Getting More Assets from Existing Clients

THE EASIEST WAY FOR AN ADVISOR TO GET MORE ASSETS is from existing clients. My experience shows that most clients have as many assets somewhere other than with their advisor as they have with him. In some cases these assets may be held in 401(k) or retirement plans, but at some point these assets become available. If you have built a relationship of trust with your client, he will be open to discussing consolidating at least a portion of those assets, provided that you ask. These are the easiest new assets to get because a relationship of trust already exists.

If you are an experienced advisor and have built the foundation, you can expect to achieve up to 50 percent of your new asset goal by ...

Get The Million-Dollar Financial Services Practice, 2nd Edition now with O’Reilly online learning.

O’Reilly members experience live online training, plus books, videos, and digital content from 200+ publishers.