As a financial advisor, how you describe what you do, can be the difference between a quick sale… and a quick exit.
When you have an astoundingly interesting elevator speech, you can hook people instantaneously. Your goal is to get them to say, “How do you do that?”
If you think about it, as a financial advisor or insurance agent, how do people know what you do? You don’t wear a label they can read that tells them what you do…and if you let them make up their own minds about what you do…they are probably going to lump you together with all of your competition!
The reason an “elevator speech” is called an “elevator speech” is because it should take no more than the time one might have with someone in an elevator. If it takes you much more than 30 seconds your elevator pitch is too long and you may have just lost your chance.
Now an elevator speech is not “I’m a financial advisor” or “I’m a retirement specialist” which makes you sound like every other financial advisor or insurance agent they’ve ever met. It doesn’t say anything about you. Conversation is over.
You use the elevator statement to immediately differentiate yourself from all of your competition. Get people to understand in 30 seconds that they don’t want to speak to you more… but absolutely NEED to speak to you more as their Financial Advisor. You can best accomplish this by sitting down and creating your own killer elevator speech using the process outlined below or any other process that helps describe what you do in a manner that shows why you are different from your competition.
However, many financial advisors find it hard to get the creative juices flowing so I’ve included some elevator speech examples to get you started…BUT don’t just grab one of these to use – instead use them to create one that describes you and your practice!
Some Elevator Speech Examples for Financial Advisors
“I have a team that specializes in building and preserving wealth for dentists by utilizing the recent Supreme Court ruling”
Would dentists ask, “What ruling was that?”
Does that elevator statement convey an immediate idea to you that you have to talk to me.
“I increase teacher’s pension income by over $250 a month using a special clause in the recently passed 2010 Minnesota Omnibus Bill.”
Would a teacher ask, “How exactly does that work?”
In this elevator speech again you are leaving the person you are talking to with the idea that he needs to talk to you as their Financial Advisor – the exact objective of an elevator speech.
“I create tax free income for people born before 1961 using the little known exclusion clause in the IRS Code 1.72(c).”
Would anyone 60 years and older say, “How does that tax code work? Would it work for me?”
Did you notice how a really effective introduction is directed toward a particular target market? (Dentists, teachers, people over the age of 60).
The more specific an elevator pitch it is, the more effective it is. Notice that the above examples not only carved out a target market but also hinted at a specific solution:
- Supreme Court ruling
- 2010 Minnesota Omnibus Bill
- IRS Code 1.71(c)
In an Elevator Speech a Picture Paints a Thousand Words
In this colorful approach, financial advisors relate their value to some vivid image the listener can picture immediately. What variation on this theme would you create?
“You know how the wind will blow a boat straight across the lake…but when a trained sailor controls that wind, they can move their boat straight into it successfully? I do the same with people’s taxes.”
“Do you know what a dream catcher is? I help people achieve their dreams either faster or cheaper than they ever thought possible.”
“Did you ever see the movie Top Gun? You know where they talk about the importance of a wingman protecting his buddy’s hind end when he is concentrating on a target? I do the same thing for small business people. I watch out for all the regulations, unforeseen events and tax problems that can sneak up on them while they concentrate on growing their business.”
“Have you ever heard of a liger? I am a “CPAttorney”! That rare but very valuable animal that can protect you from the tax beast! Truth be told, I am a CPA and attorney, I am able to manage my wealthy clients’ tax, legal, and financial strategies so we can work together to protect their financial futures.”
“I perform “stress-ectomies”. I work with retirees in showing them how to reduce their financial stress and anxieties, and how to enjoy their money.”
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