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Have you truly examined your client base? Consultant Angie Herbers says knowing your clients is the key to serving their financial needs as well as attracting and maintaining new clients. In a post at ThinkAdvisor, Herbers suggests four areas to delve into: age groups, challenges in their lives, career aspirations, and dreams. See the details below. Also, Stephen Boswell and Kevin Nichols of The Oechsli Institute provide some questions to pose to prospects who have met with you but are having trouble making a commitment. For example, the advisor could say: “I’d like to circle back to where we started. What led you to reach out to us in the first place?” See the link below to their column at WealthManagement.com.

4 Ways to Know Clients Better

By Angie Herbers

Source: ThinkAdvisor

Generally, I’m not a fan of advisory business owners focusing on client niches. It seems to me that having a niche unnecessarily limits potential clients, and can narrow a firm’s marketing efforts. That said, independent advisory firms do tend to have groupings of similar kinds of clients. These groups typically result from client referrals as a primary marketing strategy.



When Your Prospect Won’t Make a Decision

Stephen Boswell, Kevin Nichols

Source: WealthManagement.com

Your prospect won’t make a decision. It’s frustrating. Downright infuriating. You’ve met with them, presented a proposal, but they won’t make a commitment. The good news is they continue to take your calls. The bad news is they keep telling you some iteration of “we haven’t made up our minds.” So, what do you do?