If You Think You Have All Your Clients’ Money… Guess Again

If you think you have all your clients’ money… join the club. Most advisors think they have all the client’s money. It ends up you are wrong. Cerulli Associates actually went out and asked clients if they had money outside your management… most times they did as you see in the chart below.

Do you know how easy it would be to capitalize on this fact? Try this… bring some value to your clients that they don’t expect. Or do something for them where you don’t ask for anything back… and you’ll be surprised how many clients will bring up some money “they just happened to have lying around.”

How can you bring value to them? One idea is to make an appointment with them to walk through a checklist with them. This could be about a number of things:

  • What belongs… and what doesn’t belong in their safety deposit box
  • A list of all the tax deductions they are allowed and how to maximize them
  • Or better yet walk them through a well thought out plan of getting their affairs in order.

The advisors I work with use the 21 Point Checklist… it is a money magnet!



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Let Them Touch It!

You are the most talented salesperson on earth. You sell the intangible.

Every other salesperson has the advantage that people can see and touch what they are buying… homes… cars… copiers… televisions…

You sell air… concepts… ideas… promises. That is a tough sale. But have you sat down and thought of ways to turn the intangible… INTO tangible things your client can hold?

Here’s one technique I used that worked really well. After walking a prospect through their current situation, we always found they could do the following:

  • Pay less taxes
  • Pay less fees
  • Make more money

I’m sure you do something similar by showing the prospect how you can improve their current situation. BUT… how many times after showing them the thousands and thousands you can save them… did they just walk away? You can’t believe it! How could they possibly not implement this plan!

Do you want to know why? It’s because they don’t need to… they are living perfectly comfortably without your ideas.

They think, “Sure it would be nice, but why rock the boat when I’m living large right now?”

So here’s what I did to turn that “idea” into something they could actually hold on to.

I had a cigar box on a shelf in my office filled with $3,000 of fifty and one hundreds dollar bills. After I got done showing the client how much I could save them in fees and taxes, I asked them if I could show them how much money that was. They would always look at me strangely thinking, “Duh, I know how to do math!”

But they would always humor me and say I could show them. So, let’s say I determined I could save them $4,200 per year.   I would then take the box with the cash down from the shelf… open it up and pull out the wad of cash. I would then count out the largest amount of money I could with the $3,000 I had on hand.

For example, I would say, “The savings we are talking about would be like someone walking up to your door every 6 months and handing you (and I would count it out a bill at a time)… 100, 200, 300, 400, 500, 600, 700, 800, 900, 1,000………. (All the way up to $2,100)—then I would push the money over in front of them on the desk.

No matter how much money they were worth… it got their attention. They would nervously laugh and ask if they could take it home with them. And I would simply say “Of course! That and more! Every 6 months you’ll get that wad of cash, just by making the changes we talked about today.”

Then, I pull the money back and neatly place it in my cigar box. Boy, oh boy, you could see the wheels turning in their head! This made the savings I was talking about real and it tapped into their desires and greed.   You see, I gave them REAL money… and then I took it back. That is using a HUGE psychological tool. They are now suffering LOSS!

Try it and you’ll never again have someone nonchalantly walking away from the savings you are talking about!

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WOW! How an Advisor used these simple things to get 2% Better each week to more than triple his income in a year…

This 56-minute, tell all, video walks you through the surprisingly simple… and absolutely free… things an advisor did to go from making just $50,000 a year… to less than 3 years later making over $1 million a year.

Watch “What can 2% Better Mean for you” courtesy of 5Q Group:


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A Little Work Once a Month… and a few hundred dollars leads to 25 huge referrals

A Florida advisor knew he could help an accountant, who specialized in small business taxes, save his clients taxes.  He was rebuffed every time he approached the accountant… so he decided to put the approach on automatic.  He began to send the accountant pertinent books with the best part marked and highlighted once a month.  He did this for 13 months… and then the call came… and then another and another.  End game–$397 spent… 25 terrific referrals… 12 new clients… millions in new money under management.

Are you thinking outside the box?

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How are you intercepting all the money in movement every day?

$1.23 TRILLION dollars changes hands every day.  You wouldn’t have to intercept much of that to see a huge difference in your bottom line.  Where is the money going?  401(k) rollovers… divorce settlements… business sales… savings… investing… and the list goes on.

What is your plan to intercept some of it?

  • There are advisors who make a great living going down to the court house every couple of months and finding divorce settlements. They send out a pre-approach letter explaining how they specialize in working with people who are recently divorced.  They then follow up with a phone call after checking to make sure the person isn’t on the DNC list.
  • There are advisors killing it by trolling LinkedIn, Facebook and the business sections of their local paper looking for people that have recently changed jobs… and approaching those people about 401(k) rollovers.
  • I know an advisor that dripped on a Human Resources department head at a DIY big box retailer for over a year and then hit the jack pot. The company discontinued its Defined Benefit plan and guess who got all the referrals about what to do with the money that the company distributed to its employees?    The guy made over $2 million in two years with NO marketing costs.

Moral of the story?  Think about where your top clients came from… is there a way to put yourself in front of people just like them when they are making money decisions?  Spending an afternoon thinking about this could change your business forever… in a very, very good way!

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3 Simple Marketing Tactics to Capture the Untouchables… (The 87% of Retirees that DON’T Respond to Marketing)

How do you get the “Untouchables” in your office… the 87% of people that do not respond to any type of marketing?  This is one white paper that every advisor should read. It gives you 3 simple ways to do it with case studies of advisors successfully implementing them.  It’s yours courtesy of 5Q Group.

Download your copy HERE

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Your Marketing is Going to Suffer if You Are Touting Investments or Rates of Return!

Wondering how to get people to come see you… and more importantly to move their money to you?  This 49-minute video walks you through the science of what works to do both!  (Hint: Fast forward about 4-minutes into it.)

Here’s the YouTube link:

The ticket to success… it’s NOT return: https://www.youtube.com/watch?v=pwASX05GQRo

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5 Tips on How to Make a Sale… even if they won’t answer the phone!

In today’s world of cell phones and caller ID… it’s getting harder and harder to get people to pick up the phone or return your calls.  So what do you do?

While your voicemail will not sell a product, neither should your first one-on-one meeting with the client.  It is simply part of the process.  It can move you closer to a sale… much closer to a sale… if you use it right.

Here are 5 Tips to leaving an Effective voicemail:

  1. Don’t just introduce yourself or worse yet try to sell your product or service. DO…
    1. Let them know about an article they might find interesting on your website
    2. Leave them with a funny or interesting fact (think Snapple Tea caps)
    3. Let them know about a mutual acquaintance you have
    4. About an offer for a free book you have for them
    5. Or, tie a hot, current news item as to why you want to talk to them (this is an extremely effective message).
  2. Know EXACTLY what you are going to say! Don’t wing it… there is nothing worse than rambling on and then regretting your message.  Remember, you can’t pull that message back.  And keep it brief… 1-minute or less.
  3. Give them options to respond. Give them the option of calling back or going to your website to respond (you can even leave your email if it is short and simple).
  4. Please speak clearly… slowly… and repeat your contact info!
  5. Let them know that you’ll keep trying to contact them but give them an easy out if they don’t want you to continue. Inject a bit of humor here if you’ve already contacted them a few times.  Also, keep track of who you’ve left messages for and don’t contact them more than once or twice a week.
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Gut Reaction… key to getting appointments!

Go to a bakery and have them use their new technology to put your Logo or Unique Selling Proposition on a cookie!

You can use this idea to get more appointments to actually show up. You simply mail them the confirmation letter with a couple of cookies as a thank you for making and coming to the appointment.

What do you do at a trade show (Senior Expo, Local business Expo, etc.) to get everyone to come to your booth? Logo cookies.

You could drop off the cookies at all the schools in your area for a back to school treat for the teachers… along with some information about how you help teachers.

How about companies in your area? Trade groups? And the list goes on and on. A cookie is a certain way to get people to “digest” your name… and if you are creative… a phenomenal Unique Selling Proposition!

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Do it be-CAUSE it will make you both money… and feel better!

A recent study showed that decision-makers are much more likely to work with someone if that company, or professional, actively supports a cause or non-profit entity.   It is a simple measurement of… “Do they care about something other than their profits?”

What works best? Here are the issues Americans want companies to support:

  • Education 80%
  • Entities that support the poor 80%
  • Health and disease prevention 79%
  • Clean water 78%
  • Environmental protection 77%
  • Disaster relief 70%

Where should you put a mention of your support? Everywhere. Your website… your stationary… in your office… on your desk… everywhere.

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