Screening calls are a common part of the prospecting process for financial advisory firms, especially those that receive a large number of inquiries, to help determine if a prospect is a good fit. At the same time, such calls can be awkward for both prospects and customers. and The Advisor may be asked to discuss personal information about his/her finances with someone the Prospect has not met before, and the Advisor may ask whether the Prospect meets the company’s minimum wealth requirements, etc. Because you may ask difficult questions. As such, phone screening carries significant risk (not only does it serve as the first step in a prospect becoming a client, but it also saves the advisor time by screening unqualified prospects). helpful). You should prepare your prospects and ask thoughtful questions. Screening call questions during an interaction makes the process more productive and less annoying.
One way to reduce potential anxiety associated with screening calls is to prepare prospects in advance. For example, an advisor who uses an online software tool to schedule a screening call may provide the prospect with a detailed description of the meeting (including a list of questions to be asked) in advance, as well as information about company assets and fees. A minimum amount (i.e. this allows prospective customers to screen themselves before scheduling a meeting rather than finding themselves ineligible during the call). That way, prospects are less likely to be surprised by questions during the meeting, and advisors can make sure prospects meet minimum requirements instead of bringing up issues without warning. Additionally, providing questions ahead of time (giving prospects time to think about their answers) will help keep the screening call on track. This is especially important as screening calls are designed to be short, often scheduled for only 15-20 minutes.
Among the questions an advisor might ask a prospect during a screening call is how they think the company can help meet their needs (if the adviser believes the prospect really wants financial planning services? whether you have worked with a financial professional before (have worked with an advisor in the past); and to understand the prospect’s expectations for that relationship). If you have any questions about the Advisor onboarding and planning process, and if the minimum amount of company assets and/or fees will work for the prospect to keep track of schedules).
Ultimately, the bottom line is that screening questions can be a useful tool not just for financial advisors, but for prospects as well. It’s beneficial for both parties involved to know if a relationship is right for them without spending an hour or more. And while phone screenings can be uncomfortable and awkward, letting prospects know what to expect can help ease those feelings with a promise of respect, candor, and information. That way, you might be able to successfully get a relationship back on track that could be a long-term relationship.
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