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

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