If you’re like most advisors, you didn’t get into this business to do marketing and sales. You became an advisor to help your clients meet their financial goals and ultimately improve their lives.
But as our industry becomes increasingly crowded, it’s more important than ever for advisors to master the art of prospecting – the process of initiating and developing new business by searching for potential clients.
And as a recent Wealth Management IQ Best Practices Research Study performed in conjunction with FMG indicates, it’s easier to grow a financial advisory firm in a rising market. During periods of volatility, like what we’ve recently experienced and will presumably continue to withstand in at least the near future, growth becomes more difficult.
Not only are potential clients less likely to enlist additional services when markets are down, but advisors themselves are more strapped for time than ever as they navigate the impact of the markets on portfolios and work to mitigate current client concerns.
The same research report points out that only 31% of advisory firms have dedicated, full-time marketing employees. With some advisors wearing nearly every hat in the company, it’s easy for prospecting to fall by the wayside.
That’s where BizEquity comes in. Using our powerful prospecting tool, advisors can effortlessly find, engage with and win new business owner clients. It’s a built-in marketing engine that enables advisors to expand their network and showcase their value immediately – in just three simple steps.
How does it work?
- Find your prospects. Our database contains over 33 million pre-valued businesses across the country. Using the prospecting tool, you can filter by industry, location, business name or estimated business value.
That means that whether you only want to work with businesses in Fort Pierce, Florida, or your firm has national capabilities but serves the precision agriculture industry exclusively, you can narrow your search to find exactly the types of businesses you’re looking for.
- Gather relevant background data. For each business, the BizEquity prospecting tool surfaces key insights you won’t find anywhere else, including:
- Business owner contact information (phone number, email address, physical address and web address, along with a data accuracy ranking)
- 401(k) benefit plan data, including plan name, plan assets, and total number of active participants
- An estimate of the business’s value
- Customize our outreach templates. To help you maximize the impact of the prospecting tool, we’ve created phone call and email templates to guide your outreach to each business owner. You can download and adjust these templates to align with your message and your firm’s unique value proposition.
We’ve found our advisors have tremendous success using the estimated business value generated by the prospecting tool as a jumping-off point to engage prospective clients. It’s an organic opener to reach out to a business owner and say, “I see your business has been pre-valued at $XXX. If you’re interested, I can run a more up-to-date valuation to help you better understand what your business is worth so you can make more informed business decisions.”
To learn more about the prospecting tool, watch a short video and request a personalized demo, click here!
