Hard-Hitting Questions Are Opportunities in Disguise

Alexa Bricker

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Because of the sensitivities of the financial world, you might feel that you don’t have a lot of compliant cards to play when it comes to networking and prospecting. But in reality, 83 percent of advisors claim that their networks are a vital source for acquiring new clients, according to CEG Worldwide.

Networking might be painful, but it is essential. When you start to see it as an opportunity for growth instead of a waste of time, you’ll be surprised how much more productive these sessions can be. One of the best ways to be prepared for a prospecting session is to understand the questions clients may ask you, and how to respond. These are just a few of the complicated questions advisors get most frequently, and how to see those questions as a chance to grow your business.

How qualified are you to be my financial advisor?

OK, so a client may not ask you this question flat out, but they probably will, in some form, question the qualifications you have that make you a trustworthy source of information. People are always worried about placing their financial security in the hands of others, but if you can prove the worth of your services to prospects, you’ll have them listening.

Will there be a financial crisis in the future?

A loaded question, to say the least, and one that you really can’t give a yes or no answer to. As a professional, you fully understand that the market has ups and downs and that, at times, the market has looked bleak—and it likely will again in the future. Instead of painting the market through a rose-colored lens or scaring clients with the prospect of losing money, you can use this question as the chance to highlight your varied experience, and dedication to helping clients make the best possible decisions with their money at that particular time.

What specific services do you offer?

Many advisors have a set niche of clients that they target, and whether you’re an expert in retirement planning, wealth management, etc., you’ll want to be honest with clients about the scope of your expertise. This doesn’t have to become a negative twist on your prospecting session, though. Even if this prospect doesn’t fit the mold of the majority of your clients, your honesty can bridge the gap—reliability is, after all, one of the most important facets of your industry.

What is your investment philosophy?

Though all good financial advisors will have their client’s best interest in mind, strategies for how to help a client achieve his or her goals will vary. Not all advisors will be a good fit for every person, and it’s important to express to prospects that, before they commit to a long-term strategy, they understand your point of view of the market, and vice versa. Whatever your philosophy is, sharing your thoughts with prospects early on, and often, can help establish trust and a lasting connection.

Written by Alexa Bricker

Creative writer who believes in the power of a well-told story and helpful content.