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Asset Managers: 3 Tips to Better Sell to Advisors

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Asset Managers: 3 Tips to Better Sell to Advisors

Written by Kelsey Woodbridge

You scratch my back and I’ll scratch yours, is just one of the many phrases you probably learned growing up. When you were a teenager and your Aunt Lisa asked for help putting up holiday decorations or your friend’s car broke down and they needed a lift, you scratched their back. Your aunt might have given you a few bucks and your friend may have bought some gas, but ultimately, you were willing to help because you knew they’d return the favor.

This is the simple give and take that’s required for any successful relationship. Attracting a relationship like this with advisors takes a foresight that will set you apart from other asset managers.

Attract Financial Advisors with Convenience

The problem here is not awareness of your products and services. Advisors know you’re there as well as many other asset management options. Advisors are stretched for time and bogged down with client management. Instead of customizing your pitch to your needs, find a solution to theirs. Why do hardworking professionals choose to eat lunch out every day? This option is convenient, quick and easy. The end goal for advisors is to attract clients, so highlight how you can make that happen in a way so convenient that you’re the obvious choice.

3 Tips to Attract the New Wealth Management End Client

The advantage of an asset manager is your ability to craft products to fit the needs of an everchanging market and clientele. When the market is unknown or there’s a large transfer of wealth, who are the advisors going to call? Asset managers. Ensure that you’ve positioned yourself to the new end client through these three tips.

1. Highlight impact investments

From reusable straws to shoes made from water bottles, eco-friendly products have entered the market and created a green movement that’s turned into a lifestyle integration for Millennials.

Consumer interest is imperative to investments, not only because the market is impacted by these but because knowing the values of advisors’ clients is the secret sauce to selling your products. Millennials are looking to make an impact for the future, and they want their investing options to reflect this.

Showcase your knowledge of the challenges that advisors are facing with their clients and how your solutions solve those challenges.

2. Keep up to date on emerging fields and new innovations

We can all agree not every new technology company is going to be the next Apple, but the potential is always there. Is this a huge bargain? Sure, but Millennials are not afraid to take chances when it comes to a new product or business venture.

Speak to both the advisors and their clients they represent by showing you are cognizant of this willingness take on this risk but can also mitigate this by combining it with other investments to create a balanced portfolio, reflecting the best option for their financial goals.

3. Offer more than just asset allocation and stock picking

Millennials grew up with the age of the internet, and because of this, they’ve had access to more information than generations before them. Offer advisors more than just your portfolio; something they can’t get from other asset managers like education materials on market trends, managing market vitality or behavioral coaching that may be beneficial for end clients. Creating certain analyses on current market situations can also be useful and presented to advisors’ clients.

When selling to potential clients as well as servicing the clients you currently have, reputation is key to growing your firm. Your reputation is built on the messages you send during every point of contact with your audience. Read our recent blog post on using content to build a communications strategy. 3 Ways Asset Managers Can Reach a Wider Audience

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