Search
 

How to Gain Credibility in Cold Calling

Purdue University researchers Tim Christianson and Sharon DeVaney examined interpersonal relationships between financial advisors and clients. In particular they identified factors that facilitate a client's ...

By Staff Writer | Updated on September 01, 2007

Purdue University researchers Tim Christianson and Sharon DeVaney examined interpersonal relationships between financial advisors and clients. In particular they identified factors that facilitate a client’s feelings of loyalty. Of all the factors examined in their study, by far, the one that had the strongest influence on an advisor’s ability to win a client’s trust and commitment was communication.

Lesson Number One: The warm call – contacting your existing clients.

Having read that box above, let me tell you about two of our coaching clients who failed to learn that lesson and will likely carry guilt around with them for the rest of their lives because of it. In both cases, the market was turning down and their clients began to lose money – having followed these advisors’ investment recommendations.

In the first case, the advisor was responsible for his clients’ losing more than 50% of their holdings. That was several years ago. In the second case, our conversation with him was just within the past month. He still has not contacted his clients to discuss with them the current volatility. And, we’re still working on him to recognize his accountability.

Complete your profile to continue reading and get FREE access to BenefitsPRO.com, part of your ALM digital membership.

Your access to unlimited BenefitsPRO.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical BenefitsPRO.com information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
  • Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com

Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Recommended Stories

BenefitsPRO

Join BenefitsPRO

Don’t miss crucial news and insights you need to navigate the shifting employee benefits industry. Join BenefitsPRO.com now!

  • Unlimited access to BenefitsPRO.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
  • Exclusive discounts on BenefitsPRO.com and ALM events.

Already have an account? Sign In Now
Join BenefitsPRO

Copyright © 2024 ALM Global, LLC. All Rights Reserved.