Prospecting Archives - Don Connelly & Associates

In the Prospecting blog category you will find blog posts about prospecting. Don’s tips would include but may not limited to prospecting for new clients, leaning on your clients, researching for clients, how to ask for referrals, and more.

A Step-by-Step Guide to Lead Generation for Financial Advisors

/ by Don Connelly / Prospecting / 0 comments

Of all the functions financial advisors must perform, generating leads consistently is one of the most critical and challenging. While expertise and service delivery are paramount, business growth stalls, and revenue becomes unpredictable without a steady stream of potential clients. Lead generation for Financial Advisors isn’t just about finding clients; it’s about implementing a structured, repeatable process that brings in the right prospects over time.

This guide will walk you through a step-by-step lead generation approach that blends traditional and digital strategies. Whether you are new to the industry or looking to refine your process, these steps will help you build a sustainable client acquisition system.

Best Practices for Using Digital Tools to Improve Lead Generation

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It took a while, but the financial advisory industry has finally caught up with the technology transformation that has been underway for more than a decade. That means digital lead generation is no longer optional; it is now indispensable to successful advisory practices.

While the core of financial advising remains rooted in personal relationships, digital tools offer unparalleled opportunities to expand reach, streamline processes, and enhance client engagement. They are no longer a luxury but essential to a robust lead generation strategy.

This post will delve into actionable best practices for financial advisors to leverage digital tools effectively, ensuring you can confidently navigate this digital landscape and achieve tangible results.

The Evolution of Lead Generation: How Digitalization is Changing the Game for Financial Advisors

/ by Don Connelly / Prospecting / 0 comments

Financial advisors understand that a steady stream of qualified leads is the lifeblood of a thriving practice and a cornerstone of success in the financial advisory profession. Traditionally, lead generation has consisted of relation-based strategies, such as referrals, networking, and personal connections. However, as the financial services industry finally enters the digital age, the lead generation landscape has evolved significantly.

Digital tools and online platforms have introduced new ways to attract, engage, and convert potential clients, offering advisors greater efficiency and scalability in their client acquisition efforts. Understanding and embracing this shift is crucial for financial advisors looking to remain competitive in an increasingly digital world.

Ten Strategies for Encouraging Your Clients to Spread the Word About Your Business

/ by Don Connelly / Prospecting / 0 comments

We’ve often posted about the importance of creating an extraordinary client experience to make yourself more “buzzworthy” as an advisor your clients will want to discuss. You can’t even think about creating a compelling word-of-mouth buzz until you create the kind of service that feels personal, unique, and genuinely caring to your clients. That should be your primary focus.

However, beyond creating an extraordinary client experience, it’s essential to turn your clients into vocal advocates, like human billboards spreading the word about your business. While it does happen—having a delighted client go on and on about your service to a friend or colleague—most people are not naturally inclined to initiate a conversation like that without some help and encouragement.

Here are ten effective ideas to inspire your clients to spread the word and advocate for your business proactively.

Make It Your Focus to Be Referable

/ by Don Connelly / Prospecting / 0 comments

I don’t think any one method of prospecting works particularly well, but they all work. The idea is to pick one and stick with it. Whichever method you choose, give it a chance. Don’t bounce around. Get so good at the method you choose that getting referrals become as natural as brushing your teeth in the morning. Position yourself to be referable.

Watch this video or read the transcript below, adapted from the video, to learn how to make yourself referable.

The Elevator Repair Story

/ by Don Connelly / Managing the Relationship, Prospecting / 0 comments

I met an Advisor at Merrill Lynch in Detroit who told me a very interesting story.

Listen to the audio episode or read the transcript below, adapted from the video, to learn an important lesson about client service.

Unearthing the Buried Treasure: How Financial Advisors Can Uncover Hidden Objections

/ by Don Connelly / Prospecting / 0 comments

Financial advisors play a crucial role in securing a client’s financial future, but beneath the surface of numbers and charts lie unspoken anxieties and reservations—hidden objections that can derail even the most meticulously crafted plan. Unlike their vocal counterparts, these objections can linger beneath the surface, hindering progress and leading to missed opportunities.

However, by employing specific techniques and fostering a trusting environment, advisors can unearth these hidden objections and build stronger, more successful client relationships.

The Non-Salesy Way to Finding and Attracting Your Ideal Clients

/ by Don Connelly / Prospecting / 0 comments

Financial advisors’ success hinges on building trust and long-term relationships. To do that effectively, they need to target the right audience—individuals who value their expertise and require the specific services they offer.

Successful advisors know how to identify a niche that represents their ideal client. More importantly, they know how to reach out in a way that leads to a connection without resorting to pushy sales tactics. The key is to create a sustainable and repeatable process that positions you as an expert in a particular niche to the extent that they are drawn to your message.

Here are the steps to follow:

Prospect Red Flags Financial Advisors Shouldn’t Ignore

/ by Don Connelly / Managing the Relationship, Prospecting / 0 comments

Almost every financial advisor starts in the same place—with a lot of time on their hands and not many clients. That’s when the criteria for selecting which prospects to work with is at its broadest—essentially, anyone willing to pay me anything.

It’s not until your business expands, reaching the point when you’re servicing 50 or more randomly chosen clients, that your time starts to become much more valuable. Eventually, you reach your capacity for new clients, and your revenue stops growing. Worse, you’re not enjoying your work as much as you hoped.

That’s when you realize it shouldn’t be about the number of new clients you take on; it should be about the quality. It’s about saying ‘no’ to prospects who don’t meet your criteria for the type of client you want to work with, which isn’t easy if you’re still chasing growth. But ultimately, saying no to prospects who are not a solid fit is good for you and them.

Here are some major prospect red flags warning you to move on.

How to Get Your First Client as a Financial Advisor

/ by Don Connelly / Prospecting / 0 comments

All financial advisors start in the same place—with no clients. Getting that first client (who’s not a relative) is a significant hurdle but not insurmountable. And, as many successful advisors will tell you, once you clear that first hurdle, it’s off to the races.

While getting your first client can be a challenge, you can succeed with the right skills, a solid game plan, and a hefty dose of persistence.

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