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It’s Summer and I Don’t Want to Prospect

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It’s Summer and I Don’t Want to Prospect

We have short memories.  When perfect summer days arrive, we forget all about the dreary rain and snow.  Summer seems like one great big extended bull market.  We hope it never ends.  Many advisors find it hard to focus on work when the weather is so spectacular.  Even if they do, prospecting isn’t high (or even on) the list.  Here’s the good news.  You have options.

Six Ways to Look for Future Business When the Sun is Shining

No, you aren’t sitting on a park bench with a cellphone smiling and dialing.  You are having more fun than that.

Take a vacation.  My wife and I enjoy transatlantic crossings.  You are at sea for seven days.  The Internet is slow.  Don’t even think about phone calls.  You are decompressing.  Every trip, we meet fascinating people who become our friends.  We keep in touch afterwards with e-mail and Christmas cards.  Who knows where that can lead?

You:  Plan a vacation.  Stay somewhere nice.  Dress well in tailored casual clothing.  Engage in activities where you will meet people.  Don’t push business.  Identify interests in common.  Use that as your rationale for staying in touch.  They will like you.  People do business with people they like.

Plan a BBQ for your clients.  Invite clients who have become friends.  If you had a really good year, rent a tent and upgrade to a garden party theme.  It’s done in your back yard or on your deck.  You get to know your clients better.  They meet your spouse and children.  Bonds strengthen. (Talk with your office if insurance coverage is necessary.)

You:  You get this brilliant idea:  Hold it in June, after Memorial Day!  Your clients have a great time.  When they plan their summer BBQ, they think “Let’s add Tom to the guest list.”  You meet their extended family and neighbors.

Do portfolio reviews in person.  The weather is perfect.  June 30th is behind you.  Time for those mid-year reviews.  Meet your client at their office.  It’s an opportunity to meet their co-workers as they lead you into their office and shut the door.  You buy them lunch at a nice sidewalk cafe afterwards.

You:  You have met their co-workers.  They feel important their advisor came to them.  It’s like a house call!  You relax over lunch.  They start to think about who might need your help…

Concert in the park.  It takes place around the 4th of July.  You have some friends with the potential to be clients.  You have at least one client couple that really likes you.  Assemble a group of eight to attend the concert together.  You will provide the food and beverages. 

You:  Sitting on the lawn, listening to music, everyone asks about their connections to you.  That really good client freely volunteers how you have changed their life.  Those friends start to think now may be the time to take action.  (Monday would be better.)

Attend community events.  Your religious organization likely plans a summer picnic.  The historical society has a garden party.  Guess I missed the Kentucky Derby party!  You and your spouse attend as many as possible.  No guests this time.  You mingle.

You:  A well-dressed financial advisor who doesn’t bring up business must be successful.  I keep seeing her at different events.  She must be someone important.

Plan a client recognition event.  Do your clients know all the ways you can help them?  Your product range grows, but many people think of advisors in traditional roles.  Plan an outdoor or tented brunch at a nice restaurant.  Invite a group of your clients.  Use the opportunity to thank them for their business.

You:  You table hop, reconnecting with clients and spouses.  Your short talk highlights products and services they might not know you provide.

Related: How to Get Your Network Working For You

Some of these ideas might yield new client relationships.  Others strengthen existing relationships, provide the opportunity to ask for more assets or expand the relationship to other products and services.  Lots of good things can happen when the sun is shining.

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