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How Financial Advisors Can Build Their Client Base and Keep Them Engaged | Financial Advisors

How Financial Advisors Can Build Their Client Base and Keep Them Engaged | Financial Advisors

In financial services, it’s all about the clients. What your clients need, what they want, where they are, where they’re going and who they can refer along the way. There is no business without clients, and all financial advisors must be experts in the art of finding new clients and engaging existing ones.

“Prospecting is really the lifeblood of an advisory firm,” says John Anderson, managing director of practice management solutions at SEI in Oaks, Pennsylvania. “If you’re not growing, you’re dying, especially if the advisor has an aging book.”

As clients grow older, they shift from accumulation to distribution. “And as an advisor’s (assets under management) decrease, so will their income,” Anderson says.

So how is a financial advisor to keep a book young? By continually bringing new clients into an advisory practice and engaging the ones you already have.

How to Get New Clients as a Financial Advisor

For financial advisors, cold calling and direct marketing are the way of the past. Cold calls are hit-or-miss, and direct marketing is often chucked with the junk mail. There are far better sales strategies. Here are the top financial advisor prospecting ideas successful advisors recommend:

  • Narrow your focus.
  • Define your ideal client.
  • Develop content marketing campaigns.
  • Get social.

“It’s counter-intuitive, but advisors will attract more of the right prospects if they narrow their focus,” says Kevin Darlington, general manager of Broadridge Advisor Solutions in New York. “The advisor who takes the time to narrow the dimensions of their target audience will maximize their investment in time and money and ultimately reel in more of the right clients.”

Instead of targeting anyone with at least $1 million in investable assets, for instance, he suggests narrowing your criteria to prospects with, say, $1 million to $2 million in investable assets, who are

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SC Investment Firm Earns Place in Top 300 Registered Investment Advisors by Financial Times

SC Investment Firm Earns Place in Top 300 Registered Investment Advisors by Financial Times

BEAUFORT, S.C., Oct. 9, 2020 /PRNewswire/ — Verity Investment Partners (VIP), a boutique investment advisory firm serving individual investors and their families, has been named as one of the nation’s Top 300 Registered Investment Advisors (RIA) by the Financial Times.

Verity Investment Partners (VIP) is a Top 300 Registered Investment Advisory Firm serving high net worth individuals and their families nationwide. Their hollistic strategy grows income for life. Through dividend growth investments, VIP creates a stream of investment income that grows each year while keeping savings intact to grow over the longer term. VIP works with clients to help expand what is possible and achieve financial freedom.
Verity Investment Partners (VIP) is a Top 300 Registered Investment Advisory Firm serving high net worth individuals and their families nationwide. Their hollistic strategy grows income for life. Through dividend growth investments, VIP creates a stream of investment income that grows each year while keeping savings intact to grow over the longer term. VIP works with clients to help expand what is possible and achieve financial freedom.

Verity Investment Partners earns distinction of Top 300 Registered Investment Advisory Firms by Financial Times.

This is the seventh annual FT 300 list. Approximately 750 RIA firms applied for consideration having met a minimum set of criteria. Applicants were then graded on six factors: assets under management (AUM); AUM growth rate; years in existence; advanced industry credentials of the firm’s advisers; online accessibility; and compliance records. Based on these factors and Verity’s metrics, Verity earned this coveted distinction.

Founded 18 years ago in Beaufort, SC by Paula and Will Verity, the employee-owned firm has since grown to over a half-billion dollars in assets under management and added offices in Edwards, CO and San Antonio, TX. Fueling the growth of VIP is their unique dividend growth investment solution that is designed to deliver targeted levels of annual income and income growth, while keeping principal invested to grow long-term. This approach enables clients to increase their financial freedom by replacing earned income with a growing stream of investment income..

“Receiving the FT300 designation from the Financial Times is an honor and a result of staying true to our vision as a company,” said

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‘CliffsNotes’ For Elite Financial Advisors

‘CliffsNotes’ For Elite Financial Advisors

A confession: Without CliffsNotes, I may not have made it through high school…or college. In fact, until just recently, I actually thought it was “CliffNotes” (no “s”) – but I digress.

If you’re like me, these very valuable summaries are extremely helpful and efficient. With that in mind, I wanted to share three takeaways from a financial services virtual event last week, all of which struck me as highly relevant for elite financial advisors.

Blueprint is focused on helping elite financial advisors grow and sustain their businesses. As such, we conjoin investment management and practice management services because we know that it takes both to operate a high-performing advisory practice.

It was fitting, then, that The Summit for Asset Management (TSAM) recognized our ability to contribute to discussions on both topics when inviting us to speak during its TSAM Digital East Coast event last week.

I covered the investment management perspective for Blueprint in a session on navigating the challenges of a low yield environment, while Director of Marketing Nicole Hands spoke to practice management through the lens of marketing/sales.

What follows are three points I thought were particularly timely reminders from each of our sessions.

#1 – In the Search for Yield, Know What You’re Buying

It’s been an unprecedented year globally due to the economic shutdowns, rate slashing, stimulus packages, and historically rapid recoveries spurred by reopenings.

In my session on the challenges of a low yield environment, we spoke about the importance of knowing what you’re buying. Many investors are forced into looking for “the cleanest, dirty shirt.”

Put another way: Sure, that shirt may be dirty with a slight foul odor, but relative to the other shirts in the closet, a second look (and smell) reveals that it may just be your best option. 

The moderator

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