Do you want to be the Top Financial Advisor and rank among the top 1% of financial advisors?
Great! This is one of the most important articles you will ever read, that will shape you to become a top financial advisor.
When we are talking about Top Financial Advisors, we refer to those financial advisors that make more than $1,000,000 in revenue per year. To be a 7+ figure income earner, you need to do something that is out of the box.
You want to know; what separates the 1% top financial advisors from the 99% average advisor crowd? How do the Top Advisors crush it every day?
There are three key reasons for their success.
The advisors who climb the stairway to success do three things daily. They stay consistent and do not rely on vague ads, referrals, and other old methods of prospecting to get clients.
They are absolute winners because they work smartly. If you want to be like them, do the following 3 things.
Prospect Everyday
The financial, insurance and loan advisors face numerous challenges but the number one is Prospecting. Prospecting is necessary for your business but over the years, you may lose the energy and hope of prospecting.
Every time you hear a ‘yes’ from a prospect, you hear ‘no’ from 10 other prospects. The most depressing thing that can happen to an advisor is getting stuck in a cycle of ‘NO, NO, and NO’.
Most financial advisors fail to understand the Cause and Effect Mechanism. To move your boat forward, you should prospect every day. Prospects don’t miraculously find the advisors.
Financial, insurance, and loan advisors find prospects and make the prospects reach out to advisors. For every effect, there has to be a cause.
To get a reaction from the prospects, you have to do the action.
A weird thing, typically average financial advisors do is ‘Hope Marketing’.
The hope marketing happened when the financial advisor goes to their office and sits there praying that they get a call from a referral lead. Or they might expect a lead to find them through a newspaper ad they published a month ago or someone clicks on their website that ranks on the last page in Google search to approach them.
Sounds like an awful situation. Right?
On the contrary, the 1% top financial advisors, do prospecting every day. Yes, EVERY DAY!
If your “business is not growing then it could be dying”. Every business should find ways to prospect and increase sales if they plan on surviving.
Another reason for not wanting to prospect or ineffectively prospecting can be manual prospecting. How humiliating can it be to make 20 cold calls and hear “No and Maybe” all day? ‘Maybe’ is a limbo that will destroy your day.
So, if your days at work and specifically prospecting are poorly planned and ineffective, you are wasting a lot of time, energy, and emotions.
Find the best ways of prospecting that work in the modern world of business marketing.
Do you know how the top 1% of advisors became what they are today? They molded their strategies, adapted to the environment of prospecting, and evolved with the technology.
If you don’t Prospect daily and move ahead one step, you will be thrown backward as all your competitors move forward.
Automated Ways of Prospecting
We are blessed to have the internet. As an advisor, you should be twice more grateful for the invention because you can prospect effortlessly through the internet.
Just like Robert Kiyosaki’s “Rich don’t work, money works for rich” term, “automated systems do prospecting for advisors”.
Long gone are the times when people did everything manually. Bring automation to your life and generate the leads online. Top financial advisors don’t have the time to talk to each prospect and manually reach out to them.
They use their time to do other vital tasks. If your routine is monotonous and you find yourself doing invaluable prospecting, then you should reevaluate your manual prospecting strategy.
As a top advisor, you need ready-to-go HNW (High Net Worth) clients. How to find those clients?
Now I am going to tell you something you probably know already-Use Facebook and LinkedIn.
Yes! Facebook and LinkedIn are the best places to find clients. You might have even tried it, but trust me these are effective tools.
If you did not find any clients and failed at this approach, it is your fault. You should not believe that something is useless unless it actually is.
On Facebook and LinkedIn, one of the most common reasons you are failing to find clients is that you are a generalist.
This leads us to the last and the most important point- Niche Selection.
Niche Selection
Prospecting is one part of the equation, if you are a generalist then you are probably not going to get into the top financial advisors.
To get a competitive edge and master what you do, you need to select a niche and specialize in it.
Just like a cardiologist stands out from the crowd of physicians, you can stand out only if you select a niche and outshine in it.
Choose a particular niche and get to know everything about it. Become invincible and leave the average financial advisors in the dust.
Build your profile on LinkedIn and Facebook. Speak to your clients and talk about the niche you specialize in. Set up automated ads, publish posts, and articles. Create content that hits the market and brings back feedback or new clients.
Focus on growth and work a little towards our goal daily. Don’t give up on prospecting, even if you specialize in your niche, prospecting, and niche targeting go hand in hand.
Bottom Line
Concentrate on moving forward and do whatever it takes to be an expert in your niche. Spend more time on writing articles and reaching out to prospective clients on LinkedIn, map your strategies, and study your ideal client.
Consistency is the key to becoming successful. When you work hard while staying on the right road, success is the ultimate destination, it is just a matter of time-when?
Make a cause and effect strategy and don’t rely on mere predictions.
To become a Top Financial Advisor, never settle for less!
-- Bilal.
