Articles in "Affluent Client Acquisition" category:

How to Court Affluent Investors

  John Diehl     Mon Mar 14 12:30:00 EDT 2016 

Business Lunch

Recent research that The Oechsli Institute performed (in collaboration with Hartford Funds) suggested that few financial advisors understand how to attract affluent investors. According to this research, in 2015, only 3.5 percent of financial advisors were bringing in 10 or more million-dollar clients, and only 2.9 percent were bringing in clients with $500,000 - $1M of investable assets1. The implications of this data are twofold: first, since so few advisors are active in the affluent investor space, there is very little competition and therefore significant opportunity; and second, financial advisors could use some tips on how to acquire more affluent investors.

Another piece of valuable information that came from the Oechsli research is that 93 percent of affluent investors chose their financial advisor through relationship marketing.2 This statistic reminds us once again of the importance of relationship building in the investor-advisor relationship—not only might a strong rapport enable advisors to better help their clients, but it might also help advisors earn their clients’ referrals.