Have you ever felt like tearing your hair out because you just don’t know where to look for new prospects? If so, the solution to finding fantastic prospects is surprisingly simple: To figure out what your best prospects look like, and where to find them, first take a look at your best clients…
Have you ever felt like tearing your hair out because you just don’t know where to look for new prospects? If so, the solution to finding fantastic prospects is surprisingly simple: To figure out what your best prospects look like, and where to find them, first take a look at your best clients…
A “channel” is a “trench, furrow, or groove.” Water flows in channels — and so do assets. Example: You have a client who is a real estate agent in a high-end golfing community. She is making money hand over fist and adding $500,000 a year to her portfolios. You ask yourself, “How can I get more clients like this?” Well, you need a list. Here are some possible steps…
The Importance of Dripping – for decades, I have coached financial advisors to send a letter to their clients and prospects every month on a topic of interest to them. This is called “dripping,” and it’s key to: client retention, business now, new assets and new clients. There are many reasons why dripping is effective at all these things..
Volatile markets are something all financial advisors have to deal with sooner or later. During my forty years in the industry, I’ve coached tens of thousands of advisors through multiple bear markets and dozens of market corrections. The 1987 stock market crash. The bursting of the dot-com bubble. The aftermath of 9/11…
If you are unprepared, uncomfortable on camera, babble about random facts that are disconnected from your topic, and tell bad jokes, you won’t get the appointments you need to keep yourself in business. On the other hand, if you are well-prepared, and your webinar topic is relevant and interesting, you interact with your audience, then you will get appointments…
If 20% or more of your clients are over the age of 75, you have a problem. In the next few years, if a significant percentage of your client assets will be owned by clients who will be over the age of 75, you have a problem. Several years ago, I researched what happens to assets when clients die…
Unless you’re brand new as a financial advisor, you’ve likely had one or more windfalls. One might have made your month. Another could have made your year. Occasionally, you will hear of a windfall that makes a career. Perhaps yours. Here are two that made careers. A phone call to an advisor, “I want you to meet my new…
Should you prospect during the COVID-19 pandemic? Of course you should, but you need the right strategy. In this article series, we’ll discuss four campaigns you can run from home with just a few resources. Let’s start with a question you may think is obvious. Should you ever ask for referrals? You say, “Of course. I just…
You spend countless hours helping your clients get ready to retire. You coach them on how to structure their investments to maintain the lifestyle they desire. You help them with Social Security, possibly Medicare. You may even offer counsel on where to live. But what about you? Almost every advisor I talk to has a single answer…
A number of advisors have told me, “Seminars don’t work.” True, many have failed to make it work. But for those who get it right — and yes, seminars do work — the results can be explosive. Here is a look at 10 key concerns about seminars. Addressing these issues is critical if you are considering, or are actively enga…
Don’t think for a minute you can escape fee compression. It’s happening now and will continue to happen. Fees are now 1% or even a little less. Ten years ago, they were double that. In another decade, or sooner, they will be half what they are now. Why? Supply and demand. The Department of Labor fiduciary rule has chased thousa…
If 20% or more of your clients are over the age of 75, you have a problem. In the next few years, if a significant percentage of your client assets will be owned by clients who will be over the age of 75, you have a problem.
Several years ago, I researched what happens to assets when clients die…
The greatest prospecting opportunity in the history of this industry is right now.
No, it’s not cold calling.
It’s not the “85% of high net worth investors who would consider changing advisors or be open to a second opinion.” It’s not networking, referrals, introductions, seminars, direct mail, or anything else.
It’s the legions of baby boomer brokers who…