How To Sell Financial Services (In 2024)

Are you overwhelmed by advice from professionals, the Internet, and experts who ‘just happen’ to be family members giving their opinions? Read this post from a seasoned expert for down-to-earth tips about how to sell financial services.

The financial service sector as a whole represents an enormous economic force. Clocking in at a whopping 20-25% of the global GDP, it makes up a good chunk of that more than 100 trillion U.S dollar figure.

In truth, it’s the age of opportunity, and nobody knows how to cash in on the opportunities in America better than we do. The U.S., in comparison with other countries, has the largest financial market, with an estimated industry revenue of US$4847.9 billion as of 2021 (Statista).

Despite all this money being thrown around, it doesn’t mean taking the plunge to offer services in the industry will translate into immediate success and riches.

In fact, it might be one of the most demanding fields to break into because everyone wants a piece of it, and competition is fierce. If you’re not careful, you’ll waste a lot of time and money trying to get your foot in the door – or worse, never getting in at all.

The key to success is to know how to sell!

But be warned: there’s much more to financial selling than just knowing the numbers.

This post will provide some simple yet actionable tips on effectively selling financial services so you can take advantage of this lucrative market yourself!

The Top Financial Sales Tips

Have a Shift in Mindset – Provide Solutions Rather Than Sell

Don’t see yourself as a salesperson; you are a solution provider. This does not mean that you should not be recommending specific offers; it means that you should be helping clients find solutions to their problems and challenges rather than forcing products or services on your clients. It’s about empowering your clients to make the best decisions by providing them with all the information they need to make those decisions.

When you change your mindset from being a salesman to being an advisor/consultant, you will see positive changes in your sales performance immediately!

You will no longer be asking questions like, “What product can I sell this person?” Instead, ask yourself questions like, “What investment strategy would work best for this client?” This approach will help you provide better solutions for your clients and build trust with them in the process resulting in better results for both parties in the long run.

Ask For Referrals

To succeed in this field, you need prospects – you first need to have clients before you can even consider selling financial services. Over the years, one of the best ways to get new clients has been by asking for referrals from your current clients.

The beauty of this strategy is that it’s free and works.

It works because people are more likely to trust someone they know and like, so if they hear good things about you from someone they trust, they are more likely to give you a chance.

So, when working with a client, ask them if they know anyone else who could benefit from what you provide. It can be a great starting point when it comes time to build your clientele.

When Networking, Deliver value

Still, on the topic of generating business leads, networking is one of the best ways to do this.

However, when you’re out there meeting new people, it’s vital that you deliver value to them. Don’t just focus on what you want from them. Instead, think about how you can help them. Instead of giving out your business card and telling them what you do — have a conversation with them and let them ask questions and tell their story. In return, be sure to ask them questions about what they do and what they’re looking for in terms of financial services.

If you can build a relationship and help someone solve a problem or provide an opportunity, they will be much more likely to remember you and refer business to you.

Understand the Pain-points Of Your Prospects

As someone in the financial services industry, you know how important it is to build trust with your clients. But how do you do that?

Understand the Pain-points Of Your Prospects.

Let’s be honest; we’re all busy. We’re all doing our best to juggle work and family life. But money is always a big deal. People worry about having enough of it, saving it, and spending it wisely. They worry about paying bills on time, ensuring they have enough for retirement, and saving for their children’s education.

Understanding your prospect’s pains is critical because it allows you to address those issues while building rapport with them. If a prospect is worried about not having enough money to retire, for example, then offering them additional products like annuities or long-term care insurance may help them feel more comfortable about their financial future.

When it comes down to it, ask lots of questions. As per Taylor Method selling insurance or any other financial product requires detailed information about the needs of your prospect. Questions will help you understand what’s going on in your prospect’s head so that you can tailor your sales pitch accordingly.

Present A Single Solution

If you want to more than double your conversions when dealing with prospects requiring financial services, then focus on a single solution. In other words, don’t try to sell a prospect multiple products or services simultaneously. Instead, focus on one thing at a time and present it as the only thing they need to do to solve their problem.

Presenting multiple solutions at once confuses prospects, and they don’t know what to do next. You risk them falling into the “paralysis by analysis” trap where they become paralyzed by the number of choices before them and end up doing nothing at all. Presenting a single solution is much more effective because it allows prospects to make an informed decision about what’s best for them without having to weigh too many options at once.

Cross-sell Where Possible

Let me explain why I include this point in the list. I’m not saying you should go into a sales call to sell your prospect everything under the sun (although some might try). What I am saying is that if there is an opportunity for you to cross-sell additional products or services, then, by all means, do so! You’re not just closing out one sale but two!

Don’t Stop Learning

“Continuous learning is the minimum requirement for success in any field.” — Brian Tracy.

The above quote is true for any profession, and it is even more important in financial services, where many changes happen every day. Adapting and improving your sales skills with proven methodologies will help you meet clients’ expectations and demands.

Final Thoughts

Selling financial services isn’t just about selling products and services. It’s about helping people make better decisions for their future.

A great salesperson knows how to:

  • Understand their client’s needs, wants, and desires;
  • Understand the value of what they’re selling;
  • Use their product knowledge to educate the client on why they need it (and how it will help);
  • Get the client to see things from their perspective;

In the end, to be successful as a financial advisor, you need to understand what drives your clients and how to create a solution that meets their needs.

Ricardo is a freelance writer specialized in politics. He is with from the beginning and helps it grow. Email: richardorland4[at]