Five Cheap and Easy Seminars Bank and Credit Union Reps

A powerful solution for expanding business, deepening relationships with existing customers and members and providing value added services at a low cost!

By Patti Branco
March 8, 2006

Why host a seminar, and do they really work to generate business and good will?

With a little planning and some personal savvy, the answer is yes, if done correctly. This blueprint will show you the way to have an effective and profitable event at almost no cost!

The idea of presenting to a crowd could be daunting at first…but you might be surprised at the facts. The moment you stand in front of a crowd, whether to introduce another speaker or to take the floor yourself, you are the perceived expert. Don’t squander the opportunity to make a great and long lasting impression. It’s important to remember that like any other sales call, a seminar requires that you close, or ask for the order.

Let’s drill down to the primary reason for hosting a seminar: Getting qualified people in front of you, right? Taking that to the next step, what do qualified prospects want?

They don’t want all the fluff and fan fare that so many advisors offer at grand and lavish seminars; most want a benefit, pure and simple. Sometimes they want the interaction with others. Never forget your reason for the seminar in the first place! Read the entire article or listen to it online.

17 Marketing Ideas to Reconsider

By Patti Branco
March 1, 2006

Listen to an interview with Patti here.

If the same old thing isn't bringing in results, maybe it's time to vary your strategy. Advisors use a variety of ways to get themselves in front of some new prospects.

If the market uncertainty has you paralyzed with procrastination, shake off your indecision by doing something different. While others stare at their computer screens and whine about not getting enough referrals, you can get busy! Try some of these proven, and unusual, ways to promote your services after making sure your planned activity is in sync with your marketing and compliance folks!

  1. Become a teacher. Give back to your community and get a captive audience at the same time. Apply to your local college or adult school and offer to teach a class on investing. They are always looking for new talent, you don't have to be a professor, and you will find that people who attend a class on how to invest usually have the funds to do so!
  2. Affinity markets. Do you have a favorite hobby like golf, fishing, sailing or skydiving? Do you have expertise in a former industry where you once worked? Those should be your first targets! Look into every aspect of their interests and affiliate yourself with relevant associations, read their magazines, know their pain, become the "niche" expert.
  3. Write articles. Get some press and credibility by submitting articles to your local paper. Don't think you are the best writer? Write a draft and have it edited by a local copy editor. It is a well-kept secret that local newspapers are usually in need of articles, particularly in these difficult times, and will welcome a submission from a local investment expert. Read the entire article.

Turn On Branch Referrals

Ask staff “Why is it important that we make referrals?”
It’s good for
• Client- benefits by learning about other product options
• Financial Center— increases client cross-sell ratio
• Bank— improves client retention and client loyalty
Briefly present a simple definition of a fixed annuity, Do NOT go into any product
Say: “I want to provide some information about the fixed annuity products I sell. It
is important to remember than non-licensed bank employees cannot discuss fixed annuity products or features with clients.”
Read the entire article.

Upside Potential - Downside Protection

While many of your customers are likely aware of the improving market conditions over the past year, a significant number of them may also be harboring bad memories of investment losses during the recent bear market. As a result of this trend, we have seen fixed index annuities (FIAs) emerge as a solution to meet the needs of these customers. Read the entire article.

The right fit for that $41 trillion transfer of wealth

 By Richard Hotham, Vice President, Financial Institutions, Liberty Life Assurance Company of Boston

Our country is in the midst of the largest intergenerational transfer of wealth in history.  Researchers say nearly $41 trillion will change hands in the United States by the year 2052, as Baby Boomers pass on nest eggs to the next generation.

While affluent Americans can easily avail themselves to sophisticated and costly estate planning counsel, they are not alone in their need for financial wisdom.  Millions of middle-class consumers are looking for direction on how  best to care for the next generation.  In fact, many of them are probably customers at your bank right now. Read the entire article.

Making the Most of Your Customer Meetings

Whether you are meeting a prospective customer for the first time, or holding a periodic review of an existing customer, it is always a good idea to plan ahead for the meeting. It is up to you to set the expectations for the meeting, in a thoughtful and professional manner. One of the best and easiest ways to make sure your meetings are as productive as possible, is to confirm in writing with your customer the meeting’s date, time and location, and also to remind him or her to bring along all of the financial documents that you need to review in order to provide the best service and advice.

The following Pre-Appointment letter can be printed, reviewed by your Compliance department, and sent to your customer a week or so before your appointment. It is always a good idea to follow up with a phone call a day or so before the meeting, to re-confirm as well as remind to bring all of the documents. Don’t be afraid to tell your customer why you want him/her to bring the documents-remind them that the documents are their “financial symptoms”, and will help you make the proper diagnosis!

Download Pre-Appointment Template (Word format)

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