In financial services, it’s all about the clients. What your clients need, what they want, where they are, where they’re going and who they can refer along the way. There is no business without clients, and all financial advisors must be experts in the art of finding new clients and engaging existing ones.
“Prospecting is really the lifeblood of an advisory firm,” says John Anderson, managing director of practice management solutions at SEI in Oaks, Pennsylvania. “If you’re not growing, you’re dying, especially if the advisor has an aging book.”
As clients grow older, they shift from accumulation to distribution. “And as an advisor’s (assets under management) decrease, so will their income,” Anderson says.
So how is a financial advisor to keep a book young? By continually bringing new clients into an advisory practice and engaging the ones you already have.
How to Get New Clients as a Financial Advisor
… Read More