7 Ways On How Financial Advisors Can Develop Leads

Image result for images for lead generation

Many financial advisors have a great deal of difficulty in when looking to develop leads. One of the big reasons for this is that they rely too much on outdated strategies for finding potential customers. Lead generation strategies such as direct mail, newspaper and magazine ads, and cold calling may have been successful in the past, but in the modern business world, they’re just no longer cost-effective.

Most of these methods either have a very low success rate or they don’t target a specific audience, and that’s why they have very limited value in terms of generating financial advisor leads. In order to generate really valuable leads, it will be necessary to focus on a specific target audience and use more modern methods of reaching them. Some of the best ideas for reaching out to potential customers are discussed below.

Invite leads to educational workshops

This is a very inexpensive way of providing an environment for prospective clients where there can be a free exchange of information, and a good number of potential leads can be encountered.

During the process of conducting a workshop, you can obtain information on the leads attending, and follow up with them in the days after the workshop has concluded. These kinds of sessions are generally very well received by prospects, so they are very comfortable with the setting and with the exchange of information.


If you can trigger this mechanism to work to your advantage, it can be one of the most powerful strategies in your lead generation arsenal. What you’ll have to do is demonstrate to clients you already have that you possess the four C’s, which are chemistry, caring, credible, and collaborative.

When your clients have faith in you and see that you possess these qualities, they become much more willing to tell their friends and associates all about you. This is what gets the word-of-mouth mechanism working, and once that happens you can get some serious mileage out of client referrals.

Use LinkedIn

This is one of the most effective ways of targeting a specific audience with your message. By using the filter contacts and the network tab, you can send your money management message or your investment message to all kinds of business leaders and possibly former associates.

You can also use the home tab so as to contact leads about their professional achievements, or you can simply Like their content. You can also use the advanced tab to land introductions or to make use of mutual connections. Keep in mind that LinkedIn is a haven for a good many high net worth individuals, many of whom might make ideal leads for you.

Free reports

Everyone has an interest in receiving free reports on relevant topics, regardless of the vehicle which transmits the report to them. When people read these free reports and appreciate the information contained in them, they’ll be much more inclined to contact the person responsible, so they can receive even more information. The trick is to find relevant and meaningful information to provide your potential leads with, so they’ll want to contact you and begin to build a relationship.

Dinner seminars

This idea will always involve only a very small number of possible leads, but it can be very effective if you make it an enjoyable experience for each of the individuals participating. There may be a relatively high cost involved, but if it results in obtaining one or two solid leads, the cost of a good dinner can be offset by obtaining at least one new client. If you get really good at this, it could become an ongoing method of generating leads which have real value to your business. WE suggest limiting it to 2-3 high net worth prospects. Keep it intimate and an opportunity for your prospects to build relationships with each other.

Community networking

A process like this generally requires more time before you can actually see the fruits issuing from it. What’s involved is no less than establishing trust out in your own community with a good number of people, any of whom might become one of your financial advisor leads. When you’re trying to establish a strong presence in the community, you can become involved in community events and even sponsor them to capture the attention of locals.

You can supplement your activities in this regard by increasing your presence on local radio shows, podcasts, and even by using television advertising. When you reach the point where you become a recognized figure in the community, and people have faith and trust in you, you’ll start to see the leads pouring in.

Newspaper articles

Image result for images for lead generation

Yes, that’s right, we said it.Another way of establishing your presence in the community is to write articles for the local newspaper about topics of financial interest. Especially if the newspaper has a wide circulation, you should be able to reach a number of people who have the potential to become a financial advisor leads. This will help establish you as an authority in the field whom people can look up to, and if you can achieve a few little successes in this area, you’ll have leads coming to you rather than you going to them.

If you can convince the editor of the local newspaper about your qualifications and your expertise, you’ll have a good chance of reaching a great number of people in the community. Consider digital print and traditional as well. This way of advertising for leads has decreased over the years due to the decrease in demand for print. However, if you write compellingly, you can tie certain economic events to local impact, which people will most definitely be interested in.

Sign up and enhance your marketing…

Having consistent, multiple channels of advertising will help with repetitive name and brand recognition. Individuals are more likely to solicit your help when the times comes or they need to make a change.