How advisers can boost their client IQ and sales

In order to attract better clients, advisers must first know and understand themselves.

It’s common knowledge that the key to success as a financial adviser is to know and understand your clients. But what many advisers fail to recognize is that in order to boost their client IQ, they must first know and understand themselves.

This form of self-awareness is also referred to as emotional intelligence and it goes beyond recognizing your emotions and physical presence. Emotional intelligence includes connecting with your values, motivations and overall purpose in life. It also allows you to recognize and manage the emotions of others.

These tips can help you develop your emotional intelligence, boost your client IQ and allow you to have greater impact on the lives of people that matter to you. As this happens, you reap the benefit of increased sales.

Hold your tongue. Developing deeper relationships with your clients and prospects starts with listening. It is easy to get so caught up in your passion that you end up talking and not listening to your clients’ and/or prospects’ needs and goals. It’s time to close those mouths.

Now, actually listen. If your mouth is closed while a client or prospect is talking but you are in the process of formulating a response to what they are saying (before they finish speaking), then you aren’t really listening. Instead, you are missing out on what’s important to them, understanding their true objections and feelings. Make a new rule — in every meeting listen 70% of the time and speak only 30%. Always remember: The sweetest sound to prospects’ and clients’ ears is their own voice, not yours.

Learn one new thing. Commit to learning one new piece of information at every face-to-face meeting. We can easily get set in our operating rhythm and assume we have a great handle on what’s going on in the lives of our clients and prospects. Instead, probe about their FORD:

<•>Learn something new about their Family.
<•>Learn one new thing about their current Organization.
<•>What people do outside of work is usually more important than their job so learn what they do for fun: Recreation.
<•>Lastly, explore their Dreams.

These are not starter questions for a prospect, but something you work towards as you develop a relationship. Many times you think you know what a client’s dreams are, but things change over time. The FORD analysis will allow you to develop a deeper connection with your clients and prospects and may also open the door for you to provide better strategies.

Curb your emotions. Because of our passion, we may be boiling, tense or uneasy under the surface because of what someone says or how they react. Emotionally intelligent people are aware of their personal reactions as they happen and control their emotions. By controlling what you are feeling, you will be more positive, productive and constructive in your response. By being in control you can respond based on your belief systems. Leaders master this very difficult art over time.

Make a change if you aren’t happy. Life really is short. If you are unhappy, take the risk and change. You don’t have to quit your job, but maybe you take concrete action steps like building out your network through LinkedIn or joining a center of influence group that better represents your values. Start planting the seeds of opportunity. Once the seeds start sprouting, new opportunities will start blooming.

Look in the mirror, not out the window. A leader once told me, “If things are not going the way you want, look at the person in the mirror. Don’t look out the window and blame external forces.”

Commit to bettering yourself by becoming self-aware and engaged with your family, friends, clients and prospects. Increase your emotional intelligence, and you will harvest the rewards of deeper connections and increased sales.

John Pierce is the author of “Sell More and Sleep at Night.” He spent more than 20 years at Merrill Lynch and Ameriprise.