The New Year has started, and it's time to fill the pipeline again. We haven't done much since Thanksgiving, have we? You've attended lots of training seminars talking about referrals or LinkedIn, but maybe you need some fresh, or at least forgotten ideas. Here are five:

1. Where did your best clients come from? This isn't mine. It came from some trainers/coaches I've thought are tops in their field. This idea is at least 10 years old.

Make a list of your best client relationships.
Next to each name, write down how you got them. Look for commonalities.
When was the last time you used that client acquisition technique?

It's not uncommon for advisors to reply: “Oh, I haven't done that for years!”

Your “to do”: Make a list of your 10 best client relationships…

2. Referrals reimagined. Here's another old idea based on the word “help.”

Find something your clients have been complaining about recently. It might be volatility in the stock market or low interest rates.
Ideally, these are clients where you provided an answer through an investment strategy.
Presumably they followed your advice. They likely have friends with the same concern.

Your “to do”: Go back to those clients. Remind them of their issue and the answer you provided. Ask: “Who else do you know that's concerned about volatility in the stock market (or another issue)? I might be able to help them too.” The rationale is people might be hesitant to refer, but they want to help others.

3. New in the office. You've seen the headlines: Unemployment has been trending down, and job creation numbers are on the rise. If your client works in an office or factory, it's likely there have been new hires.

One might sit in the cubicle next to them. If they are newly relocated to the area, they probably are shopping around for face-to-face services.
You could easily suggest an insurance-related mention that your client would be comfortable using.
If the new hire is local (and the client really likes you) find out what sports bar they both frequent. Ahead of time, ask if they would be comfortable making an introduction if you arrived on the scene.

Your “to do”: Start by asking clients if there are new hires in their immediate vicinity…

4. Mandatory IRA distributions: Your clients often feel they need fresh money before they will take any action.

Some of your clients are probably over 70 ½.
This puts them at the point when they need to start taking IRA retirement plan distributions.
Their money is likely spread across several firms. This means you only have a piece of it.

Your “to do”: Build a list of those clients aged 70+. Are they taking mandatory distributions? Do they have plans for the money? You have an idea you would like to suggest…

5. Clients who left. Everyone loses clients. Hopefully they didn't leave because you neglected them. You probably lost some because they thought the grass was greener elsewhere. They were prospected by a charming advisor at a competitor.

How did it work out? Are they happy or having buyer's remorse? Only one way to find out.

One New York advisor calls past clients a few months after their departure.
She explains she understands they had their reasons for leaving.
She tells them they were an important client, and she wants to be sure things worked out as they hoped.

She meets them halfway. Good things might happen.

Your “to do”: Build a list of your clients who departed on good terms. Call each up. Have a similar conversation…

Many advisors look for a brand new prospecting strategy, something they've never tried before. Filling your pipeline might be a lot simpler.

Bryce Sanders is president of Perceptive Business Solutions Inc. He provides HNW client acquisition training for the financial services industry. His book, “Captivating the Wealthy Investor” can be found on Amazon.

Instant Insights /

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