While referrals are the most convenient way to acquire clients, but depending only on referrals can limit your growth. Advisors should be open to finding ways to acquire new clients through different channels to accelerate growth in business.
We spoke to few advisors to understand how they acquire new clients apart from referrals. Here’s what they have to say.
Gajendra Kothari of Etica Wealth Management has acquired most of his clients through investor awareness programs (IAPs). He said, “70% of my clients have come on-board through IAPs. It is an ideal way to connect with prospective clients at a personal level.”
Sharing his approach towards IAPs, Kothari said, “We normally approach corporates and associations through our existing networks.” Kothari prefers reaching out to them through emails, as he believes that it is a professional way to approach large corporates. He attaches testimonials on past IAPs to establish credibility.
On content, Gajendra said, “I make IAPs interactive by narrating real life stories. I explain to them how my existing clients have achieved their financial goals through mutual funds. At times, I show them my personal investments to build trust.”
Another thing that Kothari does before working on IAP content is to research the audience. “I prefer reaching out to homogenous audience having similar profession and background. It helps to customize a presentation to suit interests and goals of the target audience.”
Another Mumbai-based adviser, Suresh Sadagopan Founder, Ladder7 Financial Advisors leverages social media to grow his business. Suresh is always active on social media. He posts articles, informative contents on investment and educational videos on his Facebook page and Twitter handle.
“I don’t market any products or talk about the services we provide on social media. In fact, I try to answer queries of people related to personal finance through social media by posting articles and blogs.” Suresh believes blogs are an excellent way to share views with the clients and prospects.
In addition, Suresh uses search engine optimization to increase his visibility. In fact, he says that he has got a good response and has acquired a few clients this way.