How 1 successful Financial Planner gets new business
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How 1 successful Financial Planner gets new business

February 20, 2015

by Tony Vidler

If there is one question that continually crops up in my weekly travels it is

“What are other advisers doing that is successful for them?”

Every so often one is willing to share their trade secrets, and this is how one leading financial planner that I know gets his business:

New Business Sources

Despite the enormous effort that has gone into creating a superb corporate brand, with multiple offices nationally, very little lead generation occurs as a result of the corporate branding.

A perhaps lower than usual proportion of new business comes from existing clients – but this practitioner is an excellent technician as well as being a superb relationship manager.  Frankly, most clients give him all their business so there is not usually too much that is held back at the beginning.

The 2 primary sources of new business have been seminars and a deliberate strategy to market his specialist skills to other financial advisers.

The seminars are educational and informative in approach, and explore in detail the areas that the adviser is an expert in rather than being broad brush “try to cover as much ground as possible” seminars.  The result is that he is clearly positioned as a credible and engaging expert.

For this planner a good year is 20 new clients.  He has clear objectives, and a clear target market, and strong positioning.  To get the number of new clients he needs he does not have to maintain a lot of strong referring relationships with his COI’s – being other financial advisers – just a few relationships which are excellent. He aims for 5 referrals p.a. from each COI – and gets them in the main.

The key lesson?

If you are aiming for high value clients then a few high quality referrers that you work very hard to maintain great relationships with and to understand and drive their business needs will produce good results for you.  If you complement that by providing informative and relevant content to the target market that cements your position as a credible expert, then you will get the new business results you need.

Next week we will share a bit more about how he builds and structures those relationships.

You may also find this post useful:

Creating a Win-Win is the key to successful networking

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