The ClientWise Blog

9 Creative Ways for Financial Advisors to Acquire Clients

Posted by Alix Purcell on Sep 20, 2014 10:00:00 AM


If the thought of your client acquisition tactics have become tiring or boring, they’re probably also not working very effectively either. The tips below will liven up the process, get you thinking differently about your approach, and likely land you a few clients!


Get slightly on the periphery: Sometimes going the obvious route isn’t always the best. If you have a niche in any area that you feel is underserved, go after that. For example, if you understand or work well with a particular trade industry—like woodworkers or electricians, even marketing specialists—try joining trade associations specific to these industries. 

 

Make something you love a source for professional networking: Everyone does golfing events. If you’re really into another activity you never find time to do from behind your desk, try something else! Local tours, historical attractions, rock climbing, even running groups, are all great ways to network with potential clients and centers of influence. 

 

Start a community project: This can be anything from cleaning up your a local park or starting a neighborhood watch to creating a youth group based around financial education and awareness. Anything that places you in a leadership position in support of a good cause (bonus if it highlights your expertise) will reframe you in the eyes of the community and instill within them a sense of trust and knowledge regarding you and your work as financial advisors.

 

Participate in community events: The obvious ones are newcomer fairs, job fairs, and expos… but think outside the box a little. Consider attending a road race or another sporting event. Try participating as a sponsor and seeing if you can find a creative way to tie your mission as a business into the theme of the event. Supporting non-profits through athletic events is also a smart way to position yourself in the community.

 

Collaborate with people who partner with those in transition: Think about the professional services that people access when they are going through a life transition. Professionals like therapists, life coaches, career counselors, physicians, divorce mediators, realtors, and even professional organizers. People in these roles talk to your potential clients on a daily basis. 

 

Hold an informational panel networking event: Not only is this a great way to highlight your expertise, it’s an excellent opportunity to do the same for your centers of influence. Consider collaborating with the professionals you work with on a regular basis: CPAs, Lawyers, etc., even professions like those listed above. Host an informational series for all of your best clients with a few light appetizers and refreshments. You might be surprised at the cross-networking and cross-referral opportunities that present themselves.

 

Get in the spotlight: If you’ve ever had dreams of holding a political office or serving on a community board, strike now. Incorporating this kind of goal into the fabric of your business can be a big networking boost, and it can also shape the services you provide to your clients.

 

Donate your time, support a cause: Increasing the time committed to volunteer efforts is a checkbox on everyone’s list, but what if this could benefit you both personally and professionally? Getting involved in a local, even national cause by volunteering your time can be a great way to meet clients and potential centers of influence, and in many cases allow you to exercise your industry chops in new and creative ways. 

 

Daydream a little: If you’ve ever had a dream job, go on a quest to figure out what actually having that would be like… and figure out what being a financial advisor to a person in that role would be like. Maybe you didn’t grow up to be an astronaut, a pilot, or a fireman, but can you live vicariously while partnering with them to improve their finances?

 

As a final note, use your “creativity” with care in these situations. In other words, don’t show up at every local realtor’s open house to close in on potential buyers. Your target audience will see right through you, and so will potential centers of influence. Make sure you have a valid interest in that which you are participating; not only because it’s honest, but because your enthusiasm and natural charisma in doing what you do will come through. This will reflect well to potential clients, and provide an enjoyable experience even if they don’t end up working with you.

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Topics: Client Acquisition, Marketing Approach, Innovation