My client doesn’t want to buy this: Have you ever come across a doctor asking you ‘Bhai sahib ye dawa thodi kadwi hai, aap khayenge kya please (This medicine tastes a little bitter, will you take it?)’ The advisor needs to know the client’s objectives and work around it. Definitely the client needs to make understand the product and the rationale behind the prescription.
Which fund is the best for SIP?: I find it the funniest of all. After seeing the performance of SIPs over 15 years and seeing the winners rotating, why does one need to ask this question?
I don’t sell: The statement itself suggests that you are selling yourself. Don’t run away from the word ‘Sales’, selling is not ‘SIN’, mis-selling is. A good sales person is a great solution provider. There is a sales person in each one of us.
I don’t ask questions: The best excuse I am not a sales guy, I don’t ask questions to get more sales. I see two reasons in that - one the advisor doesn’t know probing technique and second, which is a bigger reason ‘There is a fear of losing the client’. Justice to the portfolio can’t be done unless the advisor knows the client properly.
My client remains with me: He just needs to come across a better option. That could be in terms of brand, value, service, hygiene factor etc. Engage as much as possible with the client. Become an extended member of the family. So, even he looks for option he will check with you.
Clients don’t give fees: Clients don’t give fees to them who don’t value their own services. If advisor believes there is great value add in the services provided by him, there is no reason why client will not pay the fees.
I can handle all kinds of clients: Can a great gynecologist become a good pediatrician? ‘NO’.A chemist can provide drugs to all kinds of patients, he doesn’t need client segmentation. But a chemist can never become a doctor, even after selling medicines for 40 years.
Market kya lagta hai- This is the most common question. The fact is majority of the fund managers track companies not the market. Your client’s objectives need to be achieved, whichever way the market moves.
It is very important to ask right questions to get the right answers.
The views expressed in this article are solely of the author and do not necessarily reflect the views of Cafemutual.