Three Major Challenges Financial Advisors Face when Acquiring Clients

Three Major Challenges Financial Advisors Face when Acquiring Clients

Pinpointing the main challenges Financial Advisors face in their daily work is a challenge in itself, considering there are so many. But here are three of the most often cited pain points – with a few tips on how to address them.

#1. Getting referrals

If like a lot of other advisors, you often find it difficult to ask for referrals it’s because asking for referrals is essentially like asking for help to grow your business. And having to ask for someone’s help feels like admitting that your business is deficient in some way. Asking for referrals also means facing up to your fear of rejection.

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How to Be a Better Prospector

How to Become a Better Prospector

To succeed in this competitive industry, you need to be creative when it comes to acquiring new clients. No one universal approach is likely to be your Holy Grail when it comes to prospecting. Instead, you will need to adopt a number of prospecting approaches and learn, through trial and error, which work best for you. Once you’ve found a method you’re good at, you’re likely to enjoy finding clients that way, boosting your job satisfaction as well as your ability to attract new clients. Here are a few prospecting approaches to try.

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Have You Worked Out Who Your Ideal Clients Are?

Who Is Your Ideal Client

The decision to open the new account is yours as much as it is the client’s. Define your ideal client. Be selective and choose your clients with care. Elite Advisors have the ability to identify and target a demographic that works best for them. They differentiate themselves from the competition by making their skills stand out as a perfect match for prospective clients. The best way to do this is to focus, laser-like, on specific ideal client types.

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Why Financial Advisors Should Do Seminars

Don Connelly tips on his blog

One of my Don Connelly 24/7 subscribers asked me how I liked seminars for a prospecting idea. The answer is ‘I love seminars’. Here are a couple of reasons why.

Listen to this audio episode to hear Don’s full answer, or read the transcript below.

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