"The 'Soft' Close and the 'Hard' Close - a time and a place for each

In helping the prospect to overcome objections, we've been asking affirming questions (called a 'soft' close). It's somewhat like affirming "are you with me?" when speaking in a group, but specifically focused on potential objections to the wealth management sale.

Going to a 'hard' close entails leap forward. First, you've got to be certain that the prospect's objections have been overcome, and, even prior to that, that you've created a desire on the part of the prospective client for you to manage their wealth.

Before getting to the close, do this: expect to win-over the prospective client

You've got to have the proper closing attitude. Expect to close. Assume that the prospective client wants to be on your team, a winning team. Then, and only then, can you select the "right" closing method. Remember, they all end in questions.

First two of five closing methods

Direct method: For many advisors, this method takes a lot of courage. Simply, ask the question, ask for the business. Like, "may I put together our team to work with you?" Or, "shall I start on your financial plan?" Or, maybe, "do you have an inventory of your assets such that we can get started?"

Minor point method: Ask a what, when or how question that involves client commitment. Maybe something like "When may you and I meet with your accountant (or family, or spouse)? Or, perhaps, "How soon do you want me to get our engagement agreement back to you?"

Next post: Three more 'hard' closing methods...