10 Sales Books That Can Help Financial Advisors Grow Their Firms

Selling can be a difficult part of being a financial advisor. You need to build rapport with clients and engage them where they are, while being prepared to respond to rejections. Closing a deal requires transparency, honesty and a lot of patience. Soaking up knowledge from sales books can help you fine-tune your approach and increase conversions.

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12 Sales Books for Financial Advisors

A financial advisor meets with potential clients.

Sales books can offer inspiration and motivation on how to go about growing your business. Some books yield more value than others. And the books listed below are just a sampling of the recommended reads for financial advisors who want to enhance their selling skills.

1. “Storyselling for Financial Advisors: How Top Producers Sell”

Storyselling, a marketing strategy that relies on firsthand experience and emotional connection, can be a powerful tool for attracting new clients and deepening relationships with the ones you have. Authors Scott West and Mitch Anthony explain how advisors can leverage personal narratives to meet prospects and clients where they are, using actual stories from financial gurus as examples. The stories included in the book illustrate the value of intuition and how to use it to speak to the needs and concerns of different types of clients.

2. “The Speed of Trust: The One Thing That Changes Everything”

Trust is a critical component of advisor-client relationships. If clients don’t feel they can trust you, they may be less inclined to follow your advice. Stephen M.R. Covey explores the importance of trust and how it functions within organizations and across transactions. This book is not specifically directed toward financial advisors, but it’s still recommended reading for advisors who are looking for insight into how to strengthen their relationships with clients from a behavioral perspective.

3. “To Sell Is Human: The Surprising Truth About Persuading, Convincing and Influencing Others”

Selling isn’t rocket science, although it can feel that way if you’re struggling to close the deal with prospective clients. In this book, author Daniel H. Pink offers some contrarian insights into what really drives sales and how to leverage that knowledge. Pink outlines specific rules for understanding the buyer’s perspective and frameworks that advisors can use to clarify their messaging and make it more persuasive for their audience.

4. “Getting ‘Yes’ Decisions: What Insurance Agents and Financial Advisors Can Say to Clients”

Handling rejections is part of the sales process. Understanding how the client’s decision-making process works can make it easier to overcome. This book cracks the code by examining five key questions clients use when making decisions and how advisors can adapt their phrasing to guide clients toward a “yes” rather than a ‘no’ answer. It’s an essential read if you’ve ever wondered why first impressions matter so much and how they drive outcomes, or if you’re tired of hitting the “I already have an advisor” wall.

5. “The Language of Referrals: The Words & Scripts Financial Professionals Use to Gain More Ideal Clients”

Referrals can make a significant difference in your firm’s success. If you’ve ever felt uncomfortable about asking for referrals from clients, this book is for you. Inside, you’ll find tips and strategies for how to inspire your clients to refer you to others, without coming across as salesy, pushy or desperate. It’s full of helpful strategies for approaching the ask with more confidence and less awkwardness while retaining your personality and authenticity.

6. “Fanatical Prospecting: The Ultimate Guide to Opening Sales Conversations and Filling the Pipeline by Leveraging Social Selling, Telephone, Email, Text, and Cold Calling”

Prospecting may take up a considerable amount of time in your schedule, but there’s a right way and a wrong way to approach it. In “Fanatical Prospecting,” author Jeb Blount offers an exhaustive list of tactics for prospecting more effectively, all with the goal of making your sales pipeline overflow with leads. You’ll also learn the basics of social selling and how to expand your reach through email and text marketing.

7. “Knockout Networking for Financial Advisors and Other Sales Producers: More Prospects, More Referrals, More Business”

Networking and its importance for advisors can’t be understated. While it’s not impossible to build a thriving firm while flying solo, it’s a lot easier to do when you have a strong network behind you. Growing your network has its challenges, but this book offers tips and strategies to help you overcome any obstacles in your path. It’s an excellent read for any advisor who wants to boost their confidence in business settings, gain new referrals or establish strategic partnerships with other financial professionals.

8. “The Million-Dollar Financial Advisor: Powerful Lessons and Proven Strategies from Top Producers”

Growing your firm to seven figures or more in revenue is a lofty goal, but it can be achievable if you know how to approach it. “The Million-Dollar Financial Advisor” takes you inside how it’s done, with interviews from 15 financial advisors at the top of their game. Whether you’re just getting started as an advisor or you’re running an established firm, this book includes some valuable lessons for increasing sales and success over the long term.

9. “Virtual Selling: How to Build Relationships, Differentiate, and Win Sales Remotely”

Digital marketing offers numerous opportunities to connect with prospective clients and tap into a broader audience. If you have yet to explore the possibilities of online marketing, or you’re looking for insight into how to do it better, “Virtual Selling” breaks it all down. You’ll learn how to capture prospects’ attention (and keep it), as well as how to overcome virtual selling challenges before meeting prospective clients face to face.

10. “Listen to Sell: How Your Mindset, Skillset, and Human Connections Unlock Sales Performance”

Succeeding in sales often hinges on what you do and say, but how you think also plays a part. Though this book wasn’t written specifically for financial advisors, there’s plenty of wisdom to be gleaned from its pages. Its focus is on developing a customer-centered approach that emphasizes authenticity by implementing mindset shifts. It’s worth a read if you’re interested in how your mindset and beliefs can influence sales outcomes.

11. “Value-First Prospecting”

Legacy Investment Planning founder Sten Morgan shares his system for attracting ideal clients in “Value-First Prospecting,” beginning with shifting to an elite mindset and overcoming imposter syndrome. The book explores how to demonstrate value while creating a sense of urgency and how to target high-value prospects to gain more sales. Each chapter has accompanying resources to supplement your learning, and the book is available in physical and digital formats so you can take it anywhere you go.

12. “Questions Great Financial Advisors Ask”

Asking questions is a critical component of the sales process. Understanding what your clients value, how they view investing and what drives their thought processes can help you develop a financial plan that’s best suited to their needs and goals. “Questions Great Financial Advisors Ask” offers insight into how to develop better relationships with clients by meeting their intellectual and emotional needs, and using the information they share with you to your advantage.

Benefits of Sales Books for Advisors

Reading sales books can potentially make you a better advisor if you’re absorbing valuable advice and applying it in the way you operate your business. Sales books can teach you how to make stronger connections with prospects and clients, build trust using a more intuitive approach to problem-solving and help you more clearly demonstrate your unique value proposition. You can also learn how to build better sales funnels that are designed to convert prospects into clients consistently.

In addition to books, you may supplement your learning with podcasts, YouTube channels or an intensive sales training program. Virtual and in-person sales training may be worth considering if you’re looking for hands-on experience applying the concepts you learn. A training program can also be an opportunity to connect with a financial advisor mentor who can offer advice on how to build a thriving practice.

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Frequently Asked Questions (FAQs)

How Can You Make Sales as a Financial Advisor?

Making sales as an advisor begins with understanding what prospective clients need and what you’re able to deliver. Defining your target niche or ideal client base, evaluating your professional and personal skill set and focusing on engagement can lead to more sales. Delivering top-tier services to your existing clients can also generate sales, especially if you’re garnering more referrals.

How Can You Get More Prospects as a Financial Advisor?

Getting more prospects often means marketing your firm in the right places, at the right times. Some of the most effective ways to find new leads and turn them into prospects include networking, asking clients for referrals and developing a marketing strategy that’s designed to appeal to your ideal client persona.

Where Do Financial Advisors Get Their Leads?

Financial advisors can collect leads from a variety of sources. Client referrals are one way to connect with new leads, but you may also leverage social media marketing, content marketing or email marketing. Advisor marketing services can also help you find qualified leads and help you follow up on them.

Bottom Line

Reading sales books for financial advisors can give you new inspiration and motivation to focus on business growth and help you generate new ideas.

Reading sales books for financial advisors and other professionals can offer new ideas, sharpen your approach to client conversations and help you focus on business growth. The books listed here offer a starting point for expanding your sales knowledge as you build out your client base.

Tips for Growing Your Advisory Business

Online marketing is a hot topic for advisors. Without a digital footprint, you may be missing out on opportunities to connect with prospects. If you don’t have time to build a digital marketing campaign, SmartAsset AMP can help. This advisor marketing platform helps you match with leads so you can potentially grow your business. Schedule a demo to learn more about how it works.
Learning is part of business development and you may decide to apply your thirst for knowledge to earning a professional designation or credential. Holding one or more certifications can help to underscore your knowledge and add to your credibility in the eyes of prospective clients.