In recent workshops, I’ve talked about the need to focus on one primary business goal for each key client you work with.When I ask advisors for examples of possible objectives, the one that comes up first most often is “consolidating accounts held elsewhere.”
Wanting to do this is a good start …. The key question is how best to go about this.
Becoming the exclusive financial advisor for key clients has always been a priority for advisors … but these days, this is even more important. Partly that because advisors are looking to regain some of the assets lost in last year’s market decline – and in part it’s because of the recognition of the risk that if you don’t act, another advisor you share a client with might.
Earlier this year, I conducted a series of workshops sponsored in part by Mackenzie Financial.
Recently, a Mackenzie wholesaler emailed me with a question from an advisor, curious if I had any ideas on how to initiate referrals targeting million dollar plus clients.
As you move up the high net worth ladder, confidentiality becomes a bigger and bigger concern – and anything resembling a traditional mass market approach to referrals simply doesn’t work and in fact can harm the relationship.
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In recent workshops, I’ve talked about the need to focus on one primary business goal for each key client you work with.When I ask advisors for examples of possible objectives, the one that comes up first most often is “consolidating accounts held elsewhere.”
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