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How to Find More Money in Your Book

If you’re like most financial advisors, you would love to find more money in your book, wouldn’t you?  

You can by taking what call the Find the Money Challenge.  

How to Find More Money in Your Book

For years, I’ve taught advisors that you can always find more money in your book.  No matter who you are or how long you’ve been in business, there’s more client assets out there that you don’t know about. 

Here’s the proof:

How to find more money in your bookThe man to your left is Yusuf.  He has a pretty incredible – and inspiring – story.  It starts with sickness and ends with Yusuf finding over $8 million in new assets from his book. 

You see, a few years ago, Yusuf was diagnosed with cancer.  Then, he had a heart attack. 

As you can imagine, Yusuf wasn’t able to work for quite a while.  By the time he recovered, his practice was devastated.  Suddenly, he had a terrible choice to make: try to recover all he had lost (a daunting proposition), or get out of the business altogether (a haunting one.)

Courageously, Yusuf chose to fight for his business. 

He started by focusing on the clients he still had, calling each one to update all their information.  He also embarked on:

The Find the Money Challenge

The idea behind the Find the Money Challenge is simple.  As I said, no matter who you are or how long you’ve been in business, there’s more client assets out there you don’t know about.  My long-standing challenge to advisors is to make a concerted effort to find that money. 

Back to Yusuf’s story.  As Yusuf called each of his clients, he asked each and every one if they had money elsewhere.  Remember, these were all people who had lost money while he had been sick.  So it was fairly gutsy of Yusuf to even ask. 

Now here’s the amazing part.  All of his clients answered his questions.  Many of them did indeed have money elsewhere. 

And most of them told him that if he could turn things around, they would give him the money to invest. 

Yusuf’s classy response:

“You may never give me the money, but my plan is to do everything I possibly can to get back into the conversation with you.” 

One client, for example, said they were thinking of taking their business elsewhere.  The conversation ended with them saying they would invest the money with Yusuf when an upcoming real estate sale went through. 

Currently, Yusuf is in the middle of an amazing comeback.  Thanks to his commitment to his clients and his masterful execution of the Find the Money Challenge, he’s currently discovered over 8 million in assets from his existing clients. 

Frankly, Yusuf’s experience with the Find the Money Challenge isn’t all that unusual.  When I posted Yusuf’s story to LinkedIn a few months ago, a former FA named David had this to say:

Years ago I changed firms and took a rather small amount of assets with me. I was devastated. I had just started using the Bill Good Marketing System, so I the Find the Money Challenge and found 30 million in AUM from the clients that moved with me. Over the next 12 months I brought in 14 million in AUM.  Needless to say I was back in business. I was and am forever grateful for teaching me how to raise additional assets within my own book.

How to do what Yusuf did

Over the next few weeks:

  1. Call every single one of your clients.  Don’t just focus on your top 10 or top 20.  Call everyone, even that little old lady who always seems to generate more paperwork than business.  Call everyone.
  2. Whenever you speak to someone on the phone, ask them a series of Find the Money Questions.  Here are the questions Yusuf asked:
    1. What is your annual income?
    2. What are your fixed assets?
    3. Other than your portfolio with me, do you have any investments, mutual funds, RRSPs/401(k), TFSAs/IRAs, cash in the bank, or anything elsewhere?  
  3. SHUT UP while your client talks. 
  4. Track all the money you find on a spreadsheet designed specifically for that purpose.  
  5. Then, let me know what your results were!  

It really is that simple.  I’ve coached thousands upon thousands of advisors over the course of my career.  Almost every one took the Find the Money Challenge at some point.  Almost every one found more money in their book – oftentimes, a lot more.  

Want to take a more official version of the Find the Money Challenge?

Here at Bill Good Marketing, we have a special list of Find the Money Questions that help you dig even deeper than by just using Yusuf’s questions.  We also have a special tracking sheet to help you keep track of all the money you uncover.  

If you would like a free copy of either of these documents, just call:

Jill Webster
And say: “I want to take the Find the Money Challenge!”

So what are you waiting for?  Start today to find more money in your book.  Have fun, and good luck!


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