Choosing the Right Investment Clients

As a financial advisor, growing your career to be a successful one is imperative to reaching your professional goals. Choosing the right clientele that best fits your profile for achieving disciplined growth can be hard to navigate sometimes. SII Investments is committed to helping affiliated advisors reach their goals through education and training, technology solutions, financial advisory support, and practice management services. Our team wants to share tips for selecting clients that fit your profile for successful business development.

Seek Allies

Family and friend referrals are a great way to build a client profile, but it's important not to forget about professional referrals as well. Building a network of professional connections will help you diversify your clientele, find quality leads, and create a feeling of mutual respect from other professionals. Breaking down the barriers of a competitive referral game, seeking out allies from other industries such as law and other financial institutions is key. Some tips for whom to connect with include:

  • Those in a similar professional spectrum
  • Professionals from businesses whose clientele can utilize financial advisory services
  • Allies that are the same age and have the same number of years in business as yourself
Choose a Niche to Capitalize On

The financial services industry is constantly evolving. The referral system is structured differently than it was two decades ago and now referrals are based on perceived value of the services you provide for your clientele. Dan Richards, author of the book Getting Clients Keeping Clients: Essential Strategies for Tomorrow's Financial Advisor shares, "One of the big misconceptions among advisors is that clients make referrals to help the advisor. Almost always it is to help friends". Keeping in mind what value your work brings to clients and not to over-sell the positive word of mouth, focusing on a niche will help you develop your strengths, gain quality referrals, and reach your professional goals. Defining and refining your advisor niche should be focused around these questions:

  • Who do you want to target with your financial services?
  • What are your key differentiators that you can market?
  • What does your service and fee structure look like?

As a national broker dealer, SII Investments is dedicated to helping you build your business with a partner who understands you. We want to be your trusted partner as your grow your client profile and reach your professional goals. Learn more about SII's representative services and contact us today.