4 August 2021
I regularly ask aspiring financial planners what they fear most, and three responses dominate.
One is that they will lack the technical knowledge needed when in front of a client and won’t be able to answer a question. Another is that they will find it difficult to discuss their fees. I will cover both of these at a later date as the third is something all aspiring planners can begin to address before they even sit their first exam.
This is how to find and attract new clients. Client acquisition is not a regulatory requirement, and it doesn’t feature in any of the main level 4 exam syllabuses, but it is fundamental to career success.
Many established businesses rely predominantly on referrals to find new clients but this has two main challenges. A new financial planner loses the chance to influence their client mix if they are solely relying on referrals and, more fundamental than that, if you have no clients in the first place, you can’t be referred.