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The first months of the new year are introspectiontime. What went well last year? What will I need to dobetter this year? The business planning process alwaysaddresses "How will I fill the prospecting pipeline?" Ifyou had a banner year, opening plenty of new accounts in 2019, youcontinue what you were doing. But if there's room forimprovement, read on.
Business accounts
You are looking for benefit plan business. The worldis your oyster. Schools and other large nonprofitsqualify. Local companies too. Associations providingbenefits to members are also on the table.
Free service for other business. Years ago, a financial planner decided he would transition into thebenefits business. His strategy was to approach schooldistricts in his area with a proposal. He would do financial plansfor everyone in senior district management at no charge. He only had one request. He wanted to be notified when they puttheir benefit plan out for competitive bid that year. There mightbe a public announcement, but it might not be easy tofind. He might not have done any business on the planningside (although people could approach him) but he got into therunning for the group benefits plan.
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Bryce Sanders
Bryce Sanders, president of Perceptive Business Solutions Inc., has provided training for the financial services industry on high-net-worth client acquisition since 2001. He trains financial professionals on how to identify prospects within the wealthiest 2%-5% of their market, where to meet and socialize with them, how to talk with wealthy people and develop personal relationships, and how to transform wealthy friends into clients. Bryce spent 14 years with a major financial services firm as a successful financial advisor, two years as a district sales manager and four years as a home office manager. He developed personal relationships within the HNW community through his past involvement as a Trustee of the James A. Michener Art Museum, Board of Associates for the Bucks County Chapter of the Fox Chase Cancer Center, Board of Trustees for Stevens Institute of Technology and as a church lector. Bryce has been published in American City Business Journals, Barrons, InsuranceNewsNet, BenefitsPro, The Register, MDRT Round the Table, MDRT Blog, accountingweb.com, Advisorpedia and Horsesmouth.com. In Canada, his articles have appeared in Wealth Professional. He is the author of the book “Captivating the Wealthy Investor.”
