4 Ways Financial Advisors Can Move Prospects To Fully-Fledged Clients 

Attracting new clients isn’t easy. But as a financial advisor, it’s a vital part of the job, whether you work for a large firm or you’re a solopreneur running your own business. 

The good news is, there are clients out there in need of advice.

A January 2022 study by research firm Platforum found a third of Brits claim to use a financial adviser - but only 8% actually do.

Commenting on the results of the study Platforum research director Richard Bradley said: “The financial advice industry currently services a surprisingly narrow section of the adult population. Less than 10% of people are receiving ongoing advice, due to a shortage of financial advisers and advisers focusing on providing ongoing advice to the more affluent.” 

So how can you connect with this pool of potential clients who clearly want advice, but aren’t getting it? 

Well, you have several options. 

• You could ramp up your marketing. 
• You could attend networking events.
• You could get involved with the local community. 
• You could increase your social media presence. 

These are all valid and effective strategies to boost your profile among potential clients.  

But getting your name out there is just half the battle. The real challenge is convincing prospects that you’re the right adviser for them. 

Of course, there'll be occasions where you won’t be the perfect fit - when a potential client would actually be better served by another advisor, perhaps one that works in a particular field.

But (hopefully) more often than not, your prospects will be people you want to work with. 

So, how can you get someone over the line from a potential to a fully fledged client?

Here are a few suggestions…

Gather plenty of testimonials  

You could spend hours telling a prospect how good you are at your job - how your advice has changed countless lives, how clients have been able to retire early because of your recommendations. 

But nothing is as powerful as hearing it from the horse’s mouth. 

Ask as many clients as possible for a testimonial. Build testimonial gathering into your processes. And make sure you use them intelligently across your marketing and on your website.

Invest in a proper website  

Talking of websites, it’s essential that you have one. What’s the first thing you do when you hear about a new restaurant or bar? Head to the website. But what would happen if there wasn’t one? You probably wouldn’t bother visiting. After all, how do you know whether you’d like what it serves or even where it’s located and when it's open. 

Having a professional website that’s easy to navigate, well-optimised and answers client questions is a simple and effective way of selling yourself and your services as well as getting your personality and values across. 

It’s also an excellent place to include your qualifications and credentials - a crucial way to boost your legitimacy. 

Know your niche and stick to it

If you needed your tonsils taken out, who would you feel more comfortable with? A surgeon who carries out the procedure multiple times a day or your GP? 

Well, the same can be said of financial advice. If a client needs help with their investment portfolio, they won’t want advice from someone who specialises in mortgages.  

It doesn’t matter what area you niche down into, just make sure your prospects know that you’re a specialist and where your expertise lie. 

Add value by offering extras 

Telling a potential client that you can solve more than one of their concerns is a surefire way to get them to sign on the dotted line. Luckily, technology has made it easier than ever for advisors to offer added-value services.

Take cash management platforms, for example. These enable people to monitor and manage all their cash savings in one place and seamlessly switch accounts when a better deal becomes available.

By offering a cash management service, your clients wouldn’t have to spend hours researching the best rates on the market and filling out piles of applications. The hard work would be done from.

But integrating your own platform sounds difficult, not to mention expensive, right?

Not necessarily. 

Akoni’s white label offering means advisors can offer their own branded cash management platform to clients at no extra cost.  

The Akoni platform uses Open Banking technology to allow savers to book market-leading rates from a range of banks and building societies all offering full FSCS protection. Clients can view all their cash accounts in one single place, even if the account is held independently from Akoni. 

Ready to book a demo? Get in touch and we’ll arrange for one of our team to give you a call.