How to Successfully Partner with Corner Office Advisors with Richard Weylman

Big game hunting.

In our world it’s the ‘corner office’ advisor, the object of every wholesaler’s affection.

And if you are able to successfully bag a partnership with this most elusive producer you can change the trajectory of your practice.

The question is: how do you do it?

Richard Weylman is in the Professional Speakers Hall of Fame, the recipient of the Council of Peers Award of Excellence (CPAE) and is a Certified Professional Speaker (CSP).

Richard has a worldwide reputation for helping clients better understand how to make the changes necessary to attract and retain new customers, as well as the right talent to elevate business performance.

As an impactful keynote speaker and workshop leader Richard will bring his expertise to your audience, blending timely and provocative research with the right amount of humor and inspiration they can take away and use immediately.

He has delivered over 2,500 keynote speeches on four continents to audiences of 20 to 40,000 and is a master at tailoring his presentations to the specific needs of your audience.

Click here to get more information about Richard Weylman.
To inquire about Richard for your next event through Wholesaler Masterminds Speakers Bureau contact us at info@wholesalermasterminds.com

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So WHY Should I Do Business with YOU?

Having had the privilege of coaching hundreds of advisors as well as having partnered with many wholesalers and firms as their sponsored speaker at many complex, branch  and industry events, I have experienced first-hand how advisors select wholesalers and their products and services.

Wholesalers who excel in today’s environment recognize that advisors are over-marketed, are reluctant to engage and certainly don’t need another option.

What Top Wholesalers Know

Consequently top wholesalers are focused on setting themselves apart from all others by positioning themselves as a partner who delivers an outcome not just a provider who delivers a product.

Top wholesalers know advisors want an over-arching upfront promise of outcome before they will engage with them.

Unfortunately, in my discussions on this topic with advisors and from observing many wholesalers most answer the “WHY should I do business with YOU” question with responses that do not connect with the minds, emotions or the business model of the advisor. Advisors do not care that you have:

• Hundreds of advisors using this product
• A unique approach or platform
• Top ratings
• Consistent returns
• Proprietary research
• Or dedicated support

Why Most Wholesaler Reasons to Engage Don’t Work

Advisors today only care about and relate to their perspective, which is the answer to these two questions;

• What am I able to accomplish by doing business with you?
• How can my clients and I benefit?

Advisors want to solve problems, grow their business or solidify client relationships. They don’t want to just add another offering to their portfolio because of a list of attributes wholesalers or their product team think are compelling.

Here is What Top Advisors Say is the Reason Why They Work with a Wholesaler

Having asked several top level advisors in the advisory and insurance sectors why they do business with a particular wholesaler here are actual statements they made.

“She always gives me the marketing support I need to grow my practice.”

“My insurance broker always helps me get tough cases through underwriting”.

“My mutual fund guy always makes sure I have the latest tools and ideas to grow my business.”

“He always brings me new ideas he has learned from his work with others.”

Not a word about product, platform, and process only words expressing high level outcomes they receive and achieve.

So how about you- How do you answer the WHY question?

When you’re asked WHY should I do business with YOU are you marketing and selling features and attributes which invites competitive comparison and disengagement?

Are you positioning yourself as a partner or a provider?

To place you on the path to greater engagement as well as marketplace distinction follow these 4 steps:

Step 1 – Ask your ten best advisor clients, “WHY do you do business with me?”

Step 2 – Then immediately ask them, “Why is THAT important to you?”

Step 3 – Capture their answers to the second question (Why is THAT important to you?) and choose the one that best represents the outcome you provide to your best clients.

Step 4 – Then when you’re asked “What do you do or Why should we meet or Why should I do business with you? Give your answer this way:

I am with (name of firm) and I enjoy what I do because my advisors clients say I (insert the reason from step 3 that best represents the outcome you provide).

Nearly every time the response you will get is “interesting, how you do that?”

This provides you the opportunity to then meet for 15 minutes to introduce yourself professionally as a partner not just a provider.

Of course when you get that initial meeting be true to your promise and your partnership position by following the flow below.

First, introduce yourself and your firm as a partner not a provider.  “I am with (name of firm) and I enjoy what I do because my advisor clients say (example only) I help them grow their business by providing the sales support they need. BUT BEFORE WE GET TO ALL OF THAT, tell me about your practice.”

– How long have you been here at the firm?

– How many people are on your team?

– What do you see in the future for your practice?

Second, then ask a broad question to get specific answers.

Examples:

• What are three things you look for when selecting an investment or insurance/annuity products for your clients?
• What are three things you want to accomplish for each of your clients to keep them for the long-term?
• What are three things you would like to do this year to refresh and position your portfolio for the future?
• What are three things you would like to improve upon to grow your practice and your profitability?

Third, be sure to further engage their interest and commitment to solve, “If I can show you ways I can help you grow your business or solve some of the issues you’ve articulated, is there any reason why we can’t do business?”

In summary, to be a top wholesaler in this over-marketed, “I don’t meet with wholesalers” environment, position yourself as a partner not just a product provider and you will engage and excel. Go forth and knock em’ alive!

Written by C. Richard Weylman, CSP, CPAE

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