Three ways to inspire clients

Wednesday, March 10th, 2010

What’s your main goal when meeting with clients?Given the beating their portfolios have taken and the general mood of pessimism, often it’s to have them leave feeling more optimistic and upbeat about their future prospects and in particular about your role as their advisor.

After all, people shouldn’t see meeting with their advisor as a prescription for pain, similar to going to the dentist. Instead, your goal should be to have clients walk away from meetings feeling better than they did when they came in.

Here are three ways to do that, without pretending we aren’t facing real issues putting our credibility at risk.Help clients regain control

Tags: 2c, A6, Asset Mix, Conservative Estimate, Credibility, E2, Financial Future, Financial Futures, Financial Planning, Future Prospects, Gap, Going To The Dentist, Itt, Main Goal, Part Time Job, Pessimism, Pessimistic Outlook, Portfolios, Powerlessness, Three Ways, Tradeoffs, Work With Clients
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Become a Celebrity in Your Target Market

Wednesday, February 24th, 2010

This is a guest post by Bill Bachrach, Bachrach & Associates.

You may never see your name in lights or dazzle the crowd at Carnegie Hall. Yet there’s no doubt that a trusted advisor can achieve celebrity status among the people who matter most—your target market.

This kind of “stardom” means prospects recognize your name as soon as they hear or read it, you are looked upon as an expert, and your business is 100% referral-based. The benefits of this kind of usiness are obvious: extraordinary credibility that leads to countless introductions and natural, easy prospecting conversations—plus the bonus of knowing you are truly outstanding in your field.

Tags: Bill Bachrach, Carnegie Hall, Celebrity Status, Conversations, Credibility, Egos, Enhancement, Financial Choices, Financial Success, Introductions, Mail Campaign, No Doubt, Professional Association, Prospects, Publishing A Book, Referrals, Sophisticated Magazines, Stardom, Target Market, Write A Book
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17 Marketing Ideas to Reconsider

Wednesday, January 13th, 2010

This article is a guest contribution by Patti Branco*.

If the same old thing isn’t bringing in results, maybe it’s time to vary your strategy. Advisors use a variety of ways to get themselves in front of some new prospects.

If the market uncertainty has you paralyzed with procrastination, shake off your indecision by doing something different. While others stare at their computer screens and whine about how tough business is, you can get busy! Try some of these proven, and unusual, ways to market yourself.

Tags: Adult School, Affinity, Branco, Business Organizations, Captive Audience, Computer Screens, Credibility, Difficult Times, Expert 3, Indecision, Investment Expert, Investment Industry, Local College, Local Newspapers, Market Uncertainty, Marketing Ideas, Niche, Procrastination, Relevant Associations, Saving For College
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The Growth of a Financial Advisory Practice

Thursday, December 31st, 2009

Typically, financial advisors go through distinct growth phases or “paradigm shifts” as the practice grows. In the first few years of a financial advisory (FA) practice, the primary focus is attracting clients. The financial advisor is intent upon acquiring new clients. The processes that are applied in this phase include prospecting and face-to-face selling.

Tags: Administration Functions, Administrative Tasks, Amount Of Time, Complexity, Compliance, Credibility, Degrees Of Separation, External Marketing, Financial Advisors, First Few Years, First Transition, Five Degrees, Growth Phase, Internal Marketing, Marketing Initiatives, Marketing Sales, Paradigm Shifts, People, Service Administration, Specialized, Time Client
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A prospecting tip from Barack Obama

Wednesday, October 14th, 2009

Recently, I came across an article that outlined the critical role of technology in Barack Obama’s remarkable presidential campaign.Among the key contributors to his success was the unprecedented $500 million his campaign raised online. The article discussed some of the innovative tactics that were used – one of which has direct relevance to financial advisors looking to attract new clients.Rather than asking for donations online, the Obama campaign’s online advertising had the single minded objective of getting people to sign up for their email list, agreeing to receive more information. The reason for this was quite simple – obtaining an email address and the owner’s agreement to receive future communication about the campaign was considered vastly more valuable than a single donation.

Tags: Barack Obama, Brian Costello, Credibility, Critical Role, Email List, Financial Advisors, Garth Turner, Gordon Pape, Initial Conversation, Intermediate Step, Junkies, Mid 90s, Period Of Time, Political Campaign, Presidential Campaign, Prospective Clients, Prospects, Raising Money, Relevance, Saturation
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Guidelines for an effective mid-year letter

Monday, June 22nd, 2009

Last week, U.S. discount broker Charles Schwab released a research report indicating that one in four American investors is considering changing firms or advisors, consistent with recent data on Canadian investors  open to making a move.

An interesting insight emerged when investors were asked why they might switch. The top two factors, each mentioned 32% of the time, were desire for a better fee structure and better advice. Just behind in 29% of cases where investors are contemplating a move was the desire for more proactive contact.

Tags: American Investors, Balanced Perspective, Canadian Investors, Candour, Charles Schwab, Communication, Concrete Guidance, Credibility, Desire, Discount Broker, Fee Structure, Five Keys, Frequency Contact, Insight, Investor, Platitudes, Puff Piece, Scepticism, Spike, Substantive Advice
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