The Game of Numbers: Professional Prospecting for Financial Advisors

by Nick Murray

The Game of Numbers is written in four essential parts, rather than in multiple chapters. Those four parts BELIEF. Our ability to persist in a long-term, high-volume prospecting effort is primarily a function of the experience we believe we are having. Most of us unconsciously believe that when we prospect someone who says "no," we experience the "pain" of "rejection." Because there is so much "no" in high-volume prospecting, most advisors get taken out by the perceived pain. BEHAVIOR. Belief dictates behavior. Just as a belief in the "pain" of "rejection" must cause its victims to stop prospecting, a belief in the power of prospecting with your own authentic self, combined with an unwavering faith in the efficacy of the law of large numbers, must lead to long-term success. It is a mathematical certainty. ENDURANCE. This section of TGON lays out a daily prospecting program based on the training program of an endurance athlete. In this methodology, you discover the basic level of prospecting your anxiety will allow you to complete. You standardize this into a daily program. Then, as you get stronger, you expand your capacity slowly but consistently – as a runner or a swimmer does – training, but not straining. SKILL. This last section of the book develops a series of specific skills, including a variety of very low-key conversation-opening scripts, non-threatening offers that get appointments, and thought-provoking ways to handle Q&A/objections.

Genres: Business, Finance, Nonfiction, Professional Development, Entrepreneurship, Personal Development, Fat Acceptance

209 pages, Hardcover

Published January 1, 2010

Reviews

[Jason Riemens · Rating 4 out of 5]

This is an excellent book that's motto is analogous to Nike's "Just Do It." It basically challenges you to face your fear of prospecting because no matter the shape, form, or script you use - you cannot fail if you do not stop. It helps the reader realize that "no" is not rejection. This is - as the book attests to - the how-to-not-stop-prospecting book. There are plenty of people out there that need insurance and financial services and if you persist - due to the law of large numbers - you will be successful (by virtually anybody's standards).

It may make some corporate trainers cringe at its assertion that it does not matter what you say or to even whom, as long as it is an activity which creates the possibility that another human being will respond directly to it - and to you, right here, right now. But, the book expounds upon this assertion, which is what makes it a must read for those in the insurance or financial services industry (or anyone who prospects for that matter). I think the majority of readers will look at prospecting in a completely new light upon completion.

Jason Riemens

[Earl Grey Tea · Rating 4 out of 5]

As a corporate trainer for Financial Advisors, I had heard about this book multiple times and decided to read it. Upon completion, I would say this should be a must read for anybody starting out as a Financial Advisor. The majority of what Nick Murray has to share is gold though there are a couple of items that I would politely disagree with him on.

The following are some of the key concepts that people new to this industry should take to heart:

1) Being a Financial Advisor is about building relationships with people so that they see your value. Your goal is to help your clients reach their financial goals.

2) Your job is not to know everything about the world of finance. Your job is to know how to find information when it is needed. It's okay to learn on the job as you start out and for the rest of your career. Your firm has people and resources that will help you develop that knowledge over time.

3) If you are not constantly prospecting for at least the first five years, you are setting yourself up for failure.

4) There are no magic words that will make people automatically become clients. No special phrase will reduce the amount of "no's" you will hear. It takes constant prospecting until you find enough "yes's".

5) Don't take the "no's" personally and try to make a game out of it. Reward yourself with the things you want to do for doing the work, not the results.

6) Be yourself and not what you think each person wants you to be. Attract the people that you want to do business with.

There are only two parts of Nick Murray's advice that I would question. The first would be it doesn't matter what you say as long as you are prospecting. I would rephrase this to be the majority of your success comes from the effort you put into prospecting, only a small amount of your success is attributed to what you say. I've heard a couple of Financial Advisors come up with their own ideas of what to say and they would never have been able to build a successful book of business if they used their method for five years straight.

In addition to this, Nick Murray gave some example questions to help show his value to a prospective client. One such example went along the lines of, "How confident are you that your savings will last you for all of your retirement?" This "gotcha" question with a perspective client is anxiety inducing and conflicts his tenet of trying to build relationships. There are other ways to highlight the importance and urgency of working with you without the negative emotions.

This was a very enlightening book that will help me train future Financial Advisors. In addition to that, I had a couple of take away's to improve my own life. After reading The Game of Numbers, I would be interested in reading any other works by Nick Murray that I come across.

[Jason Green · Rating 4 out of 5]

I really liked the Belief and Behavior sections of this book. This book is targeting specifically at financial advisors (it says so in the sub title). It is a very philosophical approach to prospecting. For instance, as a financial advisor, it is our job to have conversations with our clients that are not easy and that our clients often times do not want to have. But if we do not have them, then we will not know if our clients' plans are adequate. No one wants to be the advisor who didn't do enough for a client who died prematurely and left his family unprotected. So we have a responsibility to have those conversations. But we don't get those clients unless we prospect. So we have a responsibility to prospect and get in front of people.

I found the Endurance section to un-applicable to my situation. My firm does a phenomenal job of setting minimum standards for prospecting as well as for recording activity. But I do understand his premise.

[Steve Thomasma · Rating 5 out of 5]

This is the best book I have ever read on prospecting. It is written for Financial professionals, but anyone in sales would benefit from reading this. Fantastic!

[Dwight Larkins, Sr. · Rating 5 out of 5]

This book will help me tremendously. Articulate and thought provoking. The bottom line......Don’t stop Prospecting!

[Chris Nordlund · Rating 5 out of 5]

While this is a sales/prospecting book aimed at financial advisors and insurance producers, the fundamentals of generating leads/appointments and building a book of business can apply to any sales or professional services role.

The book would be well served for someone in those roles to read daily, almost as a daily motivational ritual. What I appreciate about Murray’s text is that he unapologetically addresses the elephant in the room for those just starting out in the profession or those “re-starters” that is, prospecting avoidance.

For those undertaking a prospecting dependent career, this book is the go to in cutting out the negativity and misinformation out there. Murray’s sections on belief and behavior are particularly important for those mustering up the daily fortitude to slog through a day of prospecting. There is a somewhat lack of flexibility in Murray’s system but I guess this is intentional. Those undertaking prospecting to build a successful practice should be all in and relentless.

This is easily one of the best books I’ve read on prospecting and goes where most books do not, which is addressing that elephant of prospecting avoidance.

This is a must read for any advisor at any stage in their practice.

[Griffin Borst · Rating 3 out of 5]

Basic laws and principles of Financial Advising from the great Nick Murray. The law of large numbers tells us that if you never stop prospecting, you will never fail as an advisor. The technique, process, and details aren’t important, you just have to do it. Now, what can separate an average advisor from a great one is the details, techniques, and language that they use. But all of that comes from practicing real prospecting. Marketing isn’t prospecting, you have to attempt to have a one on one conversation with an individual through the phone, or F2F to count as a real prospecting attempt. Don’t confuse email lists, radio ads, and fliers with real prospecting attempts. A great read when I need to remind myself the basics of this job, and to get my business started or boosted.

[Kyler Battles · Rating 5 out of 5]

Nick Murray’s “The Game of Numbers” is a book full of wisdom that refuses to make excuses for new financial advisors and persists in the recommendation to endure the prospecting beating in hopes of a fulfilling career.

The structure of belief, behavior, endurance, and skill is such a foundational understanding to build on for a young advisor. As a development coach in this space, it’s a common occurrence to see the “avoidance” behavior take so many shapes and sizes that returning to your foundation is a must. The reality of this read and our profession is that no matter where you turn the next right thing is to simplify ask anew.

I would absolutely recommend this read to any new or persisting advisor determined to grow his business through introductions.

[Matt · Rating 3 out of 5]

I thought it was ok, if I was a financial advisor I would have potentially found a little bit more. To me it seemed very repetitive. Go out and prospect and you will be successful. There are some areas I found applicable to all sales, like ideas for finding leads. Or motivation and drift. But overall, I found myself skimming through it towards the middle because it couldn’t keep my attention. Yes it’s a business book but there should be enough interesting substance to keep the reader engaged throughout.

[Rob · Rating 4 out of 5]

I saw this book on my financial advisor's shelf, and was curious enough to read it. It confirmed my suspicion that my advisor is primarily a salesperson rather than a financial expert. I say that with no sense of judgement--it is true that good ideas don't sell themselves, and salesmanship is an art of its own. If I was starting out as an advisor, I would want to read this book too. It's pretty inspiring and offers what seems like a sound, time-tested approach. It's also helped me to revise expectations for my advisor accordingly.

[Dave · Rating 5 out of 5]

Although geared toward financial advisors, anyone in a role that requires any sort of sales (or really any proactive behavior) will certainly benefit. I’ve recommended it to real estate agents, fundraisers, attorneys, and many others. Love how Nick makes everything so clear and simply. The “advice” is really stuff you already know but probably need to be reminded of, like every day. Just read 5 pages to start your day and you’ll surely multiply your productivity.

[Johnny Nuanes · Rating 5 out of 5]

Excellent book for any financial advisor at any stage of their financial practice. Nick shares similar thoughts as myself on what a financial planner should look like. It should always be about the clients needs first and foremost.
I recommend every person considering getting into this industry to pick up a copy of this book. It is a great investment to the success of your practice.

[Neeraj Wagh · Rating 4 out of 5]

Nick Murray tells us that no matter what May come to u in the future. Like u May become busy in your financial planning carrier & start doing other business related work & administrative work. But never ever forget to do your core business Ie. Financial advisory & meeting client & prospects on daily basis & go on doing and meeting them daily , regularly & consistently for years & years …

[Charlene Xiaolan · Rating 5 out of 5]

As somebody new in the financial planning industry after a mid-life career pivot, I was very eager to learn as fast and as much as possible. This book was recommended in some thread on Reddit and I’m glad I’ve read it. And upon completion, I started re-reading. The philosophy and the advice are timeless and foundational.

[Aaron Sloan · Rating 4 out of 5]

Great read, really enjoyed it. Took me a little while to get through the whole thing because I got distracted with other books. However, I'm looking forward to reading some of the other books that Murray has written.

[Brandon Miller]

I feel like it could have been a lot shorter but hey I guess us stubborn people can be tough to get moving. Anyway, it was an interesting glimpse into the daily life of a very different career than mine.

[Alexis · Rating 5 out of 5]

Best book I’ve read so far for financial advisors. I can’t unsee these truths!

[Roman Spear · Rating 5 out of 5]

Read multiple times now. Will re-read

[Shelby Myrman · Rating 5 out of 5]

A must read for financial professionals

[Adam Stone · Rating 3 out of 5]

Sales book, meh.

[Josiah Kellogg · Rating 5 out of 5]

Exceptional book specifically written for financial planners seeking to build a practice and prospect for new clients. If you live the values in this book, you cannot fail.

[Ellis Hyman · Rating 3 out of 5]

Business Business Business

[Logan Michaels · Rating 2 out of 5]

quantity of quality

[Clark Cole · Rating 5 out of 5]

Great thoughts to help get around avoidance when you need to build your business. Written for financial advisors that need to prospect. Super helpful.

[Daphne Smoley · Rating 3 out of 5]

A good book. Helpful for a career. Nick Murray is a great author and I agree with all of his standing.

[Dave Carruth · Rating 3 out of 5]

3.5 stars

[Brian · Rating 4 out of 5]

Anything by Nick Murray is fantastic. Perhaps spoiled by two of his other seminal works, I was pleased by not blown away by this volume. The second half of the book was more valuable than the first. Though, to be fair, I'm sure it's human nature to try to use the invisible hand wave at the psychological elements of prospecting.
I recommend this to any financial advisor.

[Ryan Johnson · Rating 5 out of 5]

I have been exposed to several Nick Murray books, but this was the one that made me fall in love. I hope I get the chance to read this book every year. He is encouraging and inspiring from a purely rational perspective and gives you all the reason to think you have what it takes.

"You'll never run out of prospects."

[Rob · Rating 3 out of 5]

Very good book, though not as good as his others I've read. That's partly because this one is a bit more narrow. The full focus is really toward financial planners, and this is one that I would generally not recommend if one isn't a financial planner.

[Holly · Rating 5 out of 5]

So much to say about this book so I'll keep it simple: if you are building a financial planning practice you need to buy this, read it, and put it into practice immediately. There is an incredible amount of wisdom in these pages.