/ by Don Connelly / Managing the Relationship, Prospecting / 0 comments
New clients are the lifeblood of a financial advisory practice, without which it could go into cardiac arrest. For newer financial advisors, acquiring new clients can’t happen fast enough. However, if obtaining clients was easy, anyone could be a successful financial advisor. Starting out, it’s an uphill battle that only the most determined can eventually win.
It also helps to have a systematic process for capturing leads, nurturing them through the sales funnel, and converting them into prospects, out of which a certain percentage become clients. That’s all laid out on a timeline that can vary significantly depending on the type of lead, where it came from, and how effective your process is for cultivating the lead. It could take anywhere from one month to a year for a lead to complete the journey through the funnel to becoming a new client.
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Mapping Out the Client Acquisition Timeline—How Long It Takes to Get a New Client
/ by Don Connelly / Managing the Relationship, Prospecting / 0 comments
New clients are the lifeblood of a financial advisory practice, without which it could go into cardiac arrest. For newer financial advisors, acquiring new clients can’t happen fast enough. However, if obtaining clients was easy, anyone could be a successful financial advisor. Starting out, it’s an uphill battle that only the most determined can eventually win.
It also helps to have a systematic process for capturing leads, nurturing them through the sales funnel, and converting them into prospects, out of which a certain percentage become clients. That’s all laid out on a timeline that can vary significantly depending on the type of lead, where it came from, and how effective your process is for cultivating the lead. It could take anywhere from one month to a year for a lead to complete the journey through the funnel to becoming a new client.
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What’s The Greatest Cause of Burnout among Financial Advisors
/ by Don Connelly / Best Practices / 0 comments
Here’s a question I received from Ricardo in Portugal. He’s writing about burnout with an interesting question.
What’s the greatest cause of burnout among advisors in the United States?
I think that actually is very easy to answer. Whether it’s Los Angeles or Lisbon, it doesn’t really matter.
Listen to the audio or read the transcript below to learn what Don thinks the greatest cause of burnout among Financial Advisors is.
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