In working with wealth advisors, I have found that the quickest and most effective way to add new clients to a practice is to build a lead-generating process around a story that resonates with your target client.

It’s one reason why a book can be a great tool that can be scaled.

I do have some observations and suggestions that might be worth considering and testing:

  1. Everything starts with making a contact, building a relationship, uncovering needs (or fears), offering a solution and securing the client engagement. – Make new contacts!
  2. People only need one reason to consider and decide to have you become their financial advisor. Probe to find out what is their biggest challenge or problem.
  3. You need to know the things that your firm is great at and to wrap them up around a story – What are your special talents and what are you great at?
  4. Creating an ongoing sales process that tracks actions completed is the best way to build ongoing sustainable sales. This includes calls, emails, meetings, proposals, offers, etc. – Track your activities!
  5. One of the best way to attract attention is to offer something of value for free. What can you give your potential client to generate good will?

Growing your firm takes some art and more importantly, math. You need to know what you have to offer and the problems your client faces but you also need to generate trackable activities. You only can do this when you start making contacts on a regular basis.