Creating and implementing a Financial Advisor Marketing System is one of the best ways too guarantee the success of your advisory practice. My entire life has been dedicated to studying and interviewing thousands of successful people including top advisors and multi-millionaires to get inside their head and learn what they do differently to achieve amazing levels of success. Not surprising are the differences that separate an average financial advisor from a top financial advisor, or a millionaire and a non-millionaire. While subtle, these differences are clearly critical to reaching the ranks of the upper echelon in business and life. They all begin with a system.
From my 20+ years of researching successful financial advisors, I define success advisors who achieves a balanced life consisting of wealth, health,happiness and peace of mind. While most advisors who want to remain seated would not sit on a four-legged chair that was missing a leg, you shouldn’t focus on wealth at the cost of failed relationships or health. In studying financial advisors who have long-term success in their business and balanced lives, the importance of a solid foundation quickly becomes clear — which includes a plan and a clear vision.
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Step 1: Decide on a goal.
The first step is to decide what you want. When are you at your best? What motivates and inspires you? Take time to clearly see your future. Once you are clear on your ideal future, then create both a visualization board and a visualization book. This is a collage of pictures that motivate and inspire you. Each morning when you rise and each evening when you retire, review your book. Put your board where you can see it during the day.
Step 2: Write out your financial advisor mission statement.
The next step is to write out your mission statement. It should be clear, easy to understand and you want to memorize it. For example, Financial Advisor Marketing Practices.com’s mission statement is: “We are a consulting and coaching firm that provides advisors solutions and strategies to grow their business and increase their retention, referrals and relationships with affluent clients.”
Sun Microsystem’s mission is “To solve complex networking computing problems for government enterprises and service providers.”
The key is to clearly and concisely identify your desired outcome.
Step 3: Write affirmative goals.
The next step is to write out goals in every area of your life, including your career, finances, family, relationships, health, spirituality and community. The most effective goals are positive, present-tense.
Examples include:
* I earn $500,000 per year working with 100 non-traditional affluent women.
* I weigh 125 pounds, work out for 30 minutes four times per week and eat lean protein, fresh vegetables and complex carbohydrates.
Step 4: Create HVFDAs for each goal.
A successful life is a balance between your affirmative goals and actions. I recommend that you identify two actions, which I refer to as high-value fixed daily activities (HVFDAs), for each goal. These are actions you must do consistently on a daily basis to achieve your goals.
For example, sample HVFDAs for the first affirmative goal above could include:
* I complete one community feeder workshop each week.
* I prospect and make calls each day from 10-2.
Putting it all together
It’s important that your goals, affirmations, HVFDAs, and objectives resonate with you and motivate you. If you have a tendency to procrastinate, or find it hard to remember or find time to set goals, I encourage you to create a daily checklist.
Once you have created a foundation, determined what you want, written out your goals and HFVDAs you are ready to
Step 5: Choose a niche market.
Top financial advisors who also have a balanced life understand the power of identifying and serving a niche market. Creating a target market in your financial advisor marketing plan is critical to becoming a rainmaker, because it allows you to streamline your business, become a specialist, and increase your value to prospects and clients.
I recommend no more than two niche markets, but you need to determine what works for you. No matter how many you go for, I think it’s a good idea to become successful in one niche market before expanding into another.
Step 6: Ask a few questions
Once you choose a niche market the next step of your financial advisor marketing plan is to learn everything you can about your niche market. While you want to interview clients in your niche market, don’t forget to interview prospects, centers of influence, and reciprocal referral relationship partners. Asking questions is a great way to maximize your exposure while connecting with new prospects.
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