Mary Rowland discusses several tactics for bringing in new clients in her book, “Best Practices for Financial Advisors.” A good marketing campaign requires advisors to increase their visibility and build credibility, she says. Here are some of the best suggestions:
- Don’t take every client who comes in. Be selective about which clients you work with instead of spending a lot of time on clients who aren’t contributing to your profitability.
- Focus on existing clients. Good clients bring other good clients, Rowland says. Think about what impression your business gives from the moment clients walk in the door.Build a referral network. Keep track of who refers clients to your business. Build a network with a small group of professionals in different industries related to your business.
- Consider seminars. Seminars can help demonstrate your competence to other professionals in the industry, and help build your network.
- Don’t ignore the press. Build a reputation by talking to reporters or writing stories for local or trade publications.
Source: “Best Practices for Financial Advisors,” Mary Rowland