How to Acquire More Clients as a Financial Advisor

Brian O'Connell  |

Whether you’re a new financial advisor or a seasoned one, getting more clients is probably one of the most challenging issues you face. Seasoned financial advisors may find their clients are aging, and they have to look at gaining younger clients in order to sustain their business.

New financial advisors have to find ways to get in front of prospective clients. Getting clients and building a solid book of business can take some hard work. Here are some methods that can help.

Create a website

Your website can work for you 24/7. It can keep a stream of prospective clients coming in if the right SEO tactics and marketing strategies are used. Blog posts giving essential financial advice can be posted on your social media profiles. You can get potential clients to sign up to your email list so you can start creating a relationship with them.

Build your network

Building a solid network can lead to consistent referrals. It’s possible to create a wide-reaching network through social media marketing. Networking by attending local events is just as important.

You never know who you will meet through networking with others in your area. If you are networking at an event and you’re asked what you do, you should have an answer at the ready that will help you to stand out.

Develop strong alliances

Cultivate your relationships with accountants, estate attorneys, CPAs and other professionals. You’re likely to get more clients if you work on building strategic referral partnerships.

Use Customer Relationship Management software (CRM)

A CRM can help you to streamline your prospecting. For example, you will know who you’ve already called, when to follow up, what contacts methods you’ve used, etc.

Use customized presentation folders

Create marketing collateral with custom presentation folders (like these from Company Folders Inc). Find a visual style that embodies your brand and your folders can help to cement your brand image.

Get involved in the local community

If you don’t have a large budget for marketing, consider getting involved in your local community. When you volunteer and become involved with local groups and communities you feel passionate about supporting, you will often meet like-minded people. They may end up becoming clients or refer other people to you.

Make sure you’re on LinkedIn

LinkedIn is a great networking site for professionals. You can join groups, message other professionals, post relevant financial articles and more. LinkedIn can provide you with background information on prospective clients that makes a cold call much easier.

It helps to find individuals with whom you have something in common, such as both being alumni of the same university. It’s a good opening for a conversation. Of course, you should always tell them that you found their information on LinkedIn, and be respectful if they don't reciprocate interest. No one enjoys being the target of unwanted interest.

Know what clients you want to work with

Prospect for clients whom you know will be a good fit. Who are your ideal prospects? Think about demographics, personality traits and values. Prospecting is not easy and the more targeted you are in your approach, the more successful you’re likely to be.

Host a client appreciation event

Host a client appreciation event for current and prospective clients. A client appreciation event is not a time to pitch or to sell but to show your clients how much you appreciate them. Show them what it would be like to have you as a financial advisor.

A client who feels appreciated is more likely to stick with you and refer others to you. A loyal client base boosts your credibility and increases awareness of your brand. An impersonal birthday card doesn’t cut it anymore. You need to use other ways to cement your relationship with clients and increase their trust in you.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to:



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