Prospecting for HNW Women

Advisors we’ve talked to assign the following attributes to their ideal client: A person with substantial money to invest One willing to follow a long-term plan One loyal to them who even advocates on their behalf A person who doesn’t bail when the market falters One who understands and appreciates everything he does beyond getting…

Recently, an advisor who was taking our course on prospecting, “The Art of Acquiring Female Clients” told us he was struggling with the notion of calling a woman to congratulate her on a promotion and, he asked us when, in that conversation, should he tell her what he did for a living. This is what…

The question we get asked most often by advisors who have taken the first step in recognizing that their future success lies with acquiring more female clients is this: “Where do I find women with money?” Here’s what we tell them: Rule #1 Understand that most people like to congregate with people they have something…

For those willing to put in the time and effort, the rewards are gratifying – and prospecting can be made easier.” Understand that you are a sales person, not a portfolio manager While the above seems obvious, given the blank stares we get when we talk about prospecting, we have come to realize that a…

It’s puzzling to us when advisors say they don’t want to brand themselves as “too female friendly” for fear of alienating their male clients. Yet, they seem perfectly okay with alienating their female clients by maintaining a male focused practice. Given that women control 1/3 of all financial assets, which is expected to grow to…

With research piling up, there is no doubt that very few financial companies do a great job on behalf of their female clients. But there are individual advisors, who do – and their female clients love them. Of all the female investors we’ve interviewed who like their advisor, there are recurring themes. And of all…

Like many advisors there are probably plenty of days when you feel underappreciated. Perhaps clients don’t really understand what you do for them and how much effort it takes or they simply don’t value your efforts because it doesn’t touch them emotionally. Whatever the reason there is something you can do that they will appreciate…