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Effectively handling objections is a critical skill for financial advisors. How they identify when clients may have issues, and how they conduct themselves in those situations, can have a meaningful impact on current and prospective relationships. At the onset, it’s important to spot clues that a client may have objections. These clues can either be expressed explicitly, or they can be implied.
We believe advisors should be aware of these clues. For instance, expressed objections can come in the form of explicit challenges, or deep questioning of an issue. Examples of implied objections may include silence about a particular issue, a vague “need to think about it” response, or a light-hearted joke about that particular issue.
To effectively manage these situations, we believe advisors may consider the “E.A.R.N.” model for handling objections.
Workshop to help you build business and drive sustainable growth in advisor practices. Contact your GSAM representative for more information.
