Five Tips for Successfully Attracting “A” Level Clients

SIMI VALLEY, CA - In the financial services industry, the information age, combined with a wave of new technology, has caused a rate of change that is unprecedented. The world is quickly becoming more competitive and consumers are becoming more sophisticated and are demanding more service for less money. There are fewer lines of distinction between the services offered by atto
eys, accountants, stockbrokers, financial planners, insurance agents, bankers, real estate agents, and trust companies and many professionals are feeling overwhelmed by the intrusion of new competitors.

So, in today's market, how does the financial services professional differentiate himself or herself from the competition and become a magnet for new business? I offer five tips for successfully attracting "A" level clients.

Tip #1 - Avoid Being A "Stalk" Broker

I once met a financial consultant with a major international brokerage firm. This consultant was becoming frustrated with his marketing efforts. He was using a contact management system, the same system that he had been using for years, but it was no longer producing results. He would send out mail pieces to a target list of clients and would have his staff follow-up with phone calls. He found he was working harder for less money, and constantly chasing business. He rarely received incoming new business calls. I offered this professional the following analogy. "Have you ever been personally pursued by someone who was attracted to you, but you weren't interested in them? At first, you were probably flattered by the attention. But, as time went on, you became more and more uncomfortable with the situation and began feeling stalked. You started avoiding this person's calls and any contact." I suggested that it is the same in business. That in order to attract "A" level clients, you must pre-position yourself as a magnet for new business and avoid being a "stalk" broker.

Tip #2 - Know Your Market

The financial services professional should put himself or herself in the position of the client. Imagine yourself as having $100 million in cash assets. Would you be interested in professionals whose approach is asset gathering? Probably not. The successful financial services professional understands this and seeks ways to behave differently from his or her competitors.

Tip #3 - Don't Prospect

You should not prospect "A" level business, but make yourself attractive to and worthy of "A" level business. It is best to start by discovering your own strengths and weaknesses and then align yourself with others who compliment your expertise and are also working with "A" level clients. Increase your own personal profile by writing articles, participating in panel discussions, and/or creating a compelling booklet, audio or video highlighting how clients benefit from your expertise.

Tip #4 - Position Yourself

I believe that personal positioning is key. It is critical that you develop an engaging message that is different from your competition. The financial services professional should genuinely care about the client. Position yourself by developing a vision for the client's philosophical and emotional issues. Demonstrate that you are thinking deeply about the client's well-being. I recommend that you ask questions that a client will think about such as "what is your perfect calendar?" and "what stands in the way of living that perfect calendar?" You must move out of a "salesman" role and into that of a "goal identifier and fulfiller." This personal positioning will assure that you are memorable and leave a lasting impression.

Tip # 5 - Develop A Sound Marketing Strategy

Finally, I must emphasize the importance of a sound marketing strategy. Create a plan for yourself to accomplish your goals that includes the development of strong personal collateral materials. Develop a biography. Create a written statement of your skills and assets. Create and maintain a schedule for your own career development. Make sure that other professionals see you as an essential part of their team in servicing, retaining, and attracting their "A" level clients.