Customer Reviews

Values-Based Selling : The Art of Building High-Trust Client Relationships

5 star:		(9)
4 star:		(1)
3 star:		(1)
2 star:		(1)
1 star:		(1)

 

 

This book is not so much about selling as it is the way you relate to your clients. I read this several years ago and did not really start using the techniques in earnest until I went to Bill's "Values Based Academy" last June. The academy is also a recommended activity, but read the book first; better yet, get Bill's "Mastery System" that includes the book, video and cassette tapes and other supporting materials. If nothing else, I know more about my clients and am able to make more appropriate recommendations to them. It makes the discovery process in financial planning much smoother. I have not yet been able to semi-retire and make more money, but I am making more money. I find that my referral level has increased.

It is an easy read, but pay attention and practice, practice, practice!

In all honesty I never write reviews, but the the negative ones that I read prompted me to do this. The fact is those who commented negatively on the book read it but never attempted to implement the process. Being an investment representative, IN A BANK, I have to say that this process does work, and it is not merely asking clients what is important about money to them.

Who this book is NOT for:
People who only want to sell investments
People who enjoy a commission based business
People who only care about their clients investments, not their values

Who this book IS for:
People who want to get beyond the superficial sales approach
People who want to transition to fee based planning
People who want to help clients achieve their financial goals

Why the negative comments are flat out wrong:
One reviewer makes the comment that you don't need the book, just sit down with your clients and "make the decisions you would make for yourself." Obviously this reader hardly made it into the 4th chapter of the book. The entire book is dedicated to the fact that your job as a planner is to come to an intimate understanding of what is important to your client, NOT what is important to you. So making the decisions you would make for yourself has no place in professional financial planning.

Another reader commented that he was taught in his first week of securities training to ask what is important about money to his clients. Again, the reviewer is off topic. This book is not about killer closes, or finding your clients hot buttons like most security training emphasizes. Instead, it describes a logical, repeatable method for building trust with your clients. It does not teach quick sell techniques.

Lastly, the reviewer who says it won't work in the banking industry is wrong. I am a retail based financial consultant IN A BANK, and have used this method countless times to procure and retain quality clients.

Closing remarks:
This book and it's contents are not magical. Reading it will not make you money, will not give you more time off, will not make you a better financial planner, better investment rep or better insurance sales person.

Only by implementing the ideas in the book, exactly as described, will you get any result. So if you want to get away from being a salesperson, and become a trusted advisor, buy this book. If you are looking for some good, quick sell techniques, look elsewhere.

Buy books from Zig Zigler to learn to sell, buy this Book to become a trusted financial advisor.

Values-Based Selling is the next generation in selling. It definitely differentiates you from everyone else. It is the 'new school' of selling. Nothing else teaches you how to build trust on purpose and in the first 3-5 minutes of a conversation with a prospect. It is a must read for those who want to reach their next level of success and everyone has a next level. If you want to make a lot more money in less time, not do any prospecting, and have an even better quality of life, read and implement Values-Based Selling.

This is an excellent book for those just starting out or for the seasoned veteran in the financial services field. Bill Bachrach's book is very easy to read and understand. His techniques on building client relationships is fantastic. He provides dialogue for every type of situation you may encounter in the financial services field. Phone conversations, prospecting techniques, seminars and much more are described from the rookie to the pro. His concepts are very basic and easy to implement. He writes about working a process not selling products. This book is a must for anyone wanting to get into this field or for improving your skills.

If you are a financial professional and have not read this book, you are missing out! The author emphasizes the importance of trust, and how understanding a person's values system can make a world of difference. One could almost say that these ideas originated from Dr. Stephen Covey's "The 7 Habits of Highely Effective People". The main difference is that, Values-Based Selling is specifically for financial advisors. There are people who read all kinds of books on "selling" and make excuses for why it didn't work out. To those who implemented the ideas in Values Based Selling and didn't see results or gave up: with all due respect, you didn't follow what was intended to be done in this book or you just were not meant to be a trusted advisor. This is not a system for making great salespeople, it is for those who are, or aspire to become true financial advisors and understand what financial planning really is. The author leaves out rapport building/small talk intentionally since the process is about building trust by LISTENING to "their" story, not by telling "ours".

Values Based Selling is an excellent book for teaching the financial services professional a technique for building buying momentum from the client rather then selling the client.

This book should be a required reading for anyone working in the sales genre. It takes the focus away from just closing the sale and places it on how to connect with your client, determine what's important to them and then provide it. It will separate the rookies from the professionals.

I think this book is Awesome! It has caused me to rethink a lot of what I believe. For example, for me, the chapter on Choosing Your Clients is very helpful as I would tend to blame myself when things didn't go right in working with prospective clients or existing clients. Now I have clearer understanding of their behavior and a greater apreciation of why Americans have such a propensity to blow them selves up financially. I appreciate my ideal clients more and can let go of non ideal clients/prospects much more easily. Building realtionships on values (Values Conversation) is much more beneficial than building relationships based on fear and greed or my salesmanship or the excellance of Northwestern Mutual products and services. I am much more excited about my business as I become more and more proficient in integrating the concepts in the book. It takes time, effort, practice, and money (for the values based coaching programs) to truly master this stuff but for me it has been worth it. My production is increasing, my ideal clients have a higher regard for me and my ideal clients have a much higher probability of achieving financial success (Having a Great Life)based on their having a greater understanding of their goals and the values upon which they are based.

I invested in the mastery system which includes this system.
I wish I had read it at my prior company where the emphasis is
on financial planning. The values provide the "why" and therefore the motivation to complete the plan.

I now work in a bank and tried using this with not good effect.
Transaction time is much shorter. I'm now revisiting "Trust Based Selling" by Kerry Johnson and subliminal selling technqiues that more appropriately fit the banking environment.

Bacharach ignores the whole concept of rapport and goes for the close as a way to screen out people. That's great if you have an endless supply of qualified referrals to work from. Also his book assumes people want planning when many times they already have a planner or just want to do a transaction.

I'm finding both Tom Hopkins books and Kerry Johnson's a much better fit for what I do and also have bought "Socratic Selling" which I believe provides real value to the client.

This book is not only great for advisors, but anyone who plans on making a career out of selling and doing the right thing.