123ArticleOnline Logo
Welcome to 123ArticleOnline.com!
ALL >> Insurance >> View Article

How To Be An Expert At Financial Advisor Marketing And Continuously Attract And Obtain Better Client

By Author: Senior Leads
Total Articles: 25
Comment this article

Diversification May Be a Wise Investment Practice, But It's Lousy for Your Financial Advisor Marketing

From the time you entered into the financial services, you've been told that diversification is good. And you can see the evidence with the explosion of mutual fund investing and the public's desire for and financial professionals' advice for diversified portfolios. But the same concept in your own business will result in your working more hours, enjoying your work less, being less effective, and never being able to streamline your business. With financial advisor marketing, the "winning formula" is just the opposite of diversification: focus for the best results.

Remember the conglomerates of the 60's? They're gone. Just look at what happens when large firms fail to focus--AT&T acquires NCR to get into the computer business and loses a bundle. Kodak acquires Sterling Drug and spins it back to its shareholders six years later. Firms that focus on one business and do it very well have replaced the diversified conglomerates. Look at the corporate leaders of today and how they focus--Microsoft in consumer software, Cisco in Internet connectivity, and Intel in chip manufacturing, Apple in consumer electronics, etc. Each of these firms has a narrow and focused strategy in one industry.

You want to do the same. The winning strategy in financial advisor marketing is to master a niche
Key for the New Economy: Specialize
How do these historical examples translate into advice for your business? Pick a market in which to specialize and focus your entire business on that market. Be fanatical about your Financial Advisor marketing niche.
Here's my own practice, as an example. I work with people age 60 and over. When my clients ask me to help their 40-year-old children with their finances, I politely refuse and refer them to another planner. Yes, you may think I'm crazy to turn down business, but you'll see in a minute how much sense this makes.

By specializing in a particular niche, you get to understand how their mentality works -- so well that you know what your prospects are thinking before they think it! I work all day with a segment of people who are concerned about protecting their assets. My expertise is built around that concern--the way I design investment portfolios, the approach I take in my appointments, how often I am in contact, and the products and services I offer.

My office is in the suburbs, where my prospects live. I am in a small office building with plenty of parking in the front. My office is on a well-known street and is easy to find. The location was picked to match my prospects' ease and comforts. The children of my prospects would probably find me more conveniently located downtown and would be more impressed if I were in a high-rise office building with fancy wood on the walls. I cannot find a location that would be optimal for two different audiences. I cannot serve two masters optimally.

If I were to consult with a 40-year-old, he may want me to recommend some good aggressive growth funds for investment. Or he might want to know how to handle his stock options. I have no idea! That's not my business, and it would be an incredibly inefficient use of my time to learn about products and services outside of my specialty.

If I start working with people outside of my selected niche, I will soon be working more hours to become more expert in other areas, I will need to keep track of more products and develop a presentation for other services. I'd be working more hours, would maybe need more staff, and would probably earn less money. I would be far less efficient. The success in the financial services marketing and practice management is to use the same approach and same building blocks for every client.

How our Marketing (Senior Leads.com) works.
Once you register and your completed agreement is accepted, your account is activated and our marketing efforts in your local area begin. We register your zip codes with our advertisers, and from that point it takes from one to ten days for your advertisements to start rotation. It is important to note that the marketing is not a gradual process; it is either on or off. For this reason, it is very important that you stay actively involved with your account and check your account DAILY to ensure your prospect flow meets your needs

Total Views: 49Word Count: 733See All articles From Author

Add Comment

Insurance Articles

1. In-depth Understanding The Benefits Of A Family Health Insurance Plan
Author: Anna Ruth

2. Seeing How Financial Advisors Kingston Ontario Profit
Author: Mike McKale

3. Advantages Of Good Health Insurance
Author: Richard J. Monello

4. Benefits Of A Health Insurance Policy For Young Individuals
Author: Anna Ruth

5. Lpg Insurance Policy | Bharat Gas Insurance Policy
Author: mukul wasnik

6. The Overseas Travel Insurance Plans Offer More And Cost Less
Author: Joanne Finucan

7. Examine This Report On Buy Driver License Online
Author: Eva Aide

8. What Goes Into Insurance For Car Dealerships?
Author: Jake Wintczak

9. Understand What An Estate Planning Attorney Does
Author: Jimmy Walid

10. Six Essential Tips To Compare Health Insurance Plans In Switzerland
Author: Anna Ruth

11. Claim Process Of Travel Insurance
Author: Ashish

12. 4 External Key Factors That Drives The Rise In Health Insurance Premium
Author: Anna Ruth

13. Secure Your Peril-prone Strings With Standalone String Instrument Insurance
Author: victor12johnson

14. Contact Xinsurance For Your Golf Cart Insurance Quote
Author: Jake Wintczak

15. Guitar Insurance – Protect Your Strings In The Best Possible Way!
Author: Michel Jordan

Login To Account
Login Email:
Password:
Forgot Password?
New User?
Sign Up Newsletter
Email Address: