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Your Best Client Is Your Competitor’s Best Prospect

What is your strategy to be top of mind with your clients?

August 10, 2016

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Your Best Client Is Your Competitor’s Best Prospect

One of the biggest challenges for a financial advisor is to be top of mind with clients, especially when a life-changing event occurs.  Many life changes are eagerly anticipated, such as the birth of a child or grandchild, marriage, and retirement.  Other life changes are often disruptive and unexpected, including a transfer or the loss of a job, a death in the family, a disability — even market volatility. These occurrences can be unsettling to clients and prospects and may cause them to question their relationship with their advisor.

Unless you maintain meaningful contact with your clients and prospects, they may consider other options.  These options come in the form of your competitors, the Internet, and even robo advisors.  To help sustain the loyalty factor with your clients and prospects, you should be having at least 12 to 18 meaningful contacts per year in the form of meetings, phone calls, newsletters, client events, etc.  It’s up to you to make it happen.