A Simple Way to Stand Out from Other Financial Advisors - Bill Good

A Simple Way to Stand Out from other Financial Advisors

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
  • New clients

There are many reasons why dripping is effective at all these things, but chief among them is that it creates TOMA, or Top-of-Mind-Awareness.  

stand out compared to other advisors

By seeing your name and your expertise (or patriotism, or caring nature, or any other virtue) every single month, clients want to stay with you.  Prospects seek advice from you.  And both, eventually, will entrust more of their precious assets to you. 

Recently, however, I've noticed many advisors making a common mistake when it comes to dripping.

A common mistake many advisors make

The mistake is simple: too many advisors, trying to cut expenses wherever they can, decide to drip on their clients using email instead of letters.  

Don't do this.  

I said above that dripping is effective because it creates top-of-mind-awareness.  But in order to create TOMA, you must use letters.  Sorry, but emails just don't work as well.  That was true in the nineties, it was true in the aughts, and it's true now.  People get dozens of emails every day, but they almost never get letters.  

For that reason, letters get noticed more than emails.  They get read more than emails.  And because they are something tangible that you can hold and frame or stick on your refrigerator, they get saved more than emails.  (And by the way, I've heard numerous stories about clients doing all these things.)

Just as importantly, I guarantee that most of your competitors aren't sending letters.  That's why sending them is such a simple way to


Here are just a few recent stories we’ve received from other advisors like you.  None of them would have been possible without letters

The lesson: if you want stronger client retention, more assets, and more clients, make sure you are practicing the art of DRIPPING...and don’t try to save a few bucks by skimping on letters!

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