The average American knows 600 people.  The New York Times made this observation in 2013. Financial advisors probably know even more. Why? We are gregarious, friendly people. After the pandemic restrictions are lifted, it’s likely we will all be socializing again, to at least some degree. Some of your “600” are clients now. What about others? Shouldn’t at least some of them be getting onboard?

A training manager at one of the major financial services firms moved the concept from the abstract to the practical with two easy examples: How many people attended your wedding? How many contacts do you have in your phone?

Let’s look at a systematic approach in two stages: identification and messaging.

Stage One—Identification
Across the experience spectrum, advisors often say: “I don’t know anyone who has money.” Others say: “I know people with money socially, but I don’t know how to approach them.” 

Let’s start with identification. You know people in silos. Some people are “invisible” because you see them often, but not in the context as possible clients. In stage one, try building a list of silos where you know people. I suggest listing 50 silos, but in this example we will stop at 20.

1. Immediate neighbors
2. Former neighbors
3. New neighbors

You are doing some of the box thinking. We live in the present, thinking about people living in the nearby houses or apartments. Think about those great friends that moved away. Why? Because they got that great job in another city! Have a plan for the people who haven’t arrived yet, but enter the picture on a regular basis.

4. Religious organization
5. Community organizations
6. Service clubs
7. Professional organizations

You are active in your community. You aren’t sitting around the house watching your favorite streaming channel. Well, maybe during the pandemic, but not in normal day-to-day life. You see familiar faces. You run into the same people. Who are they?

8. Your children’s school
9. School sports
10. Play groups

One of my gym buddies has children active in school sports. She remarked: “Every semester, your friends are chosen for you.” As a dedicated parent, you attend games and cheer for your children. You are surrounded by other parents. There’s the parent-teacher organization. If your children are young, they are on the play-group circuit. There are plenty of other parents.

11. Sports you play
12. Spectator sports
13. Your sports bar

Sports are now addressed apart from school, where you are a parent. Now, you are involved on an adult level. Golf. Tennis. Basketball. You tailgate on weekends before home games. You know lots of people.

14. Merchants you patronize
15. Services you buy
16. Places where you drink
17. Restaurants you frequent

When looking for clients, don’t overlook existing relationships where you are the client. Although you sell insurance, you likely buy auto and homeowner’s insurance from a local agent. You get your hair cut. You have an accountant, lawyer and realtor. A trusted mechanic services your car.

18. People from your previous career
19. People who used to work in your office
20. People you knew from college

You had a connection. You’ve stayed in touch. You see each other at reunions. They like you.

Twenty down 30 lists to go. We haven’t touched family yet. Ditto the gym. Don’t forget the less obvious ones, like people you recognize on the commuter train. Once you have your “list of lists” written down, populate them. There will be overlap, but you will be amazed at the number of people you know. Running for political office flashes through your mind. It was just an idea.

Stage Two—Messaging
Everyone knows someone who is always switched on. They want to talk about what they are selling. The real estate agent who always talks about new listings. They can be annoying.

You want people to know three things about you: who you are, what you do and why you are good. You want to learn three things about them: who they are, where they work and what they do. Lets look at some low-key approaches to making it happen.

1. You are what you wear. You wear the tee shirt with the firm’s logo at the gym. You’ve got the logoed windbreaker at the game. You’ve got either the logoed tie or lapel pin when out and about in the community. You are communicating a message.

2. Take an interest in them. People enjoy talking about themselves. You may wonder if they know what you do. You probably don’t know much about them either. When you both have time, stop for a coffee. Say “We’ve known each other five years. I know you work at (firm). I’ve always assumed it’s something to do with research. What is it you actually do?” Stop talking.  They will explain. They will likely take an interest in you.

3. Third person approach. Respect the relationship. “You know where I work and what I do. I’ve never brought up business, because I assume you work with someone else. They take great care of you. It’s been a difficult time in the market. You may know some people who haven’t been as lucky as you. I thought we might spend a few minutes talking about ‘What I do.’  Then, if you run into anyone with certain problems, you will know how I might be able to help them.”

These are only three of many ways to bring up business without sounding “salesy.”  Once you have raised your visibility, stay on their radar. Eventually, some of your 600+ people will need help. This should keep you top of mind.

Bryce Sanders is president of Perceptive Business Solutions Inc. He provides HNW client acquisition training for the financial services industry. His book, Captivating the Wealthy Investor can be found on Amazon.