Know this one thing to dominate your market

About Hoard Client Systems CEO

Hoard Client Systems CEO's affinity for investing and financial matters began more than 20 years ago when he began investing in the stock market through a class in high school.  Now, in 2006, he is being looked to for his innovation in altering the efficiency in which financial professionals communicate with clients.

If you know and understand just this one thing you will be able to pluck your competitor’s best clients at will.  And you want your competitor’s best clients for two reasons:

1. They have money.  That’s why they’re your competitor’s best clients!
2. They like advisers.  They aren’t do-it-yourselfers since they currently have an adviser

****What is it you need to know?

In 4 different studies, the number one reason given for clients leaving their current adviser was “lack of contact.”  It was mentioned over 80% of the time.  Lack of service was mentioned about 40% of the time but listen to this!  Lack of return was only mentioned between 13% and 18% of the time.

People assume that if you are an advisor that you are competent. What they do not assume is that you care about them.  We all know the old sales adage:

People don’t care how much you know…

In CEG Worldwide’s study of 512 advisors and their 1,417 clients they found that, on average, in order to receive more than 10 referrals from your client in a year you need to contact them 24.1 times a year about NON-FINANCIAL things. What does non-financial mean?

What does the girl think you are interested in?

If all your contacts with your clients are about money, what does the client think you are only interested in?  That’s right, their money.  If however, most of your contacts are about them and how they are doing, what does the client think you are interested in?  That’s right, them!

·         If clients want contact

·         Their guy only contacts them once or twice a year

·         When he/she does contact their client it is always about their money

·         Client knows they are not valued as people but as a paycheck

·         Client not getting the amount or type of contact they want from their adviser

·         #1 reason people leave current adviser is lack of contact

·         You are contacting them in ways that show that you care about them as people

·         You inherit your competitor’s best client

·         You laugh all the way to the bank

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As Seen In...

• The Wall Street Journal
• Investment News
• The Wall Street Letter