There are a variety of working styles and strategies represented by the top 50 bank reps, but some themes stand out that have helped keep them above the cut.
The best bank reps place a special emphasis on service. This involves listening to clients and understanding what they are there for.
Everyone wants to be heard so listening and hearing are in and of themselves gifts to your clients. Moreover there's no way you can give them the right services if you're not hearing what they need.
Critical to advisor success is also taking a stand, a position in difficult markets and leading clients through them. Reps do this by making perspective key to client management in two ways.
The first is by plotting strategy in the context or perspective of the client's individual circumstances so that clients can stay focused on their own long-term goals even as the market gyrates. A long-term plan of some kind has helped our top reps cut down on the background noise, avoid the hype, and keep clients on a more or less even keel.
The second kind of perspective is a historical perspective. Top reps educate their clients enough about markets to manage expectations, so that they understand bear markets will come and go. This too will help keep clients on a steady course. When advisors can teach clients to expect bear markets, and how market cycles typically work, to buy when stocks are cheap, and stay invested for the long term, that too will help them stay calm and build trust.
Educating clients about their financial life goals has helped our top advisors keep clients focused on their own long-term progress and educating clients about the markets have helped them keep clients invested, even buying into the bear market.
Clients who have seen the markets come back are now indebted to those advisors for helping them do the right thing. You can¹t buy that kind of trust.