Though prospecting is a part of any successful advisor’s job, it does not have to feel like a job. If you can bring fun, excitement and value to prospects, you’ve already proven to them a relationship with you will not be a painful experience.
Each year, I host an event to celebrate my clients and thank them for their business. Typically, about 150 guests attend, and interestingly, each client brings an average of one to three friends with them. One invitation can bring in three or more potential new clients. Since there is a high volume of attendees unfamiliar with my services, I use this opportunity to not only show them the lighter side of my practice, but to educate them on the benefits of financial planning.
In between self-defense lessons, make-over tips and live music, I give a very short presentation that grazes the surface of the importance of sound financial planning. I outline the basic pieces of planning, alert them to things of which they should be aware, and encourage attendees to seek out help if those important issues have not been addressed. The mood stays light and upbeat throughout my presentation, and hopefully I’ve piqued the interest of the prospects in attendance.
This event brings additional value to my clients, as well. I often offer “shopping” opportunities with different clients who sell various services and products. Previous years featured a fashion show and dinner, and as each year’s attendance grows, so do the opportunities for fun. Though our event is female-focused, more and more men join us every year, further diversifying a new client base.
If throwing an event yourself seems too daunting, charity work is often a great place to not only meet new people, but give back to your community. But remember, without a true interest in the charity work, your personality will not shine through and it will be difficult to build trust.
The bottom line? If you think prospecting is fun, you make the process fun for the potential client. This takes referrals to a new level, because they are first introduced to the exciting benefits of a professional relationship. The ability for clients to share these perks with non-client friends allows the party prospecting cycle to continue.