Part 1: Building a Client Acquisition Process with Razor Leads

By Dave Faulkner

For many financial advisors, client acquisition is a poorly defined activity – largely consisting of asking existing clients and centres of influence for referrals – and usually done without much structure or process. This is surprising because prospecting is regularly ranked as a top priority among advisors.

To be effective, client acquisition needs to be a repeatable process that can be done by anyone in your office. A well-defined process will save you time and energy, while keeping you focused on the activities that need to be performed on a daily, weekly and monthly basis to achieve the results you want.

The steps outlined below are intended to be flexible, allowing you to build a Client Acquisition Process that reflects your specific goals for growth and ideal client profile.

The Client Acquisition Process

The goal of any Client Acquisition Process is to systematize activities that are performed on a daily, weekly and monthly basis by you or your sales assistant that will result in new prospects that are interested in meeting with you.

With the increasing use of mobile devices and social networks by prospects, you must rethink how you engage and connect with new clients. You need to provide real-time, personalized experiences that reach new clients with the information they need and want, when they need and want it.

To that end, we have created Razor Leads, a powerful engagement and marketing tool that you can use to better connect with existing and potential clients. Powered by the RazorPlan™ platform, Razor Leads helps people prepare for retirement and encourages them to connect with you to discuss their planning needs.

As an engagement tool, Razor Leads enables you to invite a prospect or client to visit a branded landing page that includes your profile and contact information. Here, the prospect answers a few simple questions and gets a personalized report that outlines their potential retirement income and provides suggestions on their top priorities.

The process outlined in part 2 and part 3 suggests simple daily, weekly and monthly activity goals that offer two benefits:

  1. Direct contact with known prospects and clients – Allows you to establish a need for further planning that serves your clients better and may generate new revenue opportunities.
  2. Indirect contact unknown prospects – Social network referrals that can generate meetings with new prospects.

Each activity can be completed in just a few minutes per day and over time these activities have the potential to become a successful prospecting tool through regular social media sharing.

To help you manage your prospecting activities, we have developed a Client Acquisition Worksheet you can use to keep track of your progress.

8 replies
  1. Kathy
    Kathy says:

    What data is the outcome based on? I ran one with made up info and it came out at $30,000 the person was at 45% of the average Canadian retirement income

    • Mike Howe
      Mike Howe says:

      Kathy, RediNest calculates the potential retirement income based on the investment values, planned savings, planned retirement age and an assumed life expectancy of age 90. Essentially the calculator determines the maximum income payable from the planned retirement age until age 90 based on the data entered. This potential retirement income is then compared to the average attainable income from all the plans created using RazorPlan software. The average Canadian potential income represents the income people who have planners building plans for them could attain.

      The goal of RediNest is to let your clients enter some data to see what their potential retirement income is and how it compares with other Canadians who are working with financial planners.


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  1. […] Prospecting with Razor Leads: Part 1 […]

  2. […] Part 1 and Part 2, we covered the importance of defining a Client Acquisition Process and provided an […]

  3. […] Part 1: Building a client acquisition process with RediNest […]

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