Whether you are self-employed or you have a financial advisory firm, you need clients to keep things going. But how you go about building a client list can be difficult, especially if you are just starting out or your firm is small. Like all other areas, marketing your firm also requires a multi-faceted approach to bring in as many prospects as you can.
Dealing with financial advisory firms has given us unique experience, and so we have developed a list of habits that we know are tried and true. You can adopt these habits into your day-to-day schedule. From harnessing social media the right way to using the right investment suitability questionnaires, everything is here in this blog.
4 Habits Every Financial Advisor Must Adopt
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Utilise Social Media
It is pretty much a given that in this day and age, whatever business you have and whatever service you are providing, you have to be using social media to promote it. Facebook, Instagram and LinkedIn are essential.
But it isn’t just about putting up a post on your Facebook or Instagram page. It is also about promoting yourself the right way using these platforms.
Using targeted advertisement campaigns, using the right channels such as formal financial advisory groups, making connections on LinkedIn with the right people, the more you engage your target audience, the more likely you are to have viable leads and prospects pop up
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Develop Business Skills
You can be amazing at what you do but when you are running a business, there are some basic skills that are essential that you learn about. From time management to negotiating with prospects to just general business administration skills.
This helps improve your communication skills and helps you deal with clients and their demands much better. And it also helps you get an idea of how to scale your business as you grow further. It will also help you get a better idea of your client’s businesses and how you can help them in the best way.
Running a business requires keen business acumen.
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Keep Detailed Records
This point might sound not as relevant to the topic at hand. But you will be surprised at what you can do when you have all the right records available at the right time. Meticulous attention to detail can help you see and eliminate even the tiniest of errors or discrepancies which can save your client a lot of money.
It also gives you an organised insight into your client and their financial behaviour. The right investment profile questionnaire can make all the difference and really tell you what kind of financial decisions your client should be taking. And keeping those records on hand can keep you always informed.
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Analyse Your Competition
It’s important to know your clients. But it’s even more important to know who your clients might potentially go to if not you. And then, it is a matter of analysing them and their edge over what your service. If there is an edge, take a look at how you can level the playing field or even gain the edge over them!
Here are a few tips on getting a good measure of your client.
- Take a look at their services
- Take a look at their social media
- Take a look at their website
- Take a look at their LinkedIn network
All this should give you a basic idea of how your service compares to theirs.
To Conclude
Still, with all this in mind, it is important to remember that growing your client list isn’t an overnight thing. But, if you adopt these habits, then you should surely see an increase as time goes by.
And if you are interested in keeping detailed records, then you know it begins with getting detailed records. One of the ways you can do that is by having a comprehensive investment risk tolerance questionnaire. Pocket Risk can help you there. Contact us today to know more.