Winning the Relationship Advantage

Personal differentiation is the key to beating out all others vying for a prospect's business. In Wealth Management, success means coming in first in the customer's beauty contest. Coming in second is practically the same as losing altogether. First place goes to that person who distinguishes him/herself above all others.

This session enables participants to consistently win the client acquisitions competition because they know how to demonstrate that they can look after their prospect's total well-being better than anyone else out there. That well-being goes beyond just financial advice. It also encompasses all the aspirations a client holds dear. In almost all professional interactions, it is this personal edge that makes the difference. It lays out a strategic methodology to building professional relationships from the interpersonal perspective, in addition to the obvious business perspective. It teaches people how to do the things that engender trust and loyalty - values that go beyond products, services and business solutions.

Winning the Relationship Advantage gives participants those skills that help them to consciously build the trust and loyalty that are the dominant influences in the wealth advisor selection decision. It demonstrates how to eliminate the barriers that people construct to keep out intrusion and exploitation, and it teaches participants how to appeal to others through actions that promote affinity, cooperation and generosity. Participants will leave this program with the ability to identify a customer's inner drivers and then incorporate them with their functional business offerings. This combination enables them to create a personalized value proposition that appeals to the customer's internal, as well as external, decision drivers. This ability to fulfill both a client's financial and the aspirational needs becomes the critical differentiator that causes them to choose you.

16-Nov-2012 -- 16-Nov-2012St. PetersburgUSD$1575
NY Institute of Finance - St. Petersburg9:00am - 4:30pm Instructional Method:
Group-Live
Instructor(s): [ James Mirenda; ] Fri Level: Basic

CPE CREDITS
7.0
All wealth management professionals that want to become the premier advisor above all others; veteran advisors that want to improve their sales abilities; new advisors who want to develop success attributes that will shorten the time it takes to develop their practice; institutional sales people who want to increase their ability to increase their share of the clients' wallet.
No advance preparation required.
Students will be able to:
  • Increase their success rate in both getting the first meeting and actually signing the client
  • Reduce most of the discomfort of the sales and solicitation process for the prospect, as well as the advisor
  • Eliminate customer resistance and dramatically shorten the time it takes to win cooperation
  • Earn trust and build loyalty, and use them to facilitate execution
  • Gain balance in the buyer/seller dynamic
  • Gain admission, acceptance and trust from nearly everyone they can get in front of
  • Create a favorable atmosphere for communication, cooperation and collaboration
None.
Session 1
Fundamental Principles of Relationship Development
  • Dynamics of the relationship development process
  • Correlation of leadership to salesmanship
  • How to capture the relationship advantage
  • Understanding how people make decisions about other people
  • The relationship advantage prescription
  • Understanding the value of partnership in the relationship development process

Strategies and Tactics to Differentiate and Demonstrate your Personal Value

  • Earning and using trust and loyalty
  • Gaining access and familiarity
  • Creating a compelling persona
  • Eliminating the fear of exploitation
  • Building and using personal currency
  • Applying the partnership formula to build relationships
  • Using care and advocacy to elicit affinity
  • Tactics for consciously building trust and loyalty

Understanding the Client and Composing a Customized Relationship Strategy

  • Going beyond traditional business interaction to create professional relationships
  • Designing a personal value proposition that integrates both functional and aspirational influences
  • Strategic relationship planning model

Clients who register for this course will receive a complimentary 4-month subscription to FT.com. The Financial Times is the world's most respected financial newspaper, providing a broad assessment on finance, business and the industrial sector. The move to the electronic version follows an ongoing review of our environmental responsibilities as a global business and as part of the Pearson group. FT.com also has features that are not available in hard copy, such as: Special Reports, Alphaville, editor blogs, education sections and much more! Subscriptions will start within 6-8 weeks of the start of class and are limited to one subscription per client. (Please note: as of May 1, 2011, the electronic subscription replaces the hard-copy 3-month Financial Times subscription.)

Lunch is included for all students taking day classes.