4 tips to bring in new assets

By Matt Oechsli | May 2, 2013 | Last updated on May 2, 2013
2 min read

The summer is a great opportunity for advisors to socialize with affluent clients and their centers of influence. And if you play your cards right, you can bring in new assets.

Read: How to stand out

Our research shows advisors who have a personal and business relationship with their affluent clients have three times the center of influence penetration than advisors who only have a business relationship.

Here are some simple steps to help you plan and execute summer activities that will build business.

Read: Foster a better business culture

1. Plan: Determine the clients and referral alliance partners (e.g. accountants, lawyers) you want to engage in fun social activities. Also decide who within your top client’s centers of influence you would like to meet, and ask clients to bring these people to the event.

Read: 4 ways to run effective meeting

2. Get the word out: Contact top clients and referral partners to get their summer vacation schedules. Discuss the activity you’re planning. The key is to pick an activity that will interest the majority of guests. This could include:

  • A ballgame – take guests and rent a box;
  • Exercise – invite clients to do a 10K run or a 50 mile bike ride;
  • A BBQ – invite clients and their families to a cookout. You could also include activities for children like face painting or a magic show;
  • Golf, fishing, water sports – invite clients to a golfing or waterskiing lesson or charter a fishing boat;
  • Outdoor events – take clients to a local concert or an art event in the park.

Note you can cover costs through your business development account – perhaps you hold the event one month and pay for brochures or other marketing materials the next. And usually guests will reciprocate, inviting you to their social functions. So advisors paying out of their own pockets should consider it a business investment.

Read: Don’t cross the line

3. Schedule: Keep your July and August calendars open for social events. Your objective is to spend time strengthening relationships with existing clients, while beginning new relationships with prospects.

4. Get help (if needed): You can ask your team to help with pre-planning logistics and sending out invitations. And if your team members have good relationships with clients, ask them to join.

Matt Oechsli is the author of The Art of Selling to the Affluent. His firm, The Oechsli Institute, does ongoing speaking and training for nearly every major firm in Canada and the US. @mattoechsli

Matt Oechsli