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Success as a Financial Advisor For Dummies
book

Success as a Financial Advisor For Dummies

by Ivan M. Illan
December 2018
Beginner content levelBeginner
384 pages
9h 53m
English
For Dummies
Content preview from Success as a Financial Advisor For Dummies

Chapter 13

Formalizing Your Client Due Diligence Process

IN THIS CHAPTER

Bullet Distinguishing consumers from clients

Bullet Focusing on the most important stuff

Bullet Taking a four-step approach to due diligence

How do you decide whether to work with a particular person, household, or business and in which capacity (broker or advisor) will you serve them to maximize value? I know plenty of advisors who say they want to work with high-net-worth clients or business owners. However, determining a client market characteristic isn’t the same as developing a repeatable client acquisition process. The most successful financial advisors are those who seek opportunities that enable them to deliver real economic value to the client or consumer, regardless of potential revenues to be earned from fees or commissions.

Remember A consumer is someone who shops for and buys products, whereas a client is someone who seeks guidance or wants to outsource more of the decision-making to a specialist.

In this chapter, I explain the difference between acquiring a new consumer versus a new client and how to make sure you’re prioritizing ...

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Publisher Resources

ISBN: 9781119504108Purchase book