Partners in Prospecting

The Times They Are A Changin’

November 24, 2022

I’m convinced the majority of us will be relieved to see the backend of 2022, because it has been a trying time for investors AND ALSO for Investment Advisors. Most Advisors have been telling me that now is a good time for them to begin reaching out to current clients and searching for new clients to expand their books in 2023.

Here’s what successful Advisors have shared with me:

Do you have your comments ready for your existing clients?

In this type of unpredictable environment, clients do not expect you to have ALL the answers and they know you don’t have a crystal ball. However, they do want to know what you are thinking about regarding the big picture and how they can work best with you. Communication is key and having a few soundbites prepared (not more than 3) will help. Keep it simple when discussing the markets or world views so that they will easily understand and connect with you. For example: “I think that interest rates will…and as a result I am changing/adding/redeeming the following in your portfolio…” You may also want to make a quick, informed comment about world events and/or inflation.

Have you checked your client list and considered how you met and obtained your clients in the first place?

Was it through a referral via word of mouth, visits to your website, quarterly newsletters, client events, blog posts, cold calling or some other action? One of the problems related to prospecting is the lack of clarity around it. If you do not measure your results, you will have little to no idea which of your (ideally multiple) prospecting methods are generating the best results. Once you have the clarity, then you can focus on what is bringing those clients in and improve or increase that particular effort.

Work with your Marketing and Compliance teams to ensure you have a website presence.

Advisors have told me that in tracking their “hits” to their websites, the most popular page is their “About Your Team” section. Potential clients like to see and read all about personal and professional profiles of the Advisor and their teams. Hire a professional photographer to take a picture of you and your team members in your office. In addition, this is the perfect place to highlight your credentials including designations (ensure you explain them) as well as your unique skills and experience. For more information, see How Financial Advisor Designations Can Affect Customer Experience.

Good luck with your planning for 2023!

As usual, there is a song title in this Blog Post. Do you recognize it?

About Jennifer Kuta

For more than 25 years, I have worked with Advisors helping them build their businesses. My commitment to you is to partner with you in your practice and offer solutions to help build your business.

Investment involves risk, uncertainty and assumptions. The value of investments rise and fall and there is a risk you may not recoup the amount originally invested. Past performance is not a reliable indicator of future performance.

The contents of this blog are the personal views of the author and not necessarily the views of Caldwell Investment Management Ltd. The views expressed, while based on current market conditions and information, they are subject to change without notice and as such, there can be no assurance that actual results will not differ materially from such expectations. The comments are an illustration of broader themes and intended to be for general information purposes only.

Forward-looking statements are not guarantees of future results as they involve uncertainties and assumptions; there can be no assurance that actual results will not differ materially from expectations.

The contents are provided as general in nature and should not be relied upon nor construed to be the rendering of specific tax, legal, accounting or professional investment advice. Readers should consult with their own accountants, lawyers and/or financial advisors for advice on their specific circumstances before taking any action.

The information contained herein is from sources believed to be reliable, but accuracy cannot be guaranteed. No representations or warranty, expressed or implied is made by Caldwell Investment Management Ltd. or its affiliates.

Website | + posts

Vice President, Business Development and Sales

Want to hear something good?Sign up for updates