Prospecting Strategies for Financial Advisors

This field is all about process and scale. It has become more difficult to leverage time to do this due to rules, regulations, competition and red-tape that makes the marketing process an uphill battle. However, it is a battle that must be fought in order to experience increasing success. Therefore, the question we must ask is

“What can I/we do to automate prospecting systems to generate financial advisor leads so that excessive time is not spent or wasted?”

  • What are your prospecting strategies now?
  • Who is responsible for business development and prospecting?
  • Do you have time or days blocked off for this critical element?
  • What time do you feel most energetic to prospect?
  • Do I need to alter the way I target prospects?

This is a short list of questions you must know before pressing on. Only then will you see your book of business exponentially increase.

Be Specific about What You’re Calling On


Financial advisor prospecting strategies needs to be a direct, rifle like approach will yield the best results in a few different ways. Firstly, you will have a better rate of return on your efforts versus a generalized approach. Specific does not mean a particular product but the fact that you have potentially identified a problem the prospect may or may not be aware of. The simplest method to this proof (besides studies) is to put yourself in the shoes of the prospect.

If I was to receive a prospecting call, would I want it to be general or be something specific to a problem I am facing?

Financial Advisor Prospecting Strategies Service

When generating leads, there is no need to blindly call or email a prospect without having the facts at hand. You need to have an edge on your competitors by providing solutions you provide, by listing the benefits to them and you NEED to be first to approach them.

The good news is that with the power of social media and technology, you are able to get this information quickly. However, you need to determine what that process is for you and your team.

  • Do you look for money in motion opportunities?
  • Do you comb 401(k) filings for contacts and plan discrepancies you can approach the owner with?
  • Do you set Google Alerts or LinkedIn notifications?
  • Are you prospecting on social media through your connections to meet?
  • Do you ask for and aim for referrals?
  • Do you have a good relationship with some Center Of Influences?
  • Are you familiar with business transactions occurring locally?
  • Do you use databases and platforms that help generate prospect information?

We believe these methods are good but not specifically intended for the financial advisor. Whether you pursue a relationship with Odegee to aid you in your prospecting efforts or you choose someone else based on the niche you serve, ensure that is delivers the pertinent information related to your market.

For example, if you target corporate executives, we provide you with the following information and opportunity in real-time:

  • Prospect name
  • Contact Information
  • Title
  • Phone, address & e-mail
  • Social media links
  • Bio & Summary
  • Stock Option exercising (money in motion)
  • Notes on the opportunity at hand
  • Other additional items that you leverage to help close business

Aggregating this lead data and delivering it real-time to you automates the process of searching and compiling it yourself. Remember, being early to the table will be your greatest advantage. Invest in your business, leverage your time and scale the business you have always envisioned.

Use At Least 3 Different Touch Points

financial advisor prospecting

Get in front and stay in front! You will be in a great position to capture the business (or even a portion) when they fall of the radar. If you have a good touch point process in place, USE IT! This is what the advisors that use our platform suggest to have the most success and we have written it in this article as well.

  1. Connect on LinkedIn.
  2. Send or email a personalized letter (Great piece by Hubspot)
  3. Call

This area is expanded in another article but is a nice, simple, clean way to establish yourself as the go-to professional and will establish your drive to the prospect early on.

Finally, Ask The Opportunity To Earn a Portion Of Their Business


There is a common theme with the advisors that have had used our financial advisor lead service. You have a great opportunity to earn some of the business from the stock option they exercise. Those that have a great team, process, expertise and market opinions begin to win the assets outside of their firm. Many advisors don’t win the business because they don’t ask for it. Whether you are on a call, sending a letter or LinkedIn message. ensure that you have a call to action in there at the end such as this.

“We look forward to potentially working with you and we hope to earn a portion of your business”

This lets the prospect know that you understand this is a process and relationship that is built over time. Starting off with a smaller asset level will help establish trust.

Ask For The Opportunity!

  • Ensure your business practice processes are up to date.
  • Call on something specific, prospects receive too many general inquiries.
  • Identify how you build prospect lists and know when its time to automate it.
  • Not having AT LEAST 3-5 touch points is unacceptable, enhance or implement them.
  • Ask for the opportunity to earn a portion of the business!