An Example of a Cold Call from Another Financial Advisor
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This document provides an example of a cold call sales script for a wealth management firm. The script guides the salesperson through introducing themselves, asking questions to understand the customer's needs and pain points, providing value propositions and examples of how the firm can help, and attempting to schedule a follow up meeting. The goal is to qualify the lead, build interest in learning more, and potentially close the customer for a presentation. The document also discusses sales methodology and how the SMART sales system can provide tools and services to help salespeople improve their process and messaging.
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An Example of a Cold Call from Another Financial Advisor
- 1. Cold Call Demo Example Wealth Management
- 2. How are you doing today? Have I caught you in the middle of anything?
- 3. My name is XXX and I am with XXX. I wanted to introduce myself and extend myself as a resource to you. Have you ever heard of us at XXX? We are an investment and advisory firm we help individuals and families plan for their financial goals also help them manage their 401Ks/IRAs. ”All About Me” Frame of Mind Product Selling Make it “All About Them”
- 4. Product Selling Consultative Selling Company Product Features Pricing Goal: Get Customer Benefits (Value) Common Problems (Pain Points) Problems Probing Questions (Pain Questions) Customer Examples (Name Drop) Features, Differentiation, ROI, Bragging Points, etc. (Product / Company) Goal: Starting Conversation
- 5. Do you currently partner with a financial advisor today? Good current environment question Better questions to ask – pain questions
- 6. I already work with someone today.
- 7. Who do you work with? I know that group, that’s cool. Good response
- 8. What do you enjoy about your relationship with that advisor? Is it just kind of a returns type of a situation? Correct direction with questions Better way to ask
- 9. Would you be open to a second opinion and seeing how we do things over here? Wrong time to ask this question
- 10. I am not looking to make a change at this time.
- 11. Sales Process
- 13. Initial Contact CONVERSATION EXPLANATION INTERACTION Types • Cold calls • Cold emails • Networking • Inbound calls • Inbound emails • Website chat • Social media Structure • 2 to 5 minutes • 80% on prospect • 20% on you Goals • Pre-Qualify • Build interest in talking more • Close for meeting Questions • Pain • Current Environment
- 14. INTERACTION Meeting EXPLANATION CONVERSATION Types • Appointment • Online meeting • Meet for coffee, drink, food • Extended cold call • Meet at event Structure • 10 to 60 minutes • 50% on prospect • 50% on you Goals • Qualify • Build interest in learning about your product • Close for Presentation Questions • Pain • Current Environment • Qualifying
- 16. INTERACTION CONVERSATION EXPLANATION Types • Presentation • Demonstration • Proposal • Quotation • List of options Structure • 30 minutes to 2 hours • 20% on prospect • 80% on you Goals • Qualify • Build interest in purchasing your product • Close for purchase Questions • Pain • Current Environment • Qualifying • Closing
- 17. INTERACTION CONVERSATION EXPLANATION Don’t try to sell the product here
- 18. INTERACTION CONVERSATION EXPLANATION Try to sell the Conversation in the Interaction
- 20. Hello, [Contact’s Name]. This is [Your Name] with [Your Company]. Have I caught you in the middle of anything? Value Prop Pain Points Pain Questions Current Environment Questions Name Drop Product Introduction Close
- 21. Great. The reason for my call is that I help business owners to: • Develop a successful investment plan and strategy • Improve their decision-making regarding investing • Establish true financial freedom • Increase personal wealth • Get their money working harder to increase the rate of return • Minimize their exposure to taxes • Decrease the amount of financial stress in their life • Improve their quality of life and work-life balance But I am not sure if we can help you in the same way and that is why I am reaching out with a question or two. Value Prop Pain Points Pain Questions Current Environment Questions Name Drop Product Introduction Close
- 22. • How do you feel about your current plan or strategy for your personal investments? • Do you currently have a plan or strategy? • Do you feel like you know what to do regarding your investments? • Are you aware of the different investment options that are available to you? • How much of a priority is financial freedom for you? • Do you feel like your current plan and strategy will lead to wealth and financial freedom? • Are you interested in ways to minimize the amount of taxes that you have to pay from the money you earn? • Do you think your level of stress about finances is normal or above average? Value Points Pain Points Pain Questions Current Environment Questions Name Drop Product Introduction Close
- 23. • Are you currently working with any type of financial advisor or advisory firm? • How long have you been working with them? • How is everything going? • How happy are you with the return that you are currently seeing on your investments and savings? • What are some things you think could be better? • When was the last time you looked at other options in this area? Value Points Pain Points Pain Questions Current Environment Questions Name Drop Product Introduction Close
- 24. A lot of business owners I work with have concerns that: • Don't have a good plan or strategy for investments • It can be difficult to know what to do with investing • It is difficult to achieve financial freedom • Not getting the best possible rate of return from investments • Taxes taking too much out of the gains from investments • Personal finances can cause a lot of stress in everyday life • Not able to fully enjoy life from working too much and having stress from personal finances Are you concerned about any of those? Value Points Pain Points Pain Questions Current Environment Questions Name Drop Product Introduction Close
- 25. Based on what you shared, it might make sense to talk more because these are the areas that I help with. As I mentioned, I am with [Company Name] and I provide: • Financial planning • Investment advice • Retirement planning • Portfolio management Value Points Pain Points Pain Questions Current Environment Questions Name Drop Product Introduction Close
- 26. • I worked with a small business owner and developed a new investment plan and strategy. • Not only was I able to improve returns by 17%, but I also decreased the amount of time that she had to spend managing her investments. Value Points Pain Points Pain Questions Current Environment Questions Name Drop Product Introduction Close
- 27. But I have called you out of the blue and I am not sure if this is the best time to discuss this. Are you interested in discussing this a little more? Are you available for a brief 15 to 20-minute meeting where I can share some examples of how I have helped other business owners to: • Generate an extra stream of revenue • Have a tool to recommend in the area of proposal Are you available on Tuesday or Thursday morning? Or are you available to continue talking about this now? Value Points Pain Points Pain Questions Current Environment Questions Name Drop Product Introduction Close
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- 32. SMART Sales System Sales Methodology Software Platform Professional Services • Sales Message Builder • Sales Scripts • Email Templates • CRM Functionality • Email Automation
- 33. SMART Sales System Sales Methodology Software Platform Professional Services Sales Consulting • Sales Pitch Development • Sales Process Mapping • Script Assessment Sales Coaching • One-on-One Sales Coaching • Weekly coaching • Coaching Hour Blocks
Editor's Notes
- Before we go any further, let’s clearly discuss what objections are. Objections are a prospect’s best weapon when they answer your cold call. They are statements or questions that the prospect will throw at you and they are like mini stops signs that the prospect will hold up. They use to try to take a control of the call and take it in a direction of their choosing. And if they begin to feel like you are selling something when they are not looking to buy, they will want try to end the call and will use objections to get there as soon as possible. Now let’s take a look at common objections and ones that you are just about guaranteed to run up against. I am busy right now. Who are you with? What is this in regards to? I am not interested. Just send me some information. We already use somebody. We are not looking to make a change right now. We do not have any budge to spend. Those are eight objections that consistently come up. You could maybe tweak those for your situation, and add a couple that are specific to your products, you would have a complete list of objections to be prepared for. As part of this training, we will explain these one at a time and show you how to get around them.
- Before we go any further, let’s clearly discuss what objections are. Objections are a prospect’s best weapon when they answer your cold call. They are statements or questions that the prospect will throw at you and they are like mini stops signs that the prospect will hold up. They use to try to take a control of the call and take it in a direction of their choosing. And if they begin to feel like you are selling something when they are not looking to buy, they will want try to end the call and will use objections to get there as soon as possible. Now let’s take a look at common objections and ones that you are just about guaranteed to run up against. I am busy right now. Who are you with? What is this in regards to? I am not interested. Just send me some information. We already use somebody. We are not looking to make a change right now. We do not have any budge to spend. Those are eight objections that consistently come up. You could maybe tweak those for your situation, and add a couple that are specific to your products, you would have a complete list of objections to be prepared for. As part of this training, we will explain these one at a time and show you how to get around them.