How Finworx Helps Grow Your Practice

Converting New Clients

Even though we believe your current clients are your best clients, we want you to be fully prepared to engage and convert new leads and prospects when opportunities arise. Whether a current client gives you a friend’s email address or someone hands you a business card on the golf course, the effort of following up, demonstrating your value, and building the trust needed to actually convert a new client can be both challenging and time consuming.

That’s why we provide quality messaging and financial material that is purposefully written to nurture and convert your prospects.

We have material for recruiting leads away from their current advisor, as well as pieces explaining the necessity of having a financial advisor to people who don’t. Each prospecting message offers educational value to prove why you are the best and only advisor for the recipient, wrapping up with a soft prompt to call you with any financial questions or needs.

Growing Assets Through Current Clients

The client acquisition costs of chasing new leads are typically substantially higher than the cost of maintaining and leveraging existing client relationships to grow your business. In fact, engaged clients and strong advisor-client relationships present some of the greatest opportunities for growing AUM. Below are a few of the top growth strategies we’ve identified.

Increase Wallet Share

The Finworx library features prospecting pieces to teach clients about the importance of giving you, as their advisor, a complete view of their assets to determine portfolio allocation for the best results. Other emails describe different life changes and milestones that should trigger a client to give you a call.

We even tailor messages to remind your clients which areas and services you specialize in, so they have a full understanding of your expertise. The more aware clients are of your products, services, and skills, the more immediately you’ll come to mind when any related needs arise.


Lock Down Generational Wealth Transfer

Brace yourself for some striking statistics…

PwC predicts that by 2020, gen X and millennials will control more than half of all investable assets, or about $30 trillion.1

Only 2% of children keep their inheritance with their parents’ financial advisor and, with the death of their husbands, only 45% of wives keep their assets with the same financial advisor. 2

70% of wealthy families lose their wealth by the second generation, and a stunning 90% by the third, according to the Williams Group wealth consultancy.

Strengthening your ties with your clients and their families greatly improves your chances of retaining their assets and guiding the next generation toward financial success. With the right approach, a tough time of loss and transition does not have to include a family’s transition away from you as the trusted advisor.

A great way to begin building trust with a client’s family is to play a key role in educating and involving them financially. Start by getting the client on board. Explain the importance of educating loved ones to empower them for future success. This is an important step in protecting the client’s hard-earned legacy.

Encourage your client to schedule a family meeting or initiate an introduction. Once you meet the family and get their contact information, you can begin educating them and building those relationships. Using Finworx tools, such as our survey, email automation, and original educational material, is a tactful way to gain insight on each family member’s interests and preferences.

That way, when the day comes that the client’s assets are passed along to the next generation, not only have you already made a personal connection with the family, but you already know how to meet their needs and offer unique value.

Focus On Retention & Referrals

Aside from our lead nurturing emails, all the pieces in our library are geared toward retention and increasing client satisfaction. Our material speaks to investors in a way that is highly relevant and personalized, showing each unique client that you see them as an individual and care specifically about their needs, risk preferences, and communication style.

Not only is our content original, persona based, and white labeled, but every piece is truly top quality—expertly researched, written, and designed—making it perfect for sharing. By empowering your clients with quality educational content, you build your thought leadership while inspiring them to share their newfound knowledge with others.

As your clients share your branded messaging—whether it’s on social media, email, or the local golf course—your expertise gains wider recognition and credibility.

The next thing you know, you’ll be getting contacted by new leads who just happened to click on a friend’s Facebook post and read something that resonated.

But, what about direct referrals?

We know it can be awkward to ask clients for referrals. But typically, engaged and satisfied clients will want to help you grow your business, especially if you make it easy for them. (That’s where we come in!) The Finworx library features carefully crafted, tactful messaging designed specifically to generate referrals without seeming pushy or unprofessional.

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