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Advanced Negotiation Skills for Financial Services Professionals

A highly interactive one-day workshop where negotiating is a feature of every day work

Advanced Negotiation Skills for Financial Services Professionals Course

A one-day course

This course is a ‘must know’ for;

  • M&A professionals, but especially those negotiating with and on behalf of clients;
  • Business owners considering a sale;
  • Corporate, in-house M&A team members;
  • Private equity professionals managing or overseeing the execution of their firm’s deals; and
  • Financial Services professionals who work outside of set fee structures

And a ‘nice to know’ for;

  • Financial services professionals seeking to improve the outcomes of client meetings, colleague commitments, and easier business transactions negotiated between two, or multiple parties.

  • The use of models for structure, not quick scripted lines
  • Combines application of the basic techniques ensuring everything is covered, with more advanced skills to develop your negotiation style
  • The opportunity to apply and negotiate in everyday situations, not just client scenarios

This highly interactive course is suitable for professionals working in both the finance and other industries where negotiating with clients, colleagues and business partners is a feature of everyday work, and where the highest standards are required.

Participants will:

  • Examine their own negotiation skills levels
  • Consider how they prepare for negotiations
  • Describe what win/win means for them
  • Use the win/win model to plan negotiation outcomes
  • Describe the best ways of dealing with clients of all types
  • Describe the skills to enable mutual benefit
  • Use the IMPACT model to structure negotiations
  • Consider a range of techniques for handling difficult negotiations
  • Know when to stay and when to walk
  • Practice negotiations to develop new skills
  • Receive individual feedback to enhance their performance
  • Negotiate against the clock to balance time and outcome
  • Demonstrate how to maintain good relationships while winning business
  • Demonstrate how to negotiate improved outcomes for themselves, their clients and business partners

Prepare to negotiate

  • Why we negotiate
  • Where races are won – and lost
  • What does Win/Win really mean?
  • Planning negotiation outcomes
  • What will they be planning?
  • Hard and soft outcomes
  • Seeking the easier routes
  • Preparation for specific scenarios

Exercise: Pairs exercise – looking for the mutual benefit 

Interests and Positions

  • Describing their positions
  • Connecting with interests
  • Describing our own Positions and interests
  • Looking for strengths & weaknesses
  • Outlining walk away status
  • Describe your BATNA
  • Consider how to use your BATNA
  • The balance of power

Exercise: Practice preparation in pairs– your next negotiation 

Becoming Skillful Negotiators

  • Who do you like negotiating with?
  • Creating the right first impression
  • Building rapport and connection
  • The power of questions
  • Questioning styles and types
  • Listening for negotiators
  • Flexing and re-positioning
  • Re-framing for your outcome
  • Why should they?

Exercise: Questioning skills for positions & interests 

Negotiating with IMPACT

  • Structured negotiating
  • Applying skills to situations
  • Questioning with confidence
  • Understanding their positions
  • Looking for alternatives
  • Asking for what you want
  • Seeking solutions using benefits
  • Identifying “sticky” points
  • Moving to the best solution

Exercise: Negotiation practice in small teams, with feedback 

Techniques for “tough going”

  • The most powerful words
  • When to stay and when to go
  • The “Columbo”
  • Testing their desired outcome
  • Face to Face/Phone/email/other?
  • Persuasion: better than telling
  • What does “no” mean?
  • Deadlines and concessions

Example: Application of techniques to a range of situations 

Improving with Practice

  • Interactive exercise/scenario
  • Implementation of learning
  • Developing through feedback
  • Learning through watching and doing
  • Identification of individual learning points
  • Win/win in practice

Exercise: The Deal – team/pairs exercise with feedback 

Handling Objectives and Objections

  • Practical application of tools & techniques
  • The power of the 3-minute presentation
  • Opportunity for preparation and practice
  • Individual feedback
  • Audience participation
  • Building confidence in you and your audience

Course Conclusion

The trainer works with all levels of management helping them develop new skills to improve organisational sustainability.

He specialises in helping organisations achieve their goals, by developing their people & increasing sales. Recent projects include Finance for Sales with Tata Steel, Finance & Commercial Negotiation Skills for ESPO, and a “mini MBA” programme for Oman Broadband, in addition to leadership and communications skills programmes for financial services, manufacturers and healthcare professionals.

He specifically designs training for companies to help managers & leaders understand how their decisions affect overall performance. This training has been delivered in 25 countries across Europe and the Middle East, with clients in at least 150 organisations, including 8 insurance companies, 7 banks, 5 energy services companies, plus hotels, automotive companies, retailers, agriculture, charities and public sector organisations. His background in financial services enables him to work with a wide range of institutions to develop their business and communications skills. The trainer can combine this with coaching and leadership skills, while remembering that professionals in many organisations have to develop their communication skills to match their responsibilities.

The trainer’s qualifications include an MBA from Cranfield University, and he is a Master Practitioner in NLP.  He also holds the Financial Planning Certificate, is Level A qualified in Psychometric Testing through the British Psychological Society, and is a Fellow of the Chartered Institute of Personnel & Development. In addition he is a Member of the Institute of Training and Occupational Learning, The Chartered Institute of Bankers, Associate Member of the European Mentoring & Coaching Council, and a Fellow of the Professional Speaking Association.

 

KEY SKILLS AND ACHIEVEMENTS

Working with a variety of training suppliers designing and delivering Sales and Management training to delegates from varied backgrounds.

  • Improving Impact in Communication, & Communication for Performance, FBN Bank London
  • Persuasion, Influence & Negotiation in Financial Services – open training in London
  • Negotiation Skills for Client Relationship Building in Mergers & Acquisitions - London & Miami, plus Deloitte London
  • Change and Resilience Training – Invesco
  • Financial Oversight training – James Hambro LLP London
  • Universal Banking Skills - Major Strategy, Change, Innovation & Sales Skills development 10 day programme for Middle Eastern bank, involving main board members and senior management
  • Strategy, Risk, Organisation Culture and Key Account Management Skills for Divisional Directors and Managers– Kier Group
  • Communication Skills for Managers – Charles Stanley
  • Financial Analysis & Development workshops - American Express Bahrain
  • Advanced Financial Statement Analysis – Bank of Palestine, Ramallah
  • Finance, Budgets & Business Case webinars NFU Mutual
  • Influence & Persuasion Skills – Co Operative Bank
  • Building Impactful Relationships – Handelsbanken UK
  • Compliance Training, including Retail Distribution Review, Regulator visit, professionalism & ethics, and Conflicts of Interest – for Insurance brokers, banks, & investment advisors – London & across the UK
  • Boardroom communication skills –UIA Insurance UK
  • Investment Strategy & pension fund accounting – Nigerian National Pensions Regulator, Lagos
  • Management & Leadership Skills, plus Advanced presentation Skills - Senior Partners, London Stockbroking firm
  • Business Planning & Financial Management Skills training – Self employed insurance agents running their own agencies
  • Mentoring Skills for Deutsche Bank

Mentoring and coaching business professionals in skills and personal development

  • Coaching for business development – Finance Director of private retail chain, Insurance Broker, Pensions specialist and Senior Solicitor
  • Mentor for Mowgli – the cross cultural mentoring charity

Development and delivery of training solutions for managers working with high net worth clients in retail financial services.

  • Delivered and developed substantial consultative sales programme for new Account Managers and Account Executives
  • Delivered sales management training to Centre Managers and Sales Managers enabling them to increase sales and develop their staff through coaching
  • Trainer training in sales and instructional techniques for new team members, enabling them to quickly deliver effective training courses

Responsible for staff providing sales and service to personal customers in branch banking.

  • Developed sales in areas of investment business, leading to multi million pound introductions to bank investment managers
  • Running training courses in management, negotiation & lending skills
  • Controlling lending and recovery negotiations through a team responsible for a multi million pound lending book
  • Reducing the level of bad debts through effective management of lending team and their processes
  • Developed and maintained multi million pound business from a portfolio of high net worth clients

You negotiate every day, but the biggest negotiations often have far-reaching implications. To handle those, you need to understand what to do, what to say and where you want to be. As with many successes in life, it is the work in advance that really wins the day: in this programme, you are provided with the tools and techniques for both preparation and for meetings, calls or messages.

Using a structured approach to negotiating is where confidence can be built and developed, and where reviews can be more effective as improvement areas are more easily identified. In a skills area like negotiation, there are no limits to how you can be – this is why a structure which is flexible but practical can help you improve.

Much of your success will depend upon mindset: you can influence your own even if you cannot always control the other persons. Being prepared to be flexible can be planned in advance.

Most negotiators develop habits and traits which work for them, but which – over tie – tend to come down to a small range of behaviours and habits. In this training, we help you evaluate your own habits and mindset and identify new approaches which will provide you with a more flexible yet still professional approach.

  • I believe the best way to move forward in terms of acquiring or developing a skill is to first understand where you stand today as well as the pitfall of your current actions. The course managed quite brilliantly to bring to surface the common errors made in our day to day negotiations. Understanding this helps me to both avoid these pitfall in the future as well as look for alternatives making progress smoother.
  • Good tips and insights, training delivered by a very experienced trainer, and the practical training in small workgroups.
  • The course brought a structure to the existing knowledge as well as presented the concepts of BATNA, WIIFT/WIIFM. Additionally, the tutor shared some insights how to deal with the questions and how to manage the process of negotiations.
  • A very clear example of the negotiation process with the selling of the motobike, applying concepts of BATNA, PPP, WIN-WIN. Very good Tutor with very clear messages.

Have this course presented In-House

  • On a date, time and in a location of your choice
  • Topics expanded or deleted to your bespoke requirements
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Have this course pre-recorded

  • Full course recording edited exclusively for your company
  • Files converted to enable housing on your LMS
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