The Last Free Lunch On Wall Street
You don’t build a practice by denigrating your prospect’s current advisor. In Supernova we suggest you talk about what you do, demonstrate that you do it and let the prospect compare your brand with what they are now receiving.
A great example is being in front of a prospect and asking the differentiating question, “How often do you rebalance your portfolio?” Many of your best prospects do not have an advisor who rebalances regularly. What happens when a portfolio is rebalanced? According to studies, rebalancing a portfolio back to its proper asset allocation on at least an annual basis reduces risk and increases return.
How many prospects and clients have said “I want a better return but I don’t want to take any more risk?” Now you have a way to have this conversation by asking the rebalancing question. Reduced risk and increased return sounds like a “free lunch” to me.
Sharing ideas like this is a great example of the way our clients and website members regularly offer tips and techniques to their peers. If you're not a member already, join the Supernova Advisor Community today. We will help you build a client-focused practice that is truly positioned to grow year after year.