This is David Baker, an advisor in Maryland.
Like many advisors, he spent much of his career working with clients in “mass affluent” territory. Think $250k in investable assets. Maybe a little more, maybe a little less.
Like most advisors, he dreamed of catching bigger fish — building a practice based on working with HNW individuals. Think anywhere from $1M to $10M.
Like few advisors, he has done exactly that. Check out these growth numbers:
- 2020: $18M in net new assets
- 2021: $29.8M
- 2022: $34.3M
- 2023: $45M
- 2024: $50M
- 2025: $60M
When it comes to growing your business, there is perhaps no force multiplier bigger than boosting the average net worth of each client that comes through the door. David has been able to do that while simultaneously spending more time with his family.
Today, nearly all of his new clients are HNW investors.
How did he do it? By changing four things about his marketing, his practice…and himself. And in this recorded webinar, he shares them all with you.
Why Most Advisors Struggle to Win HNW Clients
Most financial advisors want to work with bigger clients. It only makes sense. Do all the work to find, close, onboard, and manage five $200k accounts? Or do it all in one blow for a $1M account?
Unfortunately, just because it makes sense doesn’t mean it’s easy.
David learned that the hard way earlier in his career. Because even when he did get in front of the occasional HNW investor, he would rarely win their business.
Part of the problem? David’s background was a lot different than most of the HNW investors he wanted to work with. So convincing them that he truly understood their goals, their needs, and their pain points was always a challenge.
How David Rebuilt His Practice from the Ground Up
Most financial advisors want to work with bigger clients. It only makes sense. Do all the work to find, close, onboard, and manage five $200k accounts? Or do it all in one blow for a $1M account?
Unfortunately, just because it makes sense doesn’t mean it’s easy.
David learned that the hard way earlier in his career. Because even when he did get in front of the occasional HNW investor, he would rarely win their business.
Part of the problem? David’s background was a lot different than most of the HNW investors he wanted to work with. So convincing them that he truly understood their goals, their needs, and their pain points was always a challenge.
What You'll Learn in This Recording
- The key marketing changes David made that have enabled him to get a lot more introductions to HNW individuals.
- How to project a “command presence” when talking with HNW individuals that makes them see you as an authority and not just another advisor.
- Why it’s critical to change your mindset…to the point that HNW prospects can see and feel it.
- The most critical processes for closing, onboarding, and managing HNW clients.
- The role your team must play in order for you to switch to a HNW model without losing existing business.
HNW prospecting shouldn’t be random. It shouldn’t rely on luck or chance. It shouldn’t be about hoping someone will introduce you to someone else.
It should be systematic. Purposeful. Strategic.
In this webinar, David gives you some of the most important aspects of his system.
He shows you how to make your prospecting purposeful.
And you’ll walk away with a strategy for how to get started.
Ready to Start Landing $1–10M Clients?
If you want to prospect to the elite —
If you want to trade grinding for a half-dozen $200K accounts in favor of more $1–10M relationships —
Then it’s time to learn the four things you must change in order to get more HNW clients.
Oh, and by the way? In this webinar, David shares some of the resources he uses as part of his HNW strategy.
Watch the full recording now and start building your HNW practice today.
David Baker
Financial Advisor
Phoenix Private Wealth
Matt Hicken
Sr. VP of Consulting
Bill Good Marketing
