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!



About Mike Kaselnak

Michael Kaselnak is considered one of the top marketing and sales experts in the financial services industry. He has personally mentored over 300 financial advisors in the past 10 years. These financial advisors saw their average production increase by 62%. Many saw increases of over 300 percent. He writes articles that have appeared in many mainstream magazines and has written the popular report 300 Financial Headlines that sell.
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