5 Ways Financial Advisors Can Get New Prospects


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In any industry, relevant leads are worth their weight in gold.

For financial advisors, this is especially true, considering how difficult it can be to reach a relevant audience in the face of strict compliance laws. That’s why it’s crucial for you to think outside the box—connecting with prospects both creatively and organically.

If you’re a financial advisor who’s serious about generating new leads, take action today with these effective prospecting tips.

1. Join a club

It might seem simple, but joining a club is one of the best things you can do if you’re looking to meet new prospects. So many professionals spend thousands of dollars to attend networking events, only to wind up disappointed at the end of the night. Rather than burning a hole in your pocket for leads that don’t go anywhere, spend time doing something you enjoy.

Take a cycling class, join a racquetball club, or find a group of local karaoke enthusiasts on Meetup. When you join these groups, you’ll find yourself having organic conversations with people from all walks of life—many of whom will either need your services at some point or know someone else who does.

2. Connect on LinkedIn

While there are potential leads to be found on any social network, LinkedIn offers unique opportunities to connect with relevant prospects.

This is because people don’t use LinkedIn in the same way they tend to use other social media platforms. They go on LinkedIn because it’s a vast network of professionals looking to grow their business or otherwise advance in their careers. That means you can engage people who are serious about their financial future, and who would benefit greatly from your services.

Start by asking to connect with people who are already connected with your clients and colleagues. Once they accept your request, send an introductory message explaining how you know your mutual acquaintance, and letting them know that you’re available if they need anything.

To learn more about how you can leverage LinkedIn for your business, check out this interview with Keith Wilson, assistant vice president of Securitas Insurance Partners, LLC.

3. Give a seminar

One of the best ways you can connect with new prospects is by offering something of value. Of course, when it comes to the world of finance, information is often one of the most valuable things you can give.

Plan a free presentation on a topic you know well—one that will be useful to a specific audience. Then, promote the event wherever that audience is most likely to see it, whether that’s on social media, in the event listings of your local newspaper, or somewhere else altogether.

Make sure that you make yourself available to answer additional questions and network with your attendees after the event. Get their information, and make sure they have yours. A great way to ensure you stay top of mind is by handing out promotional copies of your customized magazine from ReminderMedia, which is chock-full of compelling articles and amazing recipes. And, unlike a business card, your magazine will stay on the coffee table and out of the recycling bin.

4. Host a webinar

In the digital age, it’s becoming a bigger challenge to compete for attention, let alone get someone to attend a seminar in person. While meeting face to face or over the phone should be your ultimate goal, a webinar can be a great way to get somebody into your lead funnel—so long as you require advanced registration and collect legitimate contact information.

The biggest benefit of webinars is that they make it easy for would-be clients to attend your presentation from the comfort of wherever they are. While you won’t be able to engage with your audience in a physical space, you’ll still be able to create a compelling, multimedia presentation, while interacting with your clients in real-time via your webinar platform’s built-in chat function.

Can’t decide which platform to use for your webinar? Click here to learn more about some of the best options available. And, if you’re looking for tips for hosting a successful webinar, watch this short video.

5. Ask for referrals

Many professionals believe that you should lead with exceptional customer service, and feel confident that doing so will result in a wealth of referrals down the line. But, in some cases, you might find yourself waiting a long time for those referrals.

If you’ve been providing a great experience for your clients, you should consider making it easier for them to connect you with their friends and family. Be honest about the fact that you work on referrals, and ask them directly if they know anyone who would be able to use your services.

When your client provides you with a new prospect, be sure to thank them with a phone call, a handwritten note, or a thoughtful gift. By showing your sincere gratitude, you’re increasing the odds that your client will give you more referrals in the future.

Whichever methods you choose for connecting with new prospects, be sure that you’re ultimately focused not just on making a sale, but on developing a lasting relationship. When you play the long game, you’ll be rewarded with referrals and more business for years to come.

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

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