Top 10 Marketing Habits of Million Dollar Financial Advisors

By Antoinette Rodriguez, MBA

In our line of work, invariably we come across certain givens regarding why some Advisor teams are more successful than others.  In addition to thoroughly taking care of your clients and minding their portfolios, you need to maintain consistent marketing efforts.  We have identified the Top 10 Marketing Habits of Million Dollar Financial Advisors. They include:
 
#1 - Know your sweet spot
 
It's difficult to turn business down, but those potential clients who are too far off the beaten path, will be the same ones who keep you and your staff up on Sunday nights.  Know when to say no, or even better, have other Financial Advisors you can refer them to.  It’s much easier to build on your strengths if you know what they are. We have also found that advisors whose overall book is more similar than not are happier, have more relaxing vacations and the invitation of congruous clients and prospects to VIP events is smoother. 
 
 #2 - Dedicate staff to sales efforts
 
Teams who build their business steadily have Financial Advisors and/or other staff in charge of customer relationships and lead generation.  Every business has attrition and most business owners know this.
 
The persons in charge of business development should be relatively social and other people-centered. Marketing staff must be provided the resources to do their role well. These resources include an allocated budget and dedicated marketing time both before and after business hours.  
 
Additionally, all staff should be trained to identify opportunities while they're servicing existing clients.
 
 #3 - Play outside in traffic – A lot
 
Top advisors understand that while doing a good job is an excellent way to garner referrals, they should not leave to chance that their top clients are being wined and dined or are playing golf with their competitors. Very few prospects are in your office and it’s a fact of life that "mano-a-mano" also known as hand-to-hand marketing is the best way to get and maintain the attention of high net worth prospects.
 
Watch the video below  to learn more about the Top 10 Marketing Habits of Million Dollar Financial Advisors:

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​Need advice on your Marketing Plan, business strategy, partnership issues or sales training to help your staff become better rainmakers? Contact Antoinette Rodriguez today for a complimentary consultation.