Short of target and need more appointments? Overcome the 4 common cold-call objections with these powerful responses

You’re very familiar with the process. Most cold-calls are just plain sailing, get through to a lead and hear them beg you to come and meet with them. It’s human nature for people to avoid talking to a stranger, and to try and get them off the line. If you’re going to be a successful financial adviser, making targets and money, you’ll need to learn these cold-calling tips and be able to overcome the most common objections.


There are only really 4 standard kinds of objections that you’ll encounter during a cold-call.


  • No thanks, I’m happy with my current financial adviser
  • I’m not interested
  • I’m too busy
  • Email me something to read


Each of these is a block by your lead and it is imperative that you learn how to turn them around.


“No thanks, I’m happy with my current financial adviser”


Most people are happy with their current financial adviser. If they weren’t, they’d be phoning you, not the other way round. So how do you offer him something that catches his interest?


What about, when he says “I’m already happy”, you came back with “That’s great Mike, but what if I told you that my 5 most recent new clients were also happy with their own financial advisers, yet when they let me do an analysis of their portfolios we found that they were more than 30% undercovered on dread disease and disability.”


“I’m not interested”


You’ve heard that objection before right? And I’m sure you’ve sold to someone who said that before, right? Yes, because that’s what selling is, it’s about identifying a need that the person isn’t aware of, YET.


“Well Mike, I’ve had that response from a number of people who have become clients once they’ve seen what a difference our approach can make to their portfolio.” And if this lead is from a referral, now is a GREAT TIME to drop that in. Remind them that “your friend Simon was also not interested until he saw how our approach would benefit him”


“I’m too busy”


I’m pretty confident you hear this response often enough. Is your standard comeback “That’s OK Mike, what would be a better time to call you?” and when we call back at the specified time you’re flummoxed that he’s not sitting waiting for your call.


Mike giving you a time to call back, wasn’t him looking for a better time to chat, it was him fobbing you off. He doesn’t want to talk to you. If you recall my article “Make More Appointments By avoiding These 5 Cold-Calling Mistakes”, you’ll remember that the point of your cold-call is to GET AN APPOINTMENT. So what better time to ask than right now. Go straight in. “I can hear you’re busy Mike. The reason for my call was to set up time to see you. How does Wednesday 10am suit you?”


At this point, other than hanging up, your lead only has a couple of responses available; “Yes that’s good for me”, “No but 2pm is fine” or one of the other 3 objections, “I’m actually happy with my current financial adviser”. He hasn’t said “I don’t want to see you”, he’s just given you another objection and you’re prepared for that. Don’t get caught in a loop of more than 3 objections, rather close the call a promise to call him back later. And do it!


“Can’t you email me something?”


Let’s face it, how often have you emailed reading material to someone who’s asked for it and actually SOLD to them. Not too often, I’m guessing?


“The email never came through” or “I haven’t read it yet” or they actually never read it and they certainly don’t care about it.


Emailing literature doesn’t progress the sale and it doesn’t get you an apppintment. Go for the direct approach again, “Mike I’m actually calling to set up some time to see you. How does Wednesday 10am suit?”


I’m betting that 90% of the time you get the appointment and the other 10% you get “Sean I’m happy with what I’ve got right now”, and you know now how to turn that around!


Remember it’s crucial to listen to what your lead is saying. When you listen properly you will hear the opportunity to add value. Your lead will tell you what they need, without even realising it, and you will be able to respond.


And don’t get caught up in the 1st objection. That is an instinctive block and lacking in meaning. Once you’ve countered that, you’ll get to the 2nd objection, which is usually the more honest answer, and it’s loaded with opportunity for you to respond to their needs.


Listen carefully, think about what you hear and respond intelligently and professionally. You’ll become a more effective financial adviser, more successful at making appointments and getting more sales.


Here’s a BONUS for you. If you’ve written a script and want it checked out, why not submit it to me. I’d love to review it and give you a few pointers. You can drop it to me at sean.gilliland@dfc.discovery.co.za or visit our upload it from the home page of this website.



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