Other books have claimed to help readers build a lucrative financial services practice…but it was The Million-Dollar Financial Services Practice that provided ambitious financial advisors with a step-by-step, tactical process proven to work. The second edition is updated throughout and contains new strategies for acquiring affluent clients and assets by providing Wealth Management services, using social media and “Alumni Marketing,” targeting successful realtors as clients, and much more.
Using the method he has taught at Merrill Lynch and is famous for in the industry, author David J. Mullen, Jr. shows how anyone—no matter where they are in their career—can get the appointment, convert prospects to clients, build relationships, retain clients, use niche marketing successfully, and increase the products and services each client uses.
Packed with templates, scripts, letters, and tried-and-true Market Action Plans, the book provides readers with the tools and guidance they need to take their financial services practice to the million-dollar level and beyond.
Table of Contents:
CONTENTS
Acknowledgments ix
PART 1
THE FOUNDATION 1
Introduction 3
1. The Concept Behind the Process 7
2. Motivation 13
3. The NumbersYou Need to Succeed 21
4. Niche Marketing 28
5. Getting the Appointment 37
6. The Appointment 52
7. Turning Prospects into Clients 63
8. Time Management for New Financial Advisors 79
PART 2
TAKING IT TO THE NEXT LEVEL 89
9. Balancing Clients and Prospects: The Next Step 91
10. Wealth Management 97
11. Getting More Assets from Existing Clients 119
12. Leveraging Clients to Get New Ones 125
13. Expanding the Client Relationship 140
14. Your Natural Market 151
15. Client Retention 161
16. Time Management and the Client Associate 169
17. Teams 178
18. What Millionaires Need 189
19. Beyond a Million-Dollar Practice 199
PART 3
MARKET ACTION PLANS 211
20. Seminars 213
21. Event Marketing 221
22. Marketing Through Social Media 227
23. Networking 239
24. Past Experience and Personal Contacts 248
25. Adopt a Town 255
26. Business Owners 259
27. Realtors 266
28. Executives 270
29. Influencers 279
30. Alumni Marketing 285
31. Retirement Plans 294
32. Retirees 301
33. Money in Motion 304
34. Nonprofits 310
Appendix 317
Index 333
