Like many advisors look to build an independent practice, Jim Dew saw seminars as a great way to attract clients. As he discovered the hard way, it’s a method that can deliver results, but, it’s not easy.
“It’s like a buddy of mine who was in the Marine Corps told me, ‘I’m glad I did it, but I’d never want to do it again,’” Dew says wistfully. “I’d offer what a lot of guys do–people could meet with me for an hour after they came and heard me speak.”
He says he knew that if he did a seminar that a few of those people in the audience would likely become good clients. What he didn’t realize when he started was how many hours he would have to spend with people who really weren’t a good fit for him, or vice versa. He also was unaware of the toll it was taking both on him personally and on his staff.