The Advisor Institute: Coach's Corner
Converting prospects into clients, virtually

Practical messages intended to help you elevate the success of your practice.

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      By David RichmanNational Director, Eaton Vance Advisor Institute

      Many advisors we connect with these days are concerned with the difficulty of converting prospects into clients without meeting "face to face." If you share this concern, then perhaps this blog will dispel such self-limiting beliefs.

      Consider the comments below from a leading advisor at one of the largest firms in the country.

      "There is nothing new about volatility bringing do-it-yourselfers out of the woodwork. However, we are seeing a new trend, with our success rate for prospective clients' first meetings going up exponentially. Most first meetings with prospective clients these days are on Zoom - almost all of which end with the prospects asking: "What next steps do we need to take to get things moving with you?"

      During my conversation with this advisor, we brainstormed why this phenomenon is happening. Our conclusion: One of the byproducts of the pandemic is how comfortable we have all become making even major purchases like cars and entertainment systems with the click of the button. Perhaps this comfort level is also influencing how quickly prospects are willing to make decisions about hiring financial advisors after a quality virtual experience.

      Bottom line: This is your time to get comfortable going deeper in your virtual first meetings. You can still be face to face and just maybe our new virtual world has prospects willing to make swifter decisions.