Where can I find the ideal client for your clinic

Many companies prescribe to their advisers and brokers the exact types of clients they want to attract. Although it is not set in stone, most large stent companies want their representatives to look for prospects for middle-aged (or older) individuals with current assets between US$1 million and US$5 million.

These may be lucrative customers, but it can also be said that the convex brackets are completely wrong. Some people believe that consultants should target people between the age of 21 and 45 with cash or liquid investments between US$50,000 and US$500,000. However, this may be too narrow and keep a large number of potential customers away from your sight. If you are an advisor who wants to add luster to your business, you should probably not ignore the young and less wealthy investor community.

Key points

  • Many financial advisors are taught to find new clients with large amounts of liquid assets, many of them older clients, in order to maintain a stable business.
  • However, younger, less affluent clients usually need financial advice, and although they currently have fewer investments, they are unlikely to already have an advisor.
  • No matter what your target demographic is, knowing where and how to meet more people who fit this model is important to grow your business.

Customer demographics

Most middle-aged and senior citizens with high net worth are set in their own way. They are more likely to already have financial advisors and are less willing to accept newcomers trying to raise funds for investment. In contrast, their younger, less wealthy counterparts are generally more receptive to advice. They are also more likely to have life-changing events that create mobility and thus provide opportunities for savvy consultants.

As a registered representative, this does not mean that you should reject high-end accounts. They are a good source of income, and if you do well, they are likely to recommend you to other wealthy people. But keep in mind that as the family grows, it is easier for young workers to change jobs (and transfer their 401(k) money to the IRA) and buy and sell houses. In these situations, they may need advice from financial professionals and are more common among young people.

In addition, younger generations are more likely to have children, and in many cases, they need a package to go to college. Smart and enterprising consultants can help lead young families on the path to financial goals. After all, these young, less wealthy families are just getting started. As their family grows and their living conditions change, you will have countless opportunities to establish mutually beneficial relationships.

You can also consider narrowing your business scope to target high-net-worth clients or working-class families. Wealthy clients may be profitable, but they have few people around them, and many of them already have advisory relationships—in other words, competition may be fierce. Working-class and middle-class clients are far more numerous, and it is unlikely that they will already have consultants.

Of course, you need to accumulate more business from smaller customers, which may only be equivalent to a wealthy customer-so weigh your trade-offs. Affluent customers may be more demanding, expect high-quality services, and pay more attention to short-term returns, while less affluent customers may be more interested in achieving goals such as college or retirement savings.

Looking for potential customers

So, how do you find these people so that you can promote your sales?


As a registered representative, you can register for many mailing lists provided by marketing companies that can help you determine your demographic information. Of course, you can also check the local phone book at any time. Local marketing companies can provide you with similar data. Find a list of people in your area because they will be easier to contact. There are also some online-only services that can provide potential customers through email or social media marketing.

Local organization

Consider joining your local chamber of commerce. This will enable you to meet various business owners and celebrities in the community. These people may need venture capital, and if you build a relationship with them, you may choose to help them do this.

In addition, consider joining a local gym or other local organization that may provide social opportunities. These will enable you to meet different groups in the community. Remember, people like to do business with people they can see and touch, not just voices on the phone or text in emails.

Connect with other professionals

Make friends with local certified accountants, lawyers, doctors, car sales agents, real estate agents and insurance agents. These people will learn more about the financial situation of a few locals who fit the people you want to target. It is proposed to establish a recommendation system, where you provide them with business, and they will send the business in your way. This works! This is a great way to get a large number of qualified potential customers without calling. Professional network organizations like BNI and chambers of commerce can be important resources for connecting and sharing recommendations.

school activities

Consider contacting the local school and let the children discuss (for free) your career as a registered representative. School administrators usually accept this. This allows you to introduce yourself to new members of the community and helps children learn about saving and investing. You can even send your children home with your business card and information describing yourself, your company, your license and your abilities. This will open many doors for young couples whose families are growing in your community.

See local

Your local community is full of young, less wealthy investors who are willing to hire financial advisors for themselves and their families. Consultants must be creative in their methods to find them and make sales pitches valuable. These people are not always high-net-worth investors, and no client will make you very rich. However, over time, adding a large number of these customers to your business book almost guarantees a steady stream of commissions in the near future.


READ ALSO:   Core Satellite Investment Guide
Share your love