Everybody knows that dials are not the be all and end all when it comes to measuring an internal’s performance. As in baseball, it’s not how many times you take a swing that matters; it’s whether or not you hit the ball. Read on…
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Be Interactive too! Follow us online at |  Who’s to blame?So why do hybrids sometimes fail? It’s tempting point the finger at the model and say that it’s not a good fit for our industry. From where we sit the culprit is more likely to be a deeply held belief about what it means to be a wholesaler or even a lack of understanding about how a successful hybrid model works. Because of this... Read on… Ask wholesalers to tell their product story and they’ll probably nail it. But will the presentation get the advisor to take action and move the sale forward? Only if the wholesaler has presentation alpha. Read on…  Wholesaler scheduling can be a real headache and aspirin won’t help… Read on…  Is there hope or should we send flowers?Sad to say, but sales coaching seems to be dying in our industry. Not because it’s a bad idea or because it isn’t effective. Research consistently shows that coaching increases sales results. And the problem is not that sales managers don’t want to do it. They do. So Why Are You Standing In the Teller Line?When banks introduced ATMs back in the 1970’s, consumer research was definitive. When was the last time you stood in a teller line? And how could the research have been so wrong? Is Duct Tape the Answer?Now, as the sun begins to rise on the economy again, many firms want to rebuild the effectiveness of their sales desk. The temptation is to just put some duct tape around the frayed edges of the old model and hope that things can get back to where they were. How Have your Wholesalers Adapted?We think that’s a waste of a crisis. This period of turmoil will produce winners and losers. The winners will be wholesalers who recognize that financial advisors are a different breed than they used to be, these wholesalers have adapted their approach to reflect how advisors have changed. Will they save the day or are you setting yourself up for failure?So why do some firms get only a fraction of the productivity hybrids can deliver? And why have others given hybrid wholesaling a try and then backed away from it? The most common cause seems to be a misunderstanding of what a hybrid actually is. Effective wholesalers have never been more important. Are some of yours swimming naked?….We’re not trying to make lemonade out of lemons, but the current bear market gives managers a unique opportunity to determine which of their wholesalers have positioned themselves and their firms for long term success and which could use a bathing suit. |
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