The 5 top tips for converting financial advice leads

By Ryan Smith on May 21, 2018

Building solid client relationships doesn't have to involve pushy sales tactics.

Most independent financial advisers agree that business development is a crucial aspect of their duties, yet many shy away from traditional lead generation methods. In order to achieve greater lead conversion rates, it is necessary to build trust with potential clients.

The benefits of earning clients’ trust include:

  • A significantly shorter sales cycle
  • Greater probability of prospects becoming revenue-generating clients
  • Helps eliminate the pressure to lower fees in an effort to attract more business
  • Cuts expenses and time spent on business development

Fortunately, there are many ways to build trust and thereby improve conversions without the need for scripted cold calls or a pushy sales pitch.

Here are our top tips for converting financial advice leads into solid client relationships:

1. Make a great first impression.

In today’s business climate, your most frequent first point of contact with potential clients is the internet. To capture the attention – and business – of investors, it is essential for financial advisers to maintain a polished, positive internet presence with a professionally-designed website and appropriate optimisation to ensure you reach the right audience.

Another important consideration is to have a clear vision of your ideal client. Targeted marketing and communication helps attract motivated prospects at the top of the sales funnel, which can significantly reduce time spent screening leads that may not be a good fit for your services.

2. Focus on education, not sales.

Savvy consumers know when they are being sold to and when it comes to financial advice many of these potential leads may be turned off by an overly ‘salesy’ approach. Instead of trying to convince prospects of your worth with a scripted sales pitch, give them the information they need to make an informed decision.

Focus on providing solutions that will educate consumers seeking financial advice. Strive to set your firm apart from the competition by becoming an authoritative voice offering leads objective information on investments and financial planning. When you help consumers cut through the noise and confusion of choosing an independent financial adviser, you build relationships that encourage leads to become clients.

3. Use each interaction to build relationships.

Speaking of relationships, try to treat every prospect interaction as an opportunity to connect. There are often a lot of emotions involved in seeking financial advice—people may feel confused, anxious, stressed or guilty about their current financial situation. By focusing on the relationship instead of the transaction, you show potential clients that you understand and want to help, which builds the kind of trust that can drive conversions.

Once you’ve established a connection, then you can begin to explain your process and the tools you will use to help prospects achieve their financial goals.

4. Maintain transparency.

Unfortunately, there are still plenty of consumer misconceptions about working with a financial adviser. People do not want to hand over their hard-earned money and financial health to a professional who seems to have something to hide. The best way to combat this kind of distrust is by going out of your way to be transparent with potential clients.

Create a binding code of ethics that you share with each prospect, detailing your mission and how you approach client interactions, provide written verification of your professional credentials and qualifications, display proof of your education and licensing compliance, develop a clear fee structure to distribute to leads and maintain updated documentation of your sales records.

5. Seek opportunities to improve your reputation.

Sometimes, the best way to convert leads to clients is by strengthening your reputation outside of the office. Traditional marketing is still important, but now more than ever financial advisers are seeing impressive returns by leveraging the power of social media, maintaining a high profile in their local communities and encouraging word-of-mouth advertising from satisfied clients.

Some suggestions for improving your reputation include:

  • Participating in community service initiatives
  • Becoming active in local civic organisations
  • Sponsoring community events
  • Hosting casual client gatherings or appreciation events
  • Soliciting positive reviews or testimonials from satisfied clients


Business development is a critical yet often overlooked part of working in the money advice and planning sector. However, as an independent financial adviser, it is important to take the time to focus on lead conversions in order to improve revenue. If the thought of cold calling or making a sales pitch to every prospect who contacts you leaves you feeling flat, focus on other ways to build the trust and relationships that will help convert leads to valuable clients.

The leads that Lead Tech connect you with already go through a tried and tested customer journey, so we know they’re ready to receive your call. From there it’s up to you to promote yourself, put the prospect at ease, and make a conversion.

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