Top 3 Lead Generation Strategies Used by Successful Financial Advisors

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By AffluenseeTeam

Outbound is one of the most profitable lead generation strategies

It will always be a numbers game.

It’s just a matter of improving those numbers with the right prospects, following up with information related to that prospect (having the data to know what and when to send), having a clear and focused mind, and the will to succeed.

So you are a Wealth Advisor at a large firm, can’t cold call anymore and at mercy of administration, compliance, rules and regulations.

You are now relying on referrals from current clients, bankers and center of influences

That may be fine and dandy for the passive Wealth Advisor, but a majority of you reading this built their book of business on cold outreach and know it works.

So let’s dive into a sample prospect and

  • Find out how to reach out to them
  • How to structure a weekly process
  • What are the best messaging to target these prospects with?

Lead Generation Strategies # 1 | The Best Prospect Criteria

The best Lead Generation Strategies come from knowing what makes a great prospect and here it is.

  1. They have investable assets within a money in motion event (Obvious but have seen many advisors focus on the wrong prospects)
  2. They live very busy, complex lives that require outside counsel and help to plan for their futures
  3. They require Trust and Estate Planning, Alternative Investments and building Wealth through Lending

Think about what your top client or prospects have in common and focus on replicating that type of approach when performing outreach.

Lead Generation Strategies

Lead Generation Strategies # 2 | How To Structure a Weekly Process

You know that prospecting is a matter of “getting to a no” as quickly as possible.

Sounds backwards right?

If they swear you off, ask you to remove them from your lists, not interested, etc, move on.

You don’t want to risk compliance breathing down your neck, garnering a bad reputation of being “pushy” or have that prospect bad mouth you to other prospects.

They are a prospect until they explicitly say otherwise.

Week 1 | Use LinkedIn To Set The Tone

LinkedIn is becoming the “go-to” for Wealth Management Firms with the removal of cold calling as a marketing option.

This sucks for a lot of advisors that have built their books of business. With limited resources, income, hurdles to achieve, families to feed, this is the most efficient way to do it.

Do not let anyone tell you “cold-calling is dead”, because it is certainty very much alive and profitable.

Can you sign up for a “lead service” such as this? Just be aware to what you are signing up and paying for.

So for now, it’s what we have.

The problem is that LinkedIn is overwhelmingly automated pitches, bad ads, worse sales pitches and repeating the same messages over and over.

However, with this comes opportunity and here is how.

Whenever you think that you know a prospect, peel back the layers of that prospect even further.

Study their profile, pick up pieces of information others would miss or misinterpret completely. Put yourself in their shoes and figure out what pains are “top of mind” each and every day.

Use that information and couple it with the Trust and Estate Planning, Alternative Investments and building Wealth through Lending.

Lead Generation Strategies # 3 | The Best Messaging Technique To Educate With

Most complains I here from Wealth Advisors when bringing them onboard is “my material seems to fall flat when I send it out or share it on LinkedIn”

No kidding…

This falls flat on its face for a few reasons

  1. When I engage a professional, I want them to explain it to me with their opinions. I don’t want to read industry jargon that is going to be equivalent of watching my grass grow. I don’t care if your opinion is different than what your firm is putting out. I want to hear it and gladly pay for it
  2. Everyone is sharing the same thing. Look how much engagement some of the Forbes 250 Top Advisors are getting. Maybe a couple clicks and views from Wholesalers, colleagues or teammates. By the time this research is printed, it has been decimated by the legal team and unreadable.
  3. There are not preemptive descriptions of what it is you’re sending the prospect. What does it have to do with me? Why should I care and not report your message is spam?

Here is what you should do instead and is the most important lead generation strategies you can take away in this post.

Give a 2-3 sentence explanation of how this impacts them! Don’t make it anymore than that.

  • Sentence 1: Hi ____, had this come up with a client recently that works in a similiar position as you and thought you could benefit from it.
  • Sentence 2: It is a (article, PDF, whatever) on helping individuals create Trust Plans for their families.
  • Sentence 3: Hope you find it helpful and will touch base with you next week.

So lets put these lead generation strategies together.

Hi Jim,

Had this come up with a client recently that works in a similiar position as you and thought you could benefit from it.

It is an article on helping individuals create Trust Plans for their families.

Hope you find it helpful and will touch base with you next week.

That is just a loose example and you can tool around with the service or product you are aiming to approach the prospect with.

Notice how there is no “I” in it and it constantly revolves around the client.

Messaging such as this was how I raised $50 million in AUM in 3 years with no existing book of business, wealthy contacts or family.

Start Deploying These Lead Generation Strategies

The best thing about these lead generation strategies is that it strips away all of the complex messaging, services and information needed to connect with such a prospect.

However, having a constant database of individuals you can do this with is another story.

If you are looking for a way to reach the people mentioned above, with that criteria, give the Affluensee Platform a try and you won’t be disappointed.

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