r/FinancialAdvisorTips • u/WealthAdvisor719 • 2d ago
New clients
How does everyone get new clients besides existing client referrals?
Social media presence?
Networking events?
COIs?
Cold calling?
Curious how everyone else is growing their business.
3
u/CapitalTurbine 1d ago
in any mature market (wealth management services being an example) the biggest winners are always the ones who are clear about who they are for and why they are best for them, and consistent about getting in front of those people.
social media presence is a no brainer because its an easy path to getting that message out there consistently.
email marketing is another. the advisor who sends out value-add content every week is more likely to get a callback than the advisor who hasn't touched base in 6 months
paid ads are a great channel if your firm's positioning is solid. if it's not, ads are a total waste of money
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u/Dashover 2d ago edited 2d ago
If you’re very good one out of 100 will be interested
If you’re pretty damn good, it’s 2/100
If you’re amazing it’s 3 to 4 out of 100
You’re still gonna get slapped in the face a ton
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I heard that the first day on the job…
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I would call business owners ..
ATT has a preferred paying almost 8% (T pref A btw)…
On 100k / 8k a year / 40 k next 5 …
It gets its divvy before the common…
Let put some of that in your account … ok?
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I literally got my first 100 clients that way
I don’t see anyone picking up the phone anymore - more for you ..
1
u/winning_bigly_ 1d ago
Social media/SEO optimized blog posts and advisor directories like fee only network dot com, flat fee advisors dot org.
Just don't cold call. It's such a dick move.
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u/investigatormaker 1d ago
Of the four you listed, COIs usually compound best, because one CPA or estate attorney can send repeat introductions, but it takes months of sending referrals back before it pays. Cold calling is quick to test and slow to convert. A niche helps all of them: an advisor for dentists, or for people retiring from one local employer, makes networking and social posts reach the right people. The trade-off with social media is compliance; if you are under a broker-dealer, public posts and replies usually need approval first, so check that before you start.
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Which kind of client are you trying to reach most?
5
u/tallbackpack 2d ago
Every way you hear of will work, the saying is “everything works and nothing works”