Over the years, I have worked with countless advisors in the field, training them and helping them perfect their presentations. I can't believe how often I will have an advisor whose numbers have plummeted and they can't figure out why. I’m talking about advisors who have been in the business for years, have a ton of product knowledge, and a deep understanding of our industry. So, what gives?
Have you ever had this problem? Do you know someone who has? Here is a tip that has helped me and my team again and again. Believe me, I am as guilty of forgetting it as anyone.
Keep it simple
Go back to the fundamentals. Clients don't want to be talking to Socrates when they are discussing their retirement. Now don't get me wrong, you need to know the information and be able to answer their questions. However, just because you can calculate a market value adjustment on the annuity you are selling
doesn't mean the client cares. In 99 percent of the cases, you will end up losing them, which results in no business.
Let me give you a great example. I had an agent who was very successful and his annuity production dropped off 75 percent in a matter of a few months. So, I decided to go out and run two appointments with him. Guess what? I was confused myself by the time we left the appointment, in both cases.
I took the agent back to the office and re-ran the appointment with him. I reminded him of a very simple T-chart we used to compare interest rates back when we started training him. He laughed at me and said, “Yes, but the clients want more than that.”
Hey, he may be right in some cases, but not with middle-America. They want the fundamentals, and we often try to give them brain surgery. Needless to say, the agent went back to keeping his presentations simple. He went back to the fundamentals
and back to the good old T-chart. Guess what? Not only did his production bounce back, but it was even better than ever before. When in doubt, go back to what made you a great advisor in the first place.
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