51 Ways of Prospecting for Financial Advisors
51 Ways to Prospect for Financial Advisors
Finding new clients is challenging.
Back in the day, it was the phone book. Today it’s social media, networking groups, and seminars.
It’s very hard to become the best at everything.
In the beginning, I suggest a shotgun approach. See what you like and what works for you.
If you're charismatic, maybe networking events are for you.
If you're an influential writer, maybe it's LinkedIn.
Whatever you do, just make sure you do A LOT of it.
I have included my top 5 activities with several other ideas for you to consider.
LinkedIn is number one because this is where your clients are. Make sure you build a strong, attractive profile and take the time to learn about LinkedIn's capabilities.
Google is the most powerful search engine in the world. Use Google to do research on people you are trying to connect with. Use your insight to your advantage to help you land the meeting, and eventually your prospect.
Center of Influence - Estate Attorney and CPA
If you can form a solid relationship with 1 or 2 CPA and/or estate attorneys you will put yourself in a great position to be successful.
Don't ask your clients for a referral. Ask your clients to introduce you to 1 or 2 of their friends or family. The more specific you are the better. For instance, if you know that your client knows someone who you have been trying to connect with, ask your client to introduce you to that individual. This is much more effective strategy than just asking for a referral.
BNI, Rotary Club, and Other Local Networking Groups
Join BNI, Rotary Club, and Other Local Networking Groups
Reach out to acquaintances and former colleagues. Ask to reconnect or deepen the relationship.
Current Business Affiliations
Contractors, Plumbers, and everyone else you are doing business with now. Contact former or current vendors and people you did or do business with. Let them know what you're up to. If you have done business with them they will be more likely to want to return the favor do business with you!
Look through alumni publications connect with old friends.
Center of Influence - Insurance Agents
Contact local insurance agents, who do not offer financial planning and let them know you'd like to be a resource of information.
Annual Reports of Companies
Research annual reports, write down names of executives, search them on Spokeo, call with the Executive script found here.
Public Records - Birth
Check public records for recent births. (529 opportunities)
Public Records - Marriage, Divorce
Search your local county court records for recent deaths, divorces, marriage and other vital records (money in motion - huge opportunity)
Utilizing public salary information.
Search executive salaries and contact qualified prospects and awardees of new bonuses.
Connect with local business executives - firms typically highlight their management teams on their website.
Center of Influence - Bankers
Contact local Mortgage Banker and Insurance Agent and build a relationship.
Join your local Chamber of Commerce, BNI, Local Business Network, Mastermind Group, LeTip, Women in Business Networking, CVB, Local Merchant Association, Rotary Club, Kiwanis, and Optimists. Once you join, contact every member and tell them you're new and looking to build some relationships. Offer to grab a coffee!
Police, Fire, and Municipality
Search city directory and connect with authority figures.
Contact city officials and learn more about how you can be involved in the community.
Call your current clients and tell them you are hosting a "client appreciation event." Ask them to invite one new friend who they think can benefit from your service.
Boat Shows & Everything else
Set up shop at the boat show. Boat shows attract affluent clients. Try to think of other shows in your area that attract the same affluent clients. (Wine, Food, Golf etc)
Search for recent court settlements and contact the beneficiary.
Online Employee Direcotries
Go to the local big company website and see if you can search their directory for employees contact information. Call them and introduce yourself.
Search endowment organizations and contact administrator for an introduction.
Money in motion - Estate Sales
Search for local estate sales and visit. More often than not beneficiaries of the estate will be present. While visiting, introduce yourself, express your condolences, and hand them a card in case they have any questions.
Center of Influence - HR and benefits executives
Search administrative employees and email or call for an introduction.