What Would You Tell a Sales Advisor in the Field?

Your sales advisors are about to head out to do business. What would you tell them? Following are some responses from heads of practices and experienced advisors regarding their words of wisdom to those in the field. 

Knowledge

They emphasized the importance of knowledge. “Be an expert in fundamentals, such as volatility, dollar cost averaging, risk management and allocations,” says Bill Fisher, Director of Business Development, PenServ Plan Services, Inc. Phil Kim, Founding Member and Managing Director of Signature Wealth Concepts, has a similar suggestion: “Do the research on market volatility, and talk about this with your clients in light of what is going on.” 

“Educate, educate, educate,” says Nathan Glassey, Vice President, Non-ERISA Retirement Services at National Benefit Services, LLC. “Remember that in working with an employee, education is the key. The more they know, the more the value you have provided, and the better off they are in preparing for a successful retirement,” he adds. 

Communication

If one has knowledge and is to educate, as well as gain new customers, one must communicate effectively. Toni Whaley, a financial planner with PlanMember, suggests using personal touches “to keep your name fresh in potential customers’ minds.” She advocates varying the means by which one delivers those personal touches, for instance, e-mail, phone, landing page links, etc. “And spread out your use of such communications over a two to three week period to capture attention at more convenient times,” she adds. 

Fisher argues that one should keep it simple. “Don’t complicate things at a time when everything else has become complicated,” he says. 

And remember the importance of flexibility in how you communicate, says Linda Segal Blinn, Vice President of Technical Services for Tax-Exempt Markets at Voya Financial. Fisher agrees, adding that it’s important to be flexible regarding meeting times, locations and duration, as well whether those meetings are in person or are virtual.

Technology

“Don’t be afraid to embrace the digital world to improve efficiency and satisfy safety requirements,” argues Whaley. She offers some specifics: 

• use technology for document submission as much as possible and for meetings in order to reduce time spent in travel;
• accept e-signatures;
• offer digital support and educational information as opposed to presentation on paper and flyers; and 
• if you can, have a place for the employee to “go” rather than relying on e-mails—for instance, a landing page or published documents link, or create a QR Code or a phrase that will draw people.

Be Sensitive

In the process of communicating, selling and educating, it is important to be sensitive in a variety of ways. “Be supportive. Every now and then, your clients/prospects need positive reinforcement. Now is that time to remind them that you are on their side,” says Fisher, adding that one needs to be patient. 

The experts remind that an advisor in the field needs to adjust to the situation concerning the pandemic. Their suggestions include:

• Be respectful of the employee’s space—exercise social distancing.
• Wear a mask; also, be aware that people have varying opinions on the mask/no-mask guidelines.
• Bring hand sanitizers to each of your appointments.
• Drop off a box of hand sanitizers, as a sign of goodwill.

“Be sensitive to the fact that many households have seen their incomes go down during the pandemic. Be sensitive to the fact that many individuals know of someone who passed away from COVID,” Kim says. “Be sensitive to the fact that everyone is a little “on edge” with the new environment that they are working in,” Fisher adds, suggesting, “Take extra care to listen to your clients and prospects. Their biggest concerns right now may not include retirement planning.”

And Glassey reminds that it is important to follow the school district’s policies concerning solicitation.