning conference where some high paid consultant takes you through some onerous process. Simple. Elegant. Perfect.

And then you implement the tactics, which are complete, proven, and ready to go in our repeatable processes.

What you need to make that happen are repeatable processes that are proven to work for scheduling meetings with your existing clients, creating a very compelling experience, that will inspire them to want to upgrade and become a member of your ideal client community, and the ability to deliver on a comprehensive, holistic client value promise. Notice, I called it a promise… Not a proposition. Propositions are for hookers and John’s not for financial advisors and their clients. Then of course you need a repeatable process for generating referrals, warm introductions, and following up effectively, so some of the referrals come in for a meeting and then become Ideal clients.

The glue that makes it all work are your people and communication skills.

You can learn and master everything you need to build a better business, deliver more value for your clients, and generate all the money you need to live a fabulous quality of life by becoming a member of The AdvisorRoadmap Virtual Training Platform community.  http://www.youradvisorroadmap.com/

If you want to, as quickly as possible, build an ideal client community as the foundation for your ideal business so you can live your idea life, then the first step is for you to invest the whopping sum of 900 bucks and join the AdvisorRoadmap Community. Check out all that is included by going to,  http://www.youradvisorroadmap.com/.

The 7 Critical Conversations to Build & Maintain a 7-Figure Business – Part 4

June 12th, 2018 by

Critical Conversation #4: Mastery at making an emotional connection in the face-to-face interview.

 

What follows the opening is a conversation with each spouse about personal core values. Core values are the emotional why that drive all of their important decisions. Most FAs jump too quickly into asking clients about goals, needs, or wants without laying an emotional foundation of why people want what they want. The skill to set this emotional foundation is crucial. Why always precedes what.

 

Values are represented by words like security, freedom, family, making a difference in the community or the world, satisfaction, fulfillment, inner peace, oneness with God, happiness, nirvana, etc.

 

Values are more about being, while goals are more about doing and having.

 

How would mastering this critical conversation help you grow your business with Ideal Clients?

 

If you haven’t done so already, get your complimentary copy of the “Enhanced” eBook, The Confident Advisor; How to Thrive in the New World of DOL Fiduciary Standard, Digital-Advisors, and the 5 Other Critical Industry Disruptions, by Bill Bachrach by going to http://www.billbachrach.com/e-book/. This book is much more than just words on paper. It contains short demonstrations, videos, audios, scripts, and additional proven resource tools to help you

  • get more clients,
  • generate more revenue and
  • become more refer-able.

 

AdvisorRoadmap™ Virtual Training for Financial Advisors is a web-based, virtual training platform unlike anything in the industry. This state-of-the-art platform will help you maximize your client value promise, grow your business, and master client acquisition. The training utilizes Adult Learning Theory which helps to accelerate learning, retention, and results. This unique training platform takes most of what Bill has been teaching for the past 25+ years and condenses it down so you receive proven processes and skills (via interactive training courses, videos, scripts, interviews, live webinars with Bill, monthly podcasts, and demonstrations available 24/7 on your computer, laptop, tablet, and mobile phone for an extremely affordable price) in the following 4 main areas:

  1. Client Acquisition
  2. Client Service
  3. Leadership
  4. Time / Priority Management

 

To discover all 7 Critical Conversations in depth, go to: http://www.youradvisorroadmap.com/

 

The 7 Critical Conversations to Build & Maintain a 7-Figure Business – Part 3

June 7th, 2018 by

Critical Conversation #3: Mastery at opening the first face-to-face meeting.

 

People have embedded in their subconscious minds an imaginary trust dial. And everything you say and do moves the needle on the trust dial one direction… or the other. This is especially important to recognize during the first 45 to 60 seconds of your first face-to-face meeting with a future client. It HAS to be scripted. It has to be scripted word-for-word and you have to practice those words over and over and over again until you are brilliantly effective. Not just at delivering the words, but with the right tonality, the right facial expressions, and with a totally trustworthy way of being.

 

Do you remember the scene from the movie Jerry McGuire when Renee Zelweiger’s character said, “You had me at hello?” That’s your goal: to have them at hello.

 

Here’s our script: “Welcome to our office Bob & Susan. The fact that you took the time to gather your financial documents and made time in your busy schedules to be here today makes a statement about the importance you place on making smart choices about your money, is that true?” Pause so they can answer.

 

“Well, we take it seriously as well. We’ll ask you lots of questions today, take copious notes, and use some tools to help put our discussion in visual perspective. You’ll also notice that we are recording our meeting today. The reason we record is because we are very thorough. Do you know how you can watch a movie a second or third time and see things you didn’t see the first time?” Pause so they can respond. By the way, the answer is always “yes.”

 

“Well, Bob & Susan, our conversation today is clearly much more important than a movie. Should we decide to work together, my team and I will listen to this recording at least once to make sure that we get our advice…. just right… for you.”

 

Take a few moments to consider which direction the needle moved on the trust dial, and why, during that 45-second opening.

 

Can you imagine any virtuoso who does not record and review their performances? How else could you possibly become a virtuoso? You can’t.

 

How would mastering this critical conversation help you grow your business with Ideal Clients?

 

AdvisorRoadmap™ Virtual Training for Financial Advisors is a web-based, virtual training platform unlike anything in the industry. This state-of-the-art platform will help you maximize your client value promise, grow your business, and master client acquisition. The training utilizes Adult Learning Theory which helps to accelerate learning, retention, and results. This unique training platform takes most of what Bill has been teaching for the past 25+ years and condenses it down so you receive proven processes and skills (via interactive training courses, videos, scripts, interviews, live webinars with Bill, monthly podcasts, and demonstrations available 24/7 on your computer, laptop, tablet, and mobile phone for an extremely affordable price) in the following 4 main areas:

  1. Client Acquisition
  2. Client Service
  3. Leadership
  4. Time / Priority Management

 

To discover all 7 Critical Conversations in depth, go to: http://www.youradvisorroadmap.com/

 

 

The 7 Critical Conversations to Build & Maintain a 7-Figure Business – Part 2

June 5th, 2018 by

Critical Conversation #2: Mastery at scheduling the appointment.

 

How do you inspire people, both spouses, to come to your office with all of their financial documents? Given all the demands on their time and all of their options for getting financial education, information, advice, and products… what will be the reason they agree to take the time to get their financial documents together and carve time out of their busy work schedules or retirement activities to come see you?

 

When they come to see you, what will you do for them that’s valuable whether they become a client or not?

 

Can you articulate how it’s in their best interest to come to you instead of meeting them in their home or office? What will you say is the benefit for their spouse to be in the meeting if they tell you that they take care of the money and their spouse is not interested in meeting with a financial advisor? How will your meeting be more interesting than discussions about finances, economics, investments, taxes, insurance, or markets?

 

How would mastering this critical conversation help you grow your business with Ideal Clients?

 

AdvisorRoadmap™ Virtual Training for Financial Advisors is a web-based, virtual training platform unlike anything in the industry. This state-of-the-art platform will help you maximize your client value promise, grow your business, and master client acquisition. The training utilizes Adult Learning Theory which helps to accelerate learning, retention, and results. This unique training platform takes most of what Bill has been teaching for the past 25+ years and condenses it down so you receive proven processes and skills (via interactive training courses, videos, scripts, interviews, live webinars with Bill, monthly podcasts, and demonstrations available 24/7 on your computer, laptop, tablet, and mobile phone for an extremely affordable price) in the following 4 main areas:

  1. Client Acquisition
  2. Client Service
  3. Leadership
  4. Time / Priority Management

 

To discover all 7 Critical Conversations in depth, go to: http://www.youradvisorroadmap.com/

 

The 7 Critical Conversations to Build & Maintain a 7-Figure Business – Part 1

May 31st, 2018 by

There are critical conversations necessary to engage people in ways that predictably turn leads into prospects, prospects into clients, clients into people who take action on your advice, happily pay you for planning and advice, and refer you to their friends, family, and colleagues.

 

These 7 conversations are easy to understand but hard to master. Many FAs have a basic level of ability with these conversations, but this article is about elevating from basic ability to virtuoso skillfulness. Consider what could happen to the quality of your client service and the value of your business when you can artfully engage anyone, any time, and anywhere.

 

Critical Conversation #1: Mastery of the first conversation.

 

Every future Ideal Client relationship starts with a stranger. However, you choose to prospect and market, your ability to engage strangers is critical to your success.

 

How do you engage a person or couple, in any situation or environment, in a way that inspires them to want to talk to you again without coming across like a schmucky financial salesperson trolling for business?

 

This skill is about asking the right questions, listening with empathy, hearing what’s most meaningful, important, significant, and compelling to them, and then being able to make an offer to take a simple first step that’s relevant FOR THEM.

 

Let’s say you’re at a wedding. What’s the obvious first question when you meet someone new, aka: a stranger? “Are you a friend of the bride or the groom?” What’s the next question? “How do you know ________?” And the next question is what really separates the conversation virtuosos from most mortals with decent “social skills.” The typical person asks something superficial like, “what do you and _______ do for fun?” The virtuoso asks a question that’s more meaningful and emotional like, “You and ______ met at an important time in your lives. What did you learn from _______ that has helped you become a better human being?” Listen. Listen with empathy and ask, “and how has that impacted your life?” Continue to listen: “tell me more about that” several times.

 

This critical conversation process can be implemented as part of any prospecting or marketing strategy and when you meet new people in your normal course of living. Eg: at dinner parties, on the golf course, after church, at a charity event, etc.

 

The conversation virtuoso has no trouble engaging strangers in ways they position them to speak again… without ever talking about themselves or giving a tired FA “elevator pitch.”

 

How would mastering this critical conversation help you grow your business with Ideal Clients?

 

 

AdvisorRoadmap™ Virtual Training for Financial Advisors is a web-based, virtual training platform unlike anything in the industry. This state-of-the-art platform will help you maximize your client value promise, grow your business, and master client acquisition. The training utilizes Adult Learning Theory which helps to accelerate learning, retention, and results. This unique training platform takes most of what Bill has been teaching for the past 25+ years and condenses it down so you receive proven processes and skills (via interactive training courses, videos, scripts, interviews, live webinars with Bill, monthly podcasts, and demonstrations available 24/7 on your computer, laptop, tablet, and mobile phone for an extremely affordable price ) in the following 4 main areas:

  1. Client Acquisition
  2. Client Service
  3. Leadership
  4. Time / Priority Management

 

To discover all 7 Critical Conversations in depth, go to: http://www.youradvisorroadmap.com/

 

Are You Sick and Tired of Being Sick and Tired?

May 17th, 2018 by

If you are sick and tired of being sick and tired, join Bill Bachrach’s LIVE online training where you will discover the answers to 4 vital questions:

 

  1. Who should be your target client and why?
  2. Why is it easy to “steal” (rescue, as Bill likes to call it) the best clients from established advisors?
  3. What’s the BIG mistake that most advisors make and what to do about it?
  4. What are the keys to successful Client Acquisition, like where to find higher-net-worth prospects?

 

Not only will you get the answers to these questions, Bill also shares case studies, stories, and examples of what the best advisors do well and what most advisors are doing wrong.

 

In order to work fewer hours, acquire the RIGHT clients, and make more money, so you can improve your quality of life, join us LIVE for this training session. Register at: https://youradvisorroadmap.lpages.co/clientacquisition-5-24-18/.

 

Note: Too little money, too many work hours, and too many of the wrong clients didn’t happen by accident. This problem will NOT fix itself.