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Financial Advisor Marketing – How to Avoid Missing the Boat to Affluent Womenville

Financial Advisor Marketing – How to Avoid Missing the Boat to Affluent Womenville

Recently, on a cruise to Cozumel, the crew shared that there are always a few guests who miss the boat after stopping at port. While you may not believe this could happen at every port, the crew assured us it was the truth. Interestingly, the same thing happens with financial advisors who want to work with affluent women. As hard as that is to believe, some financial advisors just don’t realize that they need to approach affluent women differently if they want to get the results they desire.

A dramatic illustration of this are the studies that show that after the death of the first spouse, up to 98 percent of widowed affluent women will fire their financial advisor. Amazing — 98 percent! Why is that? Affluent women need different things from financial advisors than affluent men. The great news is if you take the time to learn a few simple techniques to better serve your female clients, you can be rewarded with an entry into an extremely lucrative niche market.

Ask-learn vs. tell-respond

Top financial advisors take the time to listen and ask questions, understanding that it’s the best way to improve their skills and grow their practices.

Top financial advisors listen to their affluent clients (not the chronic complainers who should be terminated or referred elsewhere) in order to really understand what they need. Top financial advisors also ask questions — in a non-intimidating way — of people who fit their profile of an “ideal” client, centers of influence (COI) who service their niche market, and other successful people they want to emulate.

When starting out as a financial advisor, it’s easy to ask questions because there’s so much we don’t know. But …

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