A Behaviorally Smart Advisor Connects with 25% More Prospects

A behaviorally smart advisor is one who:

  • Knows their behavior and can adapt to others
  • Navigates different communication styles
  • Manages their own and others emotions

How does this help an advisor to connect with more prospects?? Increased behavioral awareness helps an advisor to build the relationship on solid ground from the very beginning prospect stage.

Recent research conducted by Financial Advisor Magazine reported the top reason why clients fire an advisor is failure to communicate on a timely basis.

Financial DNA, Behavioral InsightsIf you objectively uncover the prospects communication style in the on-boarding process, you could specifically discuss the way and types of communication that work best for the client and then adapt your style to accommodate the client.

Lets look first at the communication style. One client might define successful communication if they are doing 80% of the talking.? Another client might want lots of facts and information to be emailed to him so he could have plenty of time to read and review.? Yet another client might define successful communication as allowing them to get right to their agenda and goals.

Next, think about what your prospects consider to be a timely basis? That definition can vary but its best to know upfront so you can manage expectations.? An extremely goal oriented client may want responses within a few hours.? Your outgoing clients may want at least an acknowledgement with a realistic response time frame established so they know what to expect.

The truth is that most advisors communicate with their prospects using their own style; which means they are only truly connecting with 25% of their prospects. That is why lack of communication ranks as the #1 reason clients leave advisors!

For many advisors, a great benefit of gaining more behavioral self-awareness is developing more flexibility. Understanding that you have certain communication tendencies leads to recognition that those tendencies serve one better in some situations than others. That recognition in turn leads to a willingness to assess a prospect and situation and adjust your approach to it, if called for. Knowing what behavior you prefer to show, and what is needed, empowers advisors to choose effective behaviors.

Make a commitment to become behaviorally smart.? Because when it comes to increasing revenues in your practice, behavior will drive performance.



Peggy Mengel ? Vice President, Human Behavior Solutions Advisor at DNA Behavior

Specializing in financial services, Peggy uses behavioral intelligence to help businesses navigate human differences to unlock performance potential. DNA Behavior helps grow behaviorally smart businesses and financial advisors worldwide to increase competitive advantage using the most reliable behavioral discovery and performance development systems on cutting-edge technology platforms.

Visit the Financial DNA website to learn more about becoming a behaviorally smart advisor.

Peggy Mengel

Peggy Mengel - Business Coach - The Biz Sherpa

As CEO and founder of The Biz Sherpa, I coach and consult with executives on developing deep and strong relationships with clients, staff and most importantly, themselves. When you align your talents, passions and strengths with a strategy that fits your uniqueness, you will transform yourself, your client experience and your business.

Throughout my career, one my driving principles is to understand people before numbers. It is this philosophy that ignites my desire to help financial services firms meet the challenge of driving results through a behaviorally based strategy.

How can your firm balance the demands of effectively managing people and maximizing profits? Start building business from the "inside-out" with a coach who understands your industry and your challenges.

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