Financial Advisors, Get the Right People on the Bus

There’s no mystery about why . . .

Top Performers arrive at the top.

In our more than 1,000 interviews with advisors of all types over the last decade, one quality of these top performers shows up again and again.

Jim Collins, author of “Good to Great” has a fascinating way of pinpointing this difference:

“Leaders of companies that go from good to great start not with ‘where’ but with ‘who.’ They start by getting the right people on the bus, the wrong people off the bus, and the right people in the right seats.”

When building a marketing and growth plan for clients, after getting an overview of the current landscape, our Job #1 is defining a portrait of the ideal client and turning that into a target market or niche.

To continue with the top client analogy from Jim Collins, we typically fill a bus from the current practice. The next step is to figure out:

  • – who these people are,
  • – where they came from,
  • – what’s their destination, and
  • – what route we will take to get there.
  • Suppose the advisor were to fill a bus every year with some 12 to 24 passengers (their ideal clients) and travel a similar route with these passengers. Then, these advisors would relatively quickly reach their desired practice filled with clients they enjoy.

    To Fill Your Own Bus with Your Desired Clients Consider:

    The Riders:
    What do they look like? What are their backgrounds, goals, and experience with money and investing?

    The Route:
    Where can you find many more just like them (your niche or target market)? How will your services and products get them to their destination? How long will it take? What will the experience be like along the way for the clients?

    The Bus Stop to Pick Up Riders:
    What is the reason they engage you to start their journey? What are the “money-in-motion” drivers?

    The Fare:
    What will they pay to get there? Will it be a one-time fee? Or will they “buy a transit pass” with ongoing fees?

    The Destination:
    Where are they going on their financial journey? When you get there together, how will you both know? (Your answer will go beyond simply planning or investing for retirement.)

    Yes, good employees, partners, vendors, B/D/Custodians, investment managers, support people (and dare I add marketing and communications help) are important.

    But what is CRITICAL to your long-term success is having the right clients on the bus that you are driving.

    Yours for more production and income in 2015 and beyond!

    Bob Hanson
    617-901-6886

    P.S. You can find out more about how our clients successfully “Get Into Their Growth Groove” and “Discover Their Ideal Clients.” A blueprint is in Chapter 7 of our new book “Marketing Power for Financial Advisors.” For more about the book, CLICK HERE:

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    About Bob Hanson

    Principal, Client Attraction System for Financial Advisors
    Bob Hanson has worked with hundreds of financial advisors, professionals, and companies to drive documented results of 300% in new prospect flow within a week, a 70% increase in annual income within 12 months, and a boost in sales of 5 times for a firm in a little over 36 months. In addition, Bob is a Webinar specialist, a White Paper expert, and an experienced Centers of Influence strategist who helps marketers tap the full potential of these powerful marketing tools.

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