Business Development

The right activities lead to the right results. If motivated advisors want to grow their practices, they must engage in those activities that will lead to business growth. In this session, we will incorporate the best business development practices, featured in Dave Mullen books, The Million-Dollar Financial Services Practice and The Million-Dollar Financial Advisor. There are eight practices that the most-successful advisors use for client and asset acquisition, and these practices will be shared during this session.

This two to three-¬hour training session for experienced advisors is designed to provide the specific tactics and processes that focus on the how-to, rather than the theory of affluent client acquisition. A handout package will be provided, which contains all the scripts and tools required to implement the provided acquisition strategies.

Also included in this session will be an implementation workshop, facilitated by an Altius Learning trainer, and designed to develop a specific action plan that will help with the implementation of the training into the advisor’s practice.

Mindset. Having the right acquisition mindset drives the eight affluent client and assets acquisition practices. Financial advisors know what they have to do to grow their practice. But, having the right mental approach, as well as the specific tactics, is a powerful combination that, when combined, will result in new, affluent clients.

Client referrals. Having a proactive client-referral process is a core, affluent-acquisition process that all financial advisors should incorporate into their practices. There are four factors that contribute to a successful referral process, and they are outlined in this session.

Event marketing. One of the most effective ways to acquire new, affluent clients is to “help clients help you.” Loyal clients are willing to help their advisors grow their practices, but advisors need to create opportunities for clients to provide introductions. Details are provided on specifics of providing fun and educational events around the interests of affluent clients to facilitate introductions and relationship building with their affluent guests.

Niche marketing. The most-successful advisors develop an expertise and specialization in working with a specific occupation or type of investor. Niche marketing has a higher marketing success rate and reduces competition. A four-step process is outlined to develop and leverage a successful niche-marketing plan.

Non-profit leadership. Many of the wealthiest individuals in a community are involved in non-¬profit leadership. Being involved in selected high-profile, non-profit organizations give access to affluent individuals and contribute back to the community. A five-step process is provided that will guide the advisor on how to develop new, affluent clients through leadership in non-profit organizations.

Right place, right people. The most-successful advisors put themselves in position to meet affluent individuals through involvement in their communities. This session is designed to provide the advisor with a transition strategy for turning affluent personal relationships into affluent clients.

Client away assets. The easiest assets to acquire are those that current clients hold elsewhere. A four-step process is reviewed, which will help the motivated advisors bring in at least $6 million of new assets each year from clients assets held away.

Pipeline management. The leading indicator of the growth of an advisor’s practice is the quantity and quality of his or her prospect pipeline. Developing a prospect pipeline of 50 quality prospects and effectively following up with those prospects will generate 10 new affluent clients annually. This session provides the specifics of how to effectively manage a prospect pipeline.

Social Media marketing. Understanding how to effectively use social media as a research tool and connection engine has significant business development implications for financial advisors. Marketing through social media facilitates and organizes the six-degree of separation concept turning cold calls into warm calls.