by Deepak Patel​

 If You Are A Financial Advisor, RIA or Wealth Manager Looking To Get Clients …This Will Be An Important Article to Read Now” 

 

Before we discuss what the Top Financial Advisor do differently from the so-called Average Financial Advisor, let's define the two groups of Advisors based on their income as stated reported by PayScale and U.S Bureau of Labor Statistics.

 

1. Average Advisors: Making Less than $100,000 in total income per year

2.Top Advisors: Making high 6 figures ($250,000+) and 7 figures (over $1 Million) in total income per year

 

Most Financial Advisor wants to get to multiple 6 figures in their career but unfortunately…

The Median Income of Financial Advisor is less than $100,000

So that shows that just being in the Wealth Managment space does NOT guarantee Personal Wealth Accumulation…

 

Statistics show that most Financial Advisors struggle while the Top Advisors absolutely crush it…

 

So you must be wondering…

 

What do Top Advisors Do to Crush It?

Well in general Top Advisor take control of their own destiny and do NOT rely on their firms…no matter how big or small the firm is…

 

Financial Services Industry is a “People Business,” and your ability to find and deal with clients is the name of the game…

 

Most amateur Advisor thinks…the “Technical” Qualification and knowledge of the Market is the MOST critical skills…

 

WRONG…!!

 

Here are the 3 things all Top Advisors Do..

#1 Prospecting Daily…

They know that “if their business is not growing, then it's dying.” 

 

“If you are not moving forward, then you are moving backward.”

 

NO is staying in the same place in life and business.

 

There are many reasons to keep prospecting daily, given the churn on clients that impacts your AUM and business but also…

 

There are a growing market and demand for Financial Services…The HNW (High Net Worth) individuals grew by almost 10% between 2016 and 2017 (as per worldwealthreport.com), that is a lot of growth, 1.8 Million individuals to be precise…

 

These people require Financial Advise and there are many more Millions with a lesser asset that needs Financial Advising…

 

So prospering is the name of the GAME…

 

But most average Advisor thinks Prospecting can only be done manually….

 

Not really…

#2 Build Automated Systems…

All Top Advisor understands that they are in the business to get free and they MUST build a business that works for them and not the other way around…

 

The only way to have Business work for you and not another way around is by building “systems.”

 

The Top Advisors uses Technology and Automation to do everything from Prospecting to Client Relationship Management…

 

Sure they do spend time meeting their High-value clients…

 

But Prospecting is best done via Systems that filters automatically only qualified and serious prospects that the Top Advisors then speaks with to convert them to paying clients…

“If you don’t have machines generating Leads, you will be a slave to your business…forever”

And then there is one other masterful thing some of the Top Advisors do that absolutely crushes it…​

#3 Focus on a Niche…

Yes, they become an expert to a group of people…

 

They do not sell anything to anyone…this is the sure pathway to go hungry and poor…

 

The best way to compete is to compete with a smaller group of people…

 

Just by focusing on a Niche…you are a SPECIALIST and gain more respect from your Niche clients…

 

Here’s what one of the Top 7-Figure Financial Advisor firms says on their site…

What a masterful strategies, to focus just on Dentist and Doctors…

 

Now there are many other ways to find a Niche…In fact, Niche marketing has gained a lot of momentum with access to the internet and the change in consumer behavior and access to big data..

 

You can virtually target any kind of person …

 

And the significant benefit of this Niche strategy

Simplifies Marketing

Imagine, now you only have to target a small group of people, and you can quickly get to multiple 7 figures by doing this as there are a lot of people in each Niche…

 

So if you are looking to become Top Producer in your firms, then consider the above strategies…



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