As a successful MDRT
member, you give back to your community and you do it for all the right reasons. As a bonus, many
charitably minded people often choose to do business with other volunteers sharing the same values.
Do the people volunteering alongside you know what you do for a living? While researching my book
“Captivating the Wealthy Investor,” I interviewed high-net-worth individuals involved in the
community.
Do these committed donors know if the volunteers working alongside them are financial advisors? Most said no. That’s understandable if people put the organization and its mission first.
So how do successful advisors get the word out?
The statistics
During those interviews. I asked advisors, “Have you ever gained clients through your involvement in community organizations?” and 71 percent said yes. Next I asked, “Did a member approach you and ask to talk about business or vice versa?” and 65 percent said they were approached. The remaining 35 percent presumably took the first step. Since this wasn’t a “one off,” many advisors said they used both methods.
Now imagine your own results if you raised your visibility! You might become the financial advisor the property developer addressed earlier: She belongs to everything and gets all the business.
Bryce Sanders is president of Perceptive Business Solutions Inc. He provides high-net-worth client acquisition training for the financial services industry. His book “Captivating the Wealthy Investor” is available on Amazon.
Do these committed donors know if the volunteers working alongside them are financial advisors? Most said no. That’s understandable if people put the organization and its mission first.
So how do successful advisors get the word out?
- Being vital to the community. A local property developer explained: “He belongs to everything and gets all the business.”
- Spousal connection. An art dealer said: “I knew the wife first. The four of us went to dinner and talked professions.”
- Publicity. A retired cruise ship captain remarked: “I saw their picture in the newspaper.”
- Endowment. A retired portfolio manager said the organization he volunteered with knew he was interested in investments and asked him to help the organization manage their money.
- Giving back. A local center of influence said: “Giving back to the community is a differentiator.”
- Participation. An elected official observed financial advisors “come to meetings regularly.”
- Connect via your children. A client said: “Advisors have a better opportunity to connect with me if their children are involved in the same activities as mine.”
The statistics
During those interviews. I asked advisors, “Have you ever gained clients through your involvement in community organizations?” and 71 percent said yes. Next I asked, “Did a member approach you and ask to talk about business or vice versa?” and 65 percent said they were approached. The remaining 35 percent presumably took the first step. Since this wasn’t a “one off,” many advisors said they used both methods.
Now imagine your own results if you raised your visibility! You might become the financial advisor the property developer addressed earlier: She belongs to everything and gets all the business.
Bryce Sanders is president of Perceptive Business Solutions Inc. He provides high-net-worth client acquisition training for the financial services industry. His book “Captivating the Wealthy Investor” is available on Amazon.
