Using the “Forbidden”… but Fantastic Marketing Tool

Depending on the license you hold… you may or may not be able to use a straight client testimonial.  Registered Investment Advisors are barred from straight out testimonials by Rule 206(4)-1(a)(1).

Fortunately, some of the best ways to use testimonials are completely compliance friendly for ALL financial professionals, regardless of the license they hold.

Here are a few excellent ways to bring on some great clients by leveraging this excellent tool… without becoming afoul in compliance problems.

  1. Put together birthday parties for your best clients.  Talk to your client’s spouse and let them know you want to throw a party for their spouse.  Ask them to put together a list of 10 to 12 of the friends they would like to invite and then mail out invitations.  You should do this at a nice restaurant.  The event should be all about the client’s birthday.  No presentation… No products… none of that.  You should toast your client at the beginning and let the client gush about you for the rest of the party.  I have an advisor client that brought on 10 new clients last year using this technique.  He made over $70,000 in income from these clients.  What did it cost him? Around $6,000 to do about 14 parties.  He plans on doubling that this year!
  2. Do an exclusive client dinner for 5 of your best clients at a time.  This should be done at an exclusive restaurant.  The ticket into the event for your client is bringing a friend.  You just have to let your clients know in the invitation letter that you are doing this brief presentation for clients and their guests.  If you write the letter appropriately, your clients will bring guests. If you need the letter, send me an email at and I’ll email it to you.  At the dinner you simply do a 30 minute presentation on something that’s been in the news that you can help them leverage to better their situation.  I have dozens of advisor clients that make this a monthly marketing plan and it brings in 1/3 to ½ of their yearly income.
  3. Are you an expert?  If you are… write a white paper or record a DVD or CD on subjects that your target market would find interesting.  Think about what keeps them up at night, and then record or write the definitive solution to that sleep robbing issue.  Then give 5 copies to each of your clients and ask them to share them with people they think could benefit.
  4. If you do nothing else… at least make sure you belong to the Better Business Bureau and have their Torch Award displayed prominently on your door or in your office.  Many advisors skip this because in their words, “It means nothing.”  Sorry, but it does.  It gives your prospects a sense of confidence in your service and reputation.
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3 Responses to Using the “Forbidden”… but Fantastic Marketing Tool

  1. John E. Santoro says:

    I am interested in the post card idea about the 4% FDIC insured bank deposits.
    It would be a good lead in for annuity sales.
    Please send me more details on your post card program.
    John Santoro

    • Thanks John, I don’t have an official postcard program. I just share timely ideas for postcards on the blog when they come up. I personally only write the content for postcards for my private coaching clients. However, you can take the verbiage I gave you in the blog and make it your own and bring it to any mailing house and save yourself some money that way. Does that make sense? Good luck!

  2. Robert K. Smith says:

    Very good presentation!

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