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Camp Connelly is designed specifically for you - the Financial Advisor. With more than forty years in the business Don Connelly has done it all. Now, he’s sharing his wisdom, insight and experience with you. Learn to overcome objections, stay motivated and win clients efficiently and effectively.
February 2009 Sales Idea: Market Declines Are Not the Problem. Doubt Is the Problem.
We have just come through perhaps the worst six months in the history of the United States stock market. In an incredibly short period of time, our clients have sustained dramatic losses, both real and on paper. Retirement plans have been put on hold. Personal sacrifices have been made. Wounds are being licked. It all begs a question. Whose fault is it anyway?
Are we to blame? There are certain people out there who would like to lure away your clients by convincing them that it’s your fault. I saw a prominently displayed brokerage firm advertisement in the Los Angeles airport today that read, ‘I have a lot less money. And a lot more questions.’ That is not exactly an ad that Merrill Lynch or Wells Fargo would run. My immediate interpretation was that the ad is an indictment of financial advisors. We certainly must have a lot more questions not only to, but also about, our financial advisor.
That’s an interesting concept. Are we at all to blame for our clients’ losses? Should we have seen it coming and should we have better prepared our clients for the tsunami? Are we paid to predict the weather or to react to weather? How much guilt should we feel?
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