Ten non-salesy ways to convert financial advice leads: part 1

By Helen Fisher on September 10, 2018

Convert more financial advice leads with these ten methods.

When it comes to finding leads for financial advisers, one of the big challenges is that selling your services might not come easily or naturally. After all, your job is to offer advice, and if you wanted to be a salesperson, then you’d most likely be in a different role altogether.

However, competition in the industry is higher than ever before, and initiating a sales process is essentially how financial advisers find new clients. Even if your marketing skills are rusty or untested, you still need to put yourself out there to create new business.

Here is part one of our top ten non-salesy ways to convert leads into clients.

Be a problem solver

If you really don’t want to be a salesperson, then don’t be. Instead, present yourself as a problem solver that aims to help other people improve their financial situations. When you reach out to prospective clients, you should hold back from a hard sell by letting them know what you can do for them, both in terms of offering them financial products or advice and the benefit of your experience and knowledge.

Any investor lead situation means that the prospect is looking for answers to queries, and this means that you can put yourself forward as the person who knows the solutions. The key to making this work is to not push your services from the outset but to hold off until the time is right. This will then present opportunities for expanding the relationship that you are building, and can even lead to solving other problems that clients might not know about yet.

Don’t pitch, educate

Across the financial advice industry, education has to be an important keyword. This is one of those tips for new financial advisers that really needs to be taken on board when it comes to closing on clients.

There is so much information out there on different providers, services and packages that consumers can find it daunting and confusing. This is your primary job – to make sure that those who are misinformed are given the right advice and to educate people in areas where they might be lacking. Planning and investment advice has to ride a fine line between giving options and accounting for personal choice, and it’s only by educating others that you can maintain your own objectivity.

Have clients sell for you

Word-of-mouth marketing has always been one of the strongest ways of getting new business, especially in any working relationship that is built on trust. Qualified leads for financial advisers can come from many different sources, but a personal referral will always carry the most weight.

By focusing on the needs of every client and becoming one of their trusted advisers, you can move forward and actively encourage them to share their experience with someone in their own networks. Of course, with the important part that social media now plays in the lives of many people, this old-fashioned approach has actually taken on a whole new perspective and can be one of your most effective marketing tools.

Team approach

Even if you work for yourself as a one-person band, you can still use teamwork to help you achieve your goals. When thinking about how to grow your client base as a financial adviser, one of the best ways is to make the most of B2B referrals. This can take many forms, but essentially revolves around the idea of setting up mutually beneficial arrangements with other professionals in associated fields.

As a financial adviser, you may well come into contact with solicitors, surveyors, brokers and lenders, and all of these people can benefit by sharing clients with you and you with them. Having a trusted network of people in other fields can not only help you get a new finance lead but can also enhance your reputation in other useful ways.

Avoid being all things to everyone

Although being a financial adviser is already a specialist role, it is all too easy to fall into the trap of trying to be all things to everyone. By knowing what you excel at, you can target your offering to a niche market, which can help your lead generation greatly.

For instance, pension leads might be something that you can target as a priority because you already have an existing client base that you have helped or because of some specialised knowledge that you have in that area. The flip side is that it can be important to know when to walk away from opportunities that come up that might not be a good fit for you. Although it can seem counterproductive to turn down any work at all, especially in the early days of a business, it’s worth remembering the old saying, “You only get one chance to make a good first impression.”

The bottom line is that in order to get more clients,  advisers need to know some very basic tips and tricks that can help them save time, money and effort in their search for new business. When you factor in the need for clients to believe that someone else has their best interests at heart and isn’t simply looking to make money out of them, it makes even more sense for you to try to avoid falling into a hard sell routine.

Make sure that you check out part two of our top ten tips to help you make your business even more efficient when it comes to converting financial advice leads into clients.

Grow your business with Lead Tech

Lead Tech provides high-quality leads for the financial advice, equity release, retirement and private medical insurance markets.

Keep Reading

Introducing James Story, senior content manager

Lead Tech is pleased to welcome James Story as our senior content manager ... More

By James Story on March 12, 2020