Client Attraction Action

Grow Your Practice In Uncertain Times

October 4th, 2010

Marketing for Financial Advisors,

Whether You Are Building Your Financial Advisory
Practice Today Or Starting A New Practice . . .

Planning is paramount.

For an established advisor, be honest about the clients you really enjoy working with. Also, if you are eyeing a new direction, take the “enjoyment factor” into consideration, too.

As a new financial advisor, you will need to commit yourself to exploring your Ideal Target Audiences. (Look into 3 to 5 target audiences.)

Find audiences you have a kinship with, for example on personal interests, business experience, age, or hobbies.

Committing to your target audiences demands more than a light touch for each choice. It calls for deep exploration.

Recently, I wrote an article for a successful advisor with 17 years of experience. He is prospecting for new clients in a field he has specialized in for many years.

Because he was reaching out to people who did not know him, building his positioning with the prospects was vital. The steps we looked at included:

Four Steps To Prospecting Power

1 - Unique Experience
2 - Credentials
3 - Expert Skills
4 - Your Process For Investing

You can think of them as four steps to assembling your differentiation and enhancing trust.

>> Step #1 - Describe how your past and current unique experience contributes to your practice today.

There’s a story there that only you can tell.

>> Step #2 - Give a rousing fanfare for your credentials.

If you don’t have a CFP(R), for example, or other significant designations, bolster your standing by describing what you do have.

A client, who happens to have 25 years of experience along with a Ph.D. in another field, uses his 7 FINRA licenses to “demonstrate his lifelong commitment to the pursuit of excellence as a financial advisor.” Build your credibility with everything you’ve got.

>> Step #3 - Reveal how you put your expert skills and strengths to work for your clients.

A new advisor, a retired airline pilot, draws on his rigorous training and the demands of being a commercial pilot like this:

“Being a pilot for 32 years has taught me how to solve a problem without allowing emotions to intrude, to develop and follow checklists, and to count on systems that are structured and repeatable. I bring these to my practice along with the sense of being accountable and the need for continual training and education.”

>> Step #4 - Call On Your Process For Investing

If I were looking for an advisor, I’d want to be doubly sure that they have a system in place for working with clients (It isn’t selling the same solution to everyone).

Also, I’d want to be reassured that they have a well-developed process for managing my money. List its steps, and if you can give it a name, all the better.

Positioning Power

Think of your differentiation as more than a 7-word tagline. You might develop a document such as “What Makes Us Effective?” or “How Are We Different?” Draw on these 4 points above and add several more to create your compelling case.

We invite you to a Live Webinar for Financial Advisors with Conference Plus and the Virtual Presenter Roger Courville along with Bob Hanson.

“How Financial Advisors Can Promote and Deliver Engaging Webinars”

It’s for financial advisors new to webinars or those seeking to improve their results.

http://www.MarketingPlanFinancialAdvisor.com/webinar.html

Entry Filed under: Financial Lead Generation, Financial Advisor Marketing Plan, Financial Advisor Marketing