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New Survey Reveals Why Financial Advisors Fail


According to a recent survey by The Sales Career Training Institute, top financial advisors typically earn enough to hire staff with expertise in sales and marketing. The majority of financial advisors, however, are forced to rely on ineffective tactics like cold calling and running public seminars in order to generate new leads. Recent turnover statistics show that up to 68% of new financial advisors fail within their first year. Why do they fail?

New York, NY, May 24, 2005 --(PR.com)-- According to a recent survey by The Sales Career Training Institute, top financial advisors typically earn enough to hire staff with expertise in sales and marketing. The majority of financial advisors, however, are forced to rely on ineffective tactics like cold calling and running public seminars in order to generate new leads. Recent turnover statistics show that up to 68% of new financial advisors fail within their first year. Why do they fail?

According to Paul Borgese, the author of the newly released book, FEAR Selling For Financial Advisors, “Most new financial advisors are doomed to failure. Whether you are working for a large financial institution or if you are an independent advisor, you basically are running your own small business. You have to brand yourself, market yourself, and sell yourself. Unfortunately, many financial advisors whom we train don’t understand that they are in business for themselves. They have little formal sales training and limited marketing knowledge. They don’t know how to set up their own sales and marketing systems – but that’s exactly what they have to do if they want to survive in today’s cut-throat financial services arena.”

A 47-page excerpt of the results of the study titled The 7 Deadly Sins of Selling is available free at www.7SellingSins.com.

This survey on financial advisors – as well as several others focused on salespeople in other fields - was conducted in conjunction with the not-for-profit, Sales Career Training Institute (www.SalesCareerTraining.com), which enabled the researchers to observe over 14,000 sales calls and question buyers regarding their reactions to different sales techniques. In addition to interviews, the researchers conducted a series of 27 surveys over a three-year period to explore how to increase success in sales.

Select results of the study also are available free when you subscribe to the FEAR Selling Newsletter at www.FEARSellingNewsletter.com.

The complete FEAR Selling for Financial Advisors System is available as a 396-page book titled FEAR Selling for Financial Advisors: How You Can Attract More Clients Faster By Tapping Into Your Prospects’ Deep-Seated Emotional Needs. The book, which is available at www.salescareertraining.com/financialadvisors.html, includes over 168 field-tested sales techniques that have been tested across a wide variety of industries.

About The FEAR Marketing Group

The FEAR Marketing Group LLC (www.FEARMarketing.com) is a global consulting/training firm focused on sales strategies and online marketing techniques that have measurable returns-on-investment.

Contact: Paul Borgese, President, The FEAR Marketing Group, +1-201-533-9282 or paul@FEARMarketing.com.

To find out more about Sales & Marketing Expert, Paul Borgese, visit:
http://www.SalesCareerTraining.com/AboutPaulBorgese.html

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