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Client acquisition is key for the growth of any distributor. Distributors face unique challenges for client acquisition including lead generation, prospecting, relationship building and client retention.
In his book ‘The Ultimate Client Acquisition System for Financial Advisors’, Suraj Kaeley, author and Founder – The Sales Accelerator, shares his insights on client acquisition and how they can be used for sustainable business expansion.
According to Suraj, distributors should not just rely on referrals but focus their efforts primarily towards acquiring high value clients. He recommends distributors to find their niche when it comes to such clients who have similar background.
He also suggests the main pillars to succeed in prospecting based on his experience. This includes consistency in efforts to create prospects, focusing on active referrals, mastering follow-up and diligent tracking for conversion.
Besides this, Suraj also shares his strategy to build long-term relationships with clients and prospects. He emphasizes that most of the investors take their financial decisions based on their emotions and for MFDs to acquire and retain their clients, regular engagement is very important.
Suraj concludes his book by saying that distributors should keep themselves updated with the latest happenings in the financial services industry.
On the other side, increasing middle class expenses and growth in emerging markets are creating exciting opportunities for advisors and distributors who are willing to adapt with time.
Suraj has over 35 years of experience in finance and has worked for sales and distribution teams of FIL fund management, L&T Financial Advisory & UTI MF.