There are two types of asset transfer opportunities. One entails identifying a client with a pool of liquid assets you’re not managing and adroitly tapping into it. Of course, you first have to find this pool of money. The best way to do this is by having a deep understanding of the wealthy client—something attainable by being involved in their estate and retirement planning.

The other asset transfer opportunity is structural. For example, significant swings in the stock market can provide you with an opportunity to talk to your affluent clients and recommend they entrust you with more of their money.

Step #3: Ask for additional assets. With only about one in 10 financial advisors asking for more money to invest, the odds that the other nine are not going to get any if you’re the one doing the asking. Without question, asking for more business will do wonders for increasing your chances of getting more money. When you ask clients for additional assets to manage, you need to focus and position your service based on what is important to them.

Step #4: Say “Thank you” and reinforce the asset transfer decision. Far too many financial advisors, upon receiving more money to invest, become very impressed with themselves; they fail to appropriately thank their wealthy client for the opportunity to provide outstanding service. You need to let them know you greatly appreciate the belief they have in you.

By mastering the asset-capture process, you can grow your business by enhancing your client relationships. It’s a methodology all investment professionals should be employing.

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