4 List Building Tips for New Financial Advisors

admin

Posted on

If you’re a financial advisor, your long-term success depends on your ability to attract and retain clients.

First of all, you need to be able to make the investment decisions that will benefit your clients both now and in the long run. But you also need to be able to build and maintain relationships—a skill that needs to be honed through persistence, as well as a rock-solid client list.

But who should be on your client list? And, more importantly, how do you grow this list in the future?

Keep reading to find out how you can go from no clients to a virtually unlimited number by connecting consistently and offering undeniable value.

Look to your sphere.

When you’re starting out as a financial advisor, it’s all about getting those first few clients on board. For most advisors, that means connecting with people who are already in their network. But, whether you’re brand new to the field or looking to add to your existing client roster, you simply can’t afford to overlook your friends, family, and professional connections. Figure out who would benefit from your services now, as well as who might need them in the near future.

Make sure you reach out to the people who are on your list and let them know about your new business. Whether or not they end up customers themselves, they’ll definitely know other people who might be interested in what you have to offer.

And remember: if people aren’t interested right now, you can always follow up and try again later. By showing that you’re committed to winning their business, you’re more likely to remain top of mind, if and when your services are needed.

Attend conferences and networking events.

Regardless of your line of work, there’s immense value in rubbing elbows with other professionals. You can learn valuable lessons about running a business from others who’ve already walked the walk. There are also a number of options out there for events you can attend and groups you can join.

If you’re a young financial advisor looking to network, there are many events specifically designed for young professionals. When you attend these events, you have the opportunity to meet business-minded individuals from a wide range of different fields. By doing this, you’ll definitely come across some people who might be able to benefit from your services (or who know someone else who can).

You might also consider joining a peer group made up of other financial service professionals. Though you’re not going to walk away from those events with pages of new leads, you can still benefit from the expertise of your peers. Plus, you might be able to form valuable partnerships, which will lead to more business for you in the future.

If you’re looking for networking events in your area, try running a search on EventBrite.

Connect with retirees.

If you’re having trouble connecting with people in your peer group, you might consider setting your sights on an older generation. Recent retirees—or people who are approaching retirement—are among the people most likely to need the services of a financial advisor.

Try putting up flyers at a community center, coffee shop, or anywhere else in your community that retirees might congregate. Or, better yet, leave promotional copies of your customized, branded magazine from ReminderMedia—something that will provide value to your prospects right out of the gate, and which you can use to nurture relationships for years to come.

To learn how you can use promo copies to connect with more leads and drive more sales, download our free success guide.

Make friends (and turn them into clients).

For many financial advisors, one of the most effective ways to connect with new clients is by building new relationships that have nothing to do with business. That means going to professional networking to create legitimate, human relationships.

By joining social clubs or Meetup groups, you can spend time with people who share your interests. And, naturally, the conversations you have with these people will turn to business. From there, you have new people to add to your list—not to mention all the leads you’ll be able to connect with through them.

When your client’s financial future is in your hands, it’s most important to prioritize long-term success over a few small wins in the present. This approach should also inform your approach to client relationships. You won’t win over every client in a day, but, with a little persistence, you’ll succeed in the long run.

Free E-book: How Financial Advisors Can Connect with Millennials

Written by admin