Attract other people’s satisfied clients

By Bryce Sanders | February 25, 2013 | Last updated on September 21, 2023
3 min read

Just because someone is happy with his current advisor doesn’t mean you can’t win him over.

This 10-step process will help you gradually draw him into your book.

Step 1: Decide whom to prospect

You need to do some research. Figure out who has sufficient assets for a sizable additional relationship and where you’ll find them.

Objective: Choose the right prospects

Read: How to stake out prospects

Step 2: Establish exclusivity

People want what they can’t have, so cultivate a reputation for being highly selective.

Objective: Communicate to the prospect, “The best people choose me.”

How it’s done: “I’m a financial advisor at (firm). I work with a small group of successful business owners and families in the Toronto area.”


How to explain your services

Win wealthy clients with aura of exclusivity

Step 3: You’re discrete

The prospect says he doesn’t do business with friends because word gets around.

Objective: Establish that their (lawful) secrets are safe.

How it’s done:We know the same people. It’s likely some are clients. You’ve never heard me talk about my clients before. It’s unlikely I would start now.”

Step 4: Make them feel important

Courtship can be heated, while long-term relationships cool off. Similarly, some advisors pay less attention to their current clients while soliciting referrals.

Objective: Make them feel important again. Listen.

How it’s done: “Is your advisor more interested in who you know than in knowing you?”

Step 5: Establish a rationale for the relationship

“But I already have an advisor,” the prospect says, falsely assuming investors work with only one advisor. The Millionaire’s Advisor, by Russ Alan Prince and Brett Van Bortal explains that the wealthy have three advisors on average.

Objective: Make him understand he can have multiple advisory relationships.

How it’s done: “I expected you to have one. Successful people usually have multiple advisory relationships. You are obviously successful – how many do you have?

Step 6: Find out what’s missing

Years ago he set goals, today reviews are numbers-based.

Objective: Shift the focus back to goals and dreams.

How it’s done: “Let’s talk about why you invest. You have important goals you want to achieve. Does your advisor understand or are they focused on numbers? I understand why you invest.”

Read: Prospecting? Don’t be too obvious

Step 7: Establish yourself as the alternative

Objective: Be respectful of the current relationship, but clearly communicate you want to work with him.

How it’s done: “You already have an advisor. You’ve been together a long time and are probably very happy with him. Here’s my card. If anything ever changes, give me a call.”

Step 8: Be in front of them

Attend the same social functions and always say hello. Remember details and ask about them later.

Objective: Make him feel special.

How it’s done: “Good to see you again. Last time we were together you were off on a river cruise. How was it?” Or: “How did your daughter’s big swim meet go? Did your son get that big scholarship he applied for?”

Step 9: Make it easy

It’s time to establish a relationship.

Objective: Provide a sensible reason.

How it’s done:

  • “It’s been a difficult time for the market. I could look over your statements and provide a second opinion. I can review a portfolio even when the assets are held elsewhere and include accounts like retirement plans. You’ll see how everything fits together. Would you like that?
  • “I’m glad to do this on a regular basis. It would be easier if we had an established account on our books. You have a certificate of deposit maturing shortly…”

Step Ten: Make It Difficult to Go Back

Objective: Provide excellent service and gradually attract additional assets.

How it’s done: “Have you considered consolidating assets here as they mature? It would be easier for you. It would be easier for your accountant, too – fewer year-end reports to reconcile. Has your other advisor ever made this suggestion? You’ll be an important client to me.”

Read: Prospecting your way to success

Bryce Sanders

Bryce Sanders is President of Perceptive Business Solutions Inc. in New Hope, PA. His book “Captivating the Wealthy Investor” is available on