Post: #1

Afternoon gents,

This is my go to forum where I know I can get true, honest to the core answers on almost any topic-- including business.

I posted briefly in the self-employed/entrepreneurs thread but I didn't receive any replies, so I'll paraphrase here with a wider net:

My question pertains to how prospective clients would like to be approached in regards to financial services. These services range from tax accounting/retirement planning/mutual funds/stocks/bonds/life insurance/estate planning).

I have all the pertinent licenses and state registrations (federal for tax) and have some higher designations as well. My resume for my age is pretty impressive (this came from multiple third parties, not myself in the mirror) so my qualifications are there; however, I'm trying to expand my client base.

I've worked for a few accounting/financial firms in the past-- but now I've branched out and doing my own thing (lower fees for clients, more autonomy for myself).

As of now, I have a good number of very happy clients who refer friends and family to me. This is great but it's a very passive strategy. I'd like to ramp up my active marketing via instagram, doing guest posts on blogs, starting a financial meet up group, etc.

My question to you all is--- let's say we met at a networking group or just out on the town having fun: How (if at all) would I be able to get your business? Or at least a meeting set up to see if my company could help you in any way.

The last thing I want to do is to come off as a used car salesman or some seedy know it all.

I appreciate any suggestions. Thanks.

**Disclosure** (to the mods) this is not a business soliciation, it's strictly hypothetical and asking help from the forum member. It's a question pertaining to marketing my business.

Post: #2

I've been in the financial industry before as a consultant.

Here's the difference between those who are going to make it, and those who don't:

1. Ask people if they have had a financial checkup recently. Liken it to the importance of seeing your doctor for preventative healthcare, only for your money.
2. I used to introduce myself a doctor. People would ask me what kind of medicine I practice. I would then say "I'm a money doctor". I care for the health of your wealth.
3. Listen, listen, listen! Shut the hell up. Seriously. The very best advisers making $500k+ a year are all fantastic listeners. They gather information and only open their mouths after careful consideration, AND WITH A SOLID GAME PLAN. Don't be afraid to say it will take time to pour of a client's file, then schedule a follow-up. This isn't a drive-thru business.
4. Ask for referrals from existing clients. Do a damn good job with your first round, and tell your existing clients that you want to help their friends. Get a handout sheet for them to put the names and phone numbers of people they can introduce you to. Start off by hosting a golf outing or volunteer event. Get your face out there in the community as "that guy that my friends trust", not that "insurance salesman".
5. When in doubt, it will be a grind. If you make it, you make it. Take care of yourself mentally and physically. ABL: Always be learning. Study up on all aspects of consumer finance. Know about gold, silver, consumer credit, trusts, etc. Be the "whole package" man, not a product pusher.

Post: #3

+1 --- Great tips. Thanks for taking the time.

Post: #4

You're welcome. Also, one final tip, make sure to make a rock solid elevator speech.

My elevator speech was a combination of the "money doctor" listed above, plus also telling stories about how my dad grew up in poverty, and struggled through his childhood. Have a personal tale of motivation as to what drives you to be successful so other people and their families can benefit. Tell them you don't want anyone to go into poverty when you could help prevent it. Paint pretty pictures of financial abundance with your proper guidance. Ultimately, you need to solicit the stories of the individual, the wife/husband, the children, aunts, uncles, friends and non-profits they care about. Get to the essence of who they are as a person. What drives that core? Once you do, it is like game, but instead of trying to "click" with a woman, you are trying to build a genuine connection based upon trust and competence that will last a lifetime if you do your job well.

There's nothing more boring than a guy who pushes financial planning/products. Remember, it is the personal connection and narrative that wins the day.

Post: #5

I did cold-calling for four years during university for a wealth management firm and brought in a solid number of clients. The first few weeks were torture, as I learned how to sell, and get over cold-call anxiety, but once you do the opportunities are endless. I did door-to-door for a bit, however, most of my knowledge is on the phone, so I believe I can give some good advice for you!


1. Online brokers are becoming a thing now (wealthsimple, for example) so it's becoming more difficult to draw in younger generations to traditional brick and mortar advisers. That being said, the older generations still like the human element, and like building relationships with their advisors. When you speak to them, stress the fact that you're a human, not a salesperson.
2. Ask PROACTIVE questions. "When is the last time you spoke to your adviser", as JMK said above, "when's the last time you've had someone take an objective look at your finances" is a good one. The point here is to get them thinking "hmm, I actually haven't seen my broker in a few months"
3. Familiarity. A tactic I used to use, was "We dealt with some people in your area who found product xyz to be incredibly beneficial because of (insert reasons). While saying benefits is important, you need to stress what they'll miss out on. I used to offer financial services that would save someone with an average portfolio of 500k, 10k a year. I'd stress what they could do with that extra 10k, for example.
4. Most people with money aren't idiots. They know what they know, and know what they don't. Smooth talking will only get you so far. Be frank, but don't be negative.
5. Objections. You'll get objections, just handle them. Use words like "We" and "you" instead of "I".
6. Listen. I won't elaborate, as JMK spoke about it.
7. Numbers. Ignore what anybody else says - it's a numbers game. I'm not sure if you're doing door-to-door, or phone sales, but on the phone you should have no problem getting a couple hundred calls per day. Don't hang up the phone.
8. Best time to call. I went in early - 7-9am is the best, as well as 2-3pm, and 5-7pm. Don't call during lunch hour.

In summation: Don't be a salesman. Believe in your product, know that what you have to offer benefits the prospective client, and create trust. Lots of people you'll deal with will already have advisers, so you'll need to prove that you're not only better, but that you are a trustworthy person. Build lists, call endlessly, and be a good listener with a decent pitch - you'll build your book in no time.

Edit: Any other questions, just shoot me a message.

Post: #6

There is an obscure series of books not credited to one author which are hands down the best business books I have ever read. They are truly amazing when applied to your business life.

Get yourself copies of Million Dollar Prospecting Techniques, Million Dollar Selling Techniques, and Million Dollar Closing Techniques by The Million Dollar Round Table Center for Productivity. These are systematic and will be a go to reference for you.

You might also read Winning Through Intimidation by Robert Ringer. Totally different kind of book but full of great stories.

Post: #7

Dan Kennedy's book No Bs guide to marketing the affluent is amazing, as well.

Post: #8

1. Put together a report/white paper on a subject pertaining to your financial service

2. Throw said report up on a simple squeeze page (which people will have to opt-in to download)

3. Send paid targeted traffic to squeeze page

4. Follow-up with subscribers. "Hope you enjoyed xyz report. By the by, I'm offering a free consult. Would you be interested?"

You're welcome.

Post: #9

Consultants can do very well with a solid blog that poses them as an authority, where they offer real value and discuss their unique perspectives and ideas (even if they're not exactly ground-breaking to those in the know - just should be to the market), and an attached services page or traditional sales page that pitches their services.

Guest blogging on the right sites would also be great.

The best part about this strategy is you don't have to sell that hard. Your ideas do the selling for you, and people get in touch because you've already won them over. From there it doesn't take that much to get a solid close, assuming you have some decent business sense and basic people skills.

Beyond All Seas

"The individual has always had to struggle to keep from being overwhelmed by the tribe.
To be your own man is a hard business. If you try it, you'll be lonely often, and sometimes
frightened. But no price is too high to pay for the privilege of owning yourself." - Kipling