How many new financial advice prospects should you be speaking to each week?

By Ryan Smith on September 18, 2018

Our tips will help you find your ideal number.

When you have gone through a large number of investor leads to get to the stage where you have definite prospects, just how many should you be speaking to each week? It’s a valid question, although one that is hard to quantify as there are so many different variables that can come into play.

Essentially, there can be no one-size-fits-all answer as your own time and resource constraints, coupled with your desire and ambition, will all be factors that affect your own personal equation. Even so, there are some basic rules that will apply across the board, and if you follow them, then it will mean that the next finance lead that you get could turn out to become a valued client.


Having a strict weekly schedule is a very important way to organise your life as a financial adviser. A Model Work Week can help you ensure that everything gets done and that no aspect of your work takes priority over another that should be demanding equal attention.

Blocking out time for client meetings is important, of course, as is putting time aside for your own personal development in terms of keeping on top of market moves and financial industry developments. Making sure that you have enough time to prospect for new clients is essential as qualified leads for financial advisers can be hard to develop, and a good proportion of this should involve actually speaking to them.

Your schedule should be organised to be productive, but that doesn’t mean over-stretching yourself. In fact, it should give you the chance to do exactly the opposite and manage your time to your own best advantage.


If you make 100 calls a day, then how many people will you actually speak to? If you did manage to speak with 100 people, then how many will agree to further contact? How many of these will result in a meeting? And ultimately, how many will become clients?

This might seem like a series of unanswerable questions, but really you should know the numbers. Of course, there will be variations, and there will certainly be different answers from different advisers, but in the main, your own rates should be predictable.

If a lot of your work revolves around pension leads and you want to predict your turnover for a certain period, then being able to answer the questions about the success of your call rate is a necessary part of business planning. By the same token, if you are looking for a growth burst or actively need to move things forward, you can juggle your schedule to allow for more calls and then be able to predict outcomes within a range – allowing for certain variables, of course.

Actually speaking?

The question posed in the title of this article is, “How many new financial advice prospects should you be speaking to each week?”, and you may well be wondering whether that actually means talking to someone. Of course, today so much of our day-to-day communications are carried out electronically or virtually, such as using email, social media, text messages or any number of other methods. This means that the power and impact of actually speaking to another person, either on the phone or face to face, is often overlooked – so if you take the question to be framed around actual human interaction, then it becomes a lot clearer as to what you need to do.

Personal touch

When it comes to lead generation companies, UK offerings are up there among the best. Even if you use a reputable service such as Lead Tech to help you gather leads and then turn them into prospects, you still need to take that final step of actually adding someone to your client base.

This is where the personal touch comes in, and it’s really the most basic example of how you can stand out from the crowd. Although you’ll obviously be using a CRM system to manage your schedule and data because it is the best way to streamline your prospecting process, it’s also easy to let it take over. This can result in a kind of generic approach, which might well seem to give a glaze of corporate sheen but often comes at the expense of getting your own unique personality and message across.


One of the big reasons for many financial advisers neglecting to speak to prospects at all is a fear of rejection. Of course, you will encounter rejection while prospecting – it’s undeniably a natural part of the process and it happens to the best. The bottom line is that some people will be interested in what you have to say, while others won’t be. The big point to remember is that if someone isn’t interested, then they are not actually a prospect.

It’s much easier to handle a “virtual” rejection by email or online than it is in person. If you’re speaking to someone on the phone or face to face and they are obviously not interested in moving forward, then the most important thing is to be polite and courteous. Also, a rejection can actually be better than a “maybe” because if you know for sure that someone isn’t interested in your offering, then you can move on to the next investing lead and they might well be.

Existing clients

A final consideration in how many prospects you should be talking to each week is that you should also be talking to existing clients. The benefits of focusing on your current clients are manifold and include the fact that regular contact engenders happier clients and also that opportunities can open up for additional services that you hadn’t foreseen.

Having a conversation is a two-way process, and it means that things can naturally progress to cover areas you might not have envisaged. This can mean referral opportunities, but it can also simply involve building a deeper level of trust with clients over time.

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