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1 phrase guaranteed to increase your closing ratio

This 1 phrase could double your sales

Instantly improve your financial practice, close more deals & increase your effectiveness with this speedy guide.

INTRODUCTION

Tech is an investment, not an expense

“The modern advisor – the ‘FlexGen advisor’ – that embraces technology outperforms your traditional wealth manager – growing their number of clients by 5% more than typical advisors, and their assets under management by 9-10% more.”

-Ed O’Brien, CEO eMoney

So, when I was an advisor, I struggled with the idea that I (and you out there) could only really close one third of the people I’d (and you) meet with.

Significantly increasing your closing ratio will not only lead to more deals, but it will give you (like it did me) more clients, more assets, bigger insurance premiums, more referrals, etc.  All of which lead to: MORE MONEY in your pocket!

With one very simple tweak to my process, more importantly: my language…I went from closing 33% of the time to 67% of the time.  You can too.

So instead of only acquiring 33 clients out of 100 new meetings, I was able to acquire 67.  You can too and you’ll see how in just a minute, keep reading!

Here’s what I chose to do:  I took less meetings and yet gathered more clients by implementing one simple phrase into my discovery meetings.

I took 75 meetings and gathered 50 new clients (67% ratio).  That’s 25 less meetings, 25-50 hours (if meetings are 60-120 minutes long) I immediately gained every year to spend on something so much more desirable to me than hustling.  

Keep in mind I said ‘more desirable to me’.

Some people love the hustle, by all means, implement this language and you can hustle more!  It’s completely up to you how you spend your newfound time and likely significant pay raise!

You got into this business to help people secure their financial future while also securing yours, right?

This is a very lucrative business and more often than not financial advisors are driven to build a successful practice so that their income operates on autopilot.  

Assets create a solid base of regular recurring income do they not?  Isn’t that what attracted you most about this business?  Automated income?  Also the possibility of a very large, automated income…that’s a desirable goal right?

This monumental shift can drastically increase your ability to serve people well,  which HAS to be your motive.  This is not a sales tactic that’s meant to manipulate or give false hope.  

It’s simply a listening exercise that builds trust faster, increases your credibility and improves the likelihood of you being hired.

The phrase is:  “Would that be helpful?”

I asked that question at least 10 times if not 15-20 in every discovery meeting.  It works gangbusters!

Advisor:  “So, tell me about your 3-5 year goals and really paint the picture for me vividly…”

Prospect:  “Okay yea, well we’d like to upgrade our house in the next 3-5 years…”

Advisor:  “Woah woah woah, sorry, let me pause us right there, that’s a fantastic goal and it sounds like that’s pretty important to you, right?”  

Prospect:  “Yes”  (That “yes” is a miniature sale right there and credibility boost)

Advisor:  “Love it, and let’s stay here for a second:  where is the house, what does it look like, how does it feel walking through the front door?  Paint me a picture.”

Prospect:  “White picket fence, 2.5 kids and a van”  Whatever they say lol, it doesn’t matter, just listen.

Here’s the punch:

Advisor:  “So, if we could build a plan of action, keep in mind that you stick to, that “quickly” and “effectively” accomplishes that goal “without” asking you to eat beans and rice for the next three years, would that be helpful?”

Prospect:  “Yes”  (OF COURSE they say ‘yes’ here! | another mini sale & cred boost!)

It seems silly, I know.  Without the right demeanor it comes off as demeaning.  

4 Words

would that be helpful?

Notice how “quickly”, “effectively” and “without” are italicized.

People want ‘quick’.

People want ‘effective’.

People want both ‘without’ much effort.  It’s human nature at its core.

THERE’S A CATCH

BUT:  This is the most important aspect of the question:  your delivery!

If it’s false in any form or fashion or feels pushy, salesy, etc., you will immediately lose them, all your credibility and any chance at business from them and/or their friends.

EMPATHY:  noun

The ability to understand and “share” the feelings of another.

Above all else, you must be confidently empathetic when you deliver this power phrase.

RESEARCH:

The American Psychological Association published an article in early 2019 detailing how people are avoiding empathy more now than ever because it feels like too much mental effort.  But here’s a quick fix:

Their studies showed that by simply telling someone they are good at empathy, that person is more likely to be empathetic.

So, there’s an easy way for you to increase your empathetic responses:  Tell yourself:  “I’m good at empathy.”  “I can be excited about what excites them.”  “I do care about their dreams and aspirations.”  Simple!

This is becoming more important because we are naturally moving more towards self-centricity…where all we really care about is ourselves…tell yourself everyday that you care about others!

So, my degree is in behavioral psychology from The University of Tennessee which was absolutely perfect for being a financial advisor.

Understanding social cues, mirroring dispositions and knowing how to move from the wrong behaviors towards the right ones (for a prospect’s/client’s benefit) are so key to higher closing ratios.  

But here’s the deal:  even without a degree in behavioral psych, you can quickly master this technique.

Try a few things in your next meeting:

  • Coach yourself before:  “I’m good at empathy” …etc.
  • Pay attention to how a prospect is sitting.  Slowly match them without being obvious.  If they’re leaned in, slowly lean in.  If they’re sitting back, slowly sit back, etc.  They’re subconscious mind says:  “this person is like me” (trust building 101)
  • Side note for male advisors:  If you’re meeting with husband and wife and you’re a man:  put the man beside you and the woman across from you.  Why?  Because men are more competitive when facing one another, rather than sitting beside each other.  You’ll have an easier time resonating.
  • Hold up your hand politely when you want to pause, and drop these phrases:

“Sorry to interrupt, but that sounds important to you, am I right?”

“So, if we could help you quickly and effectively {accomplish said goal} without {negative consequence}, “Would that be helpful?””

That’s 4 behaviors 

(empathy, mirroring, placement, interjection)

and 2 questions 

(“…am I right?” “…would that be helpful?”)

that can have a major impact on your credibility and your ability to acquire clients. 

CLOSING THOUGHTS 

Didn’t this previous phrase work, even just a little, on you?

“But here’s the deal:  even without a degree in behavioral
psych, you can quickly master this technique.”

You’re getting the ability to attain something that will drastically improve your practice:  ‘quickly’, ‘effectively (masterfully)’ and ‘without’ much effort.

That created some level of desire within you, maybe not much, but enough to move the needle, to keep you locked in.  You must do the same 10-15 times in every meeting.

You must deploy the same tactics when working with people.  Now don’t promise the moon, be reasonable, but be confident in your ability to make a positive difference in their life.

That’s why they’re sitting with you.  You must confirm a few things within their own subliminal, subconscious line of questioning.  

They’re asking themselves, whether they know it or not:  

Do I like this person?  Can I trust this person?

When you exude empathy, you connect emotionally which is becoming rarer these days, but this is wildly refreshing in their mind.  

There’s their first question answered.  Empathy leads to affinity.  They like you now.

Can I trust this person?  That’s the big one.  Here’s why “Would that be helpful” works:

That question accomplishes 3 things:

  1. You show them you’re listening and you heard them
  2. You show them you care about what they’re saying
  3. You show them you’re credible and can get the job done

Bonus:  ‘quickly’, ‘effectively’ and ‘without’ combined together create this overwhelming sense of desire to start moving towards that objective they just said was important to them.

Humans move towards objectives with the least amount of resistance they can find.

You just elicited affinity, you just built trust, and you just gave them a solution with little resistance. 

You’re the one in the room with them!  It’s easier for them to say yes to you, than go meet with another advisor somewhere else, that requires more work!

So, give them the path of least resistance. 

Build affinity.  Build trust.  Close the deal.

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COMPANY

About 

Careers

Contact

FAQs

LEGAL

Privacy Policy

Terms of Service

Security

Fee Arrangement

Guarantee

Compliance

RESOURCES

Training

Blog

Case Studies

SOLUTIONS

AutoEnroll

Speedy KYC

401(k) Contract

PMQ

Custom Work

© 2020 BA Platform Holdings, LLC. All Rights Reserved.

© 2020 BA Platform Holdings, LLC. All Rights Reserved.