When mentoring newer advisers, one of the most frequent questions Jim Ludwick, Contributor on Advisor Perspectives hears is, “How do I demonstrate my value to prospects?”
This question remains pertinent, even for experienced advisers, he said. According to Ludwick, the field of financial and investment advice has evolved over the years, but the types of prospects we encounter have not changed significantly. They are either too busy, find things too complicated, or feel their financial world is too vast to manage alone.
To effectively demonstrate value to prospective clients, Ludwick emphasizes the importance of being perceived as knowledgeable in solving financial issues, products, and strategies. He refers to his method as the “shotgun approach.” This involves being an active participant on various adviser platforms and providing input on pressing issues that can be featured in media quotes, articles, blogs, and webinars. This strategy ensures that prospects encounter his thought leadership and expertise through multiple channels.
Ludwick notes that while many advisers rely on referrals, others may find you through online searches or social media. Active contribution or content creation can help prospects discover you via local, national, or international platforms. He lists several action items to demonstrate value effectively:
In part two, Ludwick continues by discussing the additional strategies to enhance your advisory impact.
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