The New School

Financial advisors are familiar with the sales model, which involves finding a need and filling it, but they often encounter resistance from clients who are skeptical of sales tactics. In contrast, the educational model focuses on providing true education that wakes clients up to issues and motivates them to find solutions. Rather than being a fisherman trying to hook clients, the advisor opens the net wide and allows clients to swim into their services voluntarily.

An effective educational process is critical to success in this model. Advisors must master the course material and deliver it in a relaxed, interactive setting. They should ask questions and listen carefully to clients’ responses to address specific needs. The use of stories can help bring clients into the conversation and make the educational process more engaging.

The educational model is superior to the sales model because it allows clients to become part of the solution process. Clients feel more involved and motivated to implement the changes they need. The educational model also fosters a collaborative, cooperative relationship between the advisor and client, rather than a transactional one. In a properly executed educational process, clients will ask to become clients, rather than the advisor needing to close the deal.

Financial advisors who want to shift from a sales model to an educational model should focus on developing their mastery of the subject matter and delivering it in an engaging, interactive way. They should be comfortable in their own skin and not be nervous. They should also be willing to incorporate stories into their presentations to make them more compelling. By adopting an educational model, financial advisors can build stronger relationships with clients and help them achieve their financial goals.

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