Master the HNW Close Every Time!

To be a successful Wealth Advisor, 80% of your fortune will come from your ability to market yourself and close lucrative High Net Worth (HNW) clients. In the long run, a thriving Wealth Advisory Practice can be built with as little as twenty-five High Net Worth families. But the real secret is having an incredibly efficient selling approach, your personal secret sauce. Every professional at any stage of their marketing career must have a system that is unique to their style, their clients and their offering. Having an approach that you can rely on will give you an undoubtedly massive advantage, the truth is that most marketing professionals are constantly trying to customize their approach to fit every prospect and even though that may sound sophisticated, it is a great time waster. Over time the pros realize that most of their clients share similar pain points and understanding what these are is often the first step in being able to be relevant. 

The 6 step approach that works every time.

Identify Great Leads

The lead generation step is probably the most overlooked, and most marketers see lead generation as a trivial exercise. For many Advisors, the lead generation is seen as simply acquiring a Name with contact details, some may even feel that this step is perhaps the least important. Often lead generation is done via the acquisition of some kind of a trade directory and then the names in this directory are bombarded with mostly irrelevant fluff that the prospect simply do not response to or worst get annoyed by it. If you want to bring efficiency to your marketing the Lead Generation is a Critical step, if you are marketing to the right people, who have a problem that you can solve they will respond to you.

Finding prospects must be done with intent, you must take time to find the right people. So who are the right prospects for you, well this is where it is important to have a great understanding of your business, your clients and the type of business you would like to create? First create a profile of your ideal client, then for every prospect you add to your list, determine:

  • Are they right your business, can you solve the problem they have, what would it be like to deal with them, how much of your resources will be required
  • Are they right for you, do they have an ideal profile that matches your clientele, how about their attitude, if they are going to be a client for a long time would you enjoy dealing with them
  • Are they a good business proposition, would this prospect be a worthwhile endeavor, would the resources required to service this client equate to a profitable relationship with your practice.
  • Are they a fit for your organization and staff.


Articulate Their Unique Problem

The most successful business people are those who have a clear understanding of the needs of their markets and that of their individual customers.

  • What are the root problems your clients need solving?
  • Do your clients hire you to create wealth or protect wealth?
  • Are you are a custodian of assets, responsible for the preservation of a multi-generation fortune. Or are you tasked with creating a families weatlh.
  • Find the issue that are most pressing where you can add the biggest value.

Solve their Problem

Problem solving is a unique skillset, take the time to understand the real issues being presented to you and offer a methodical solution. Do not assume that every client will fit into the same mold, be flexible and be prepared to offer customisation in your offerings. But most of all, listen to what they are saying. Your solution must be seen as a

Pitch your Ultimate Solution

Be human in presenting your solution to your audience, use simple everyday analagies and real life examples in your explanation. Remember your prospects disire to trust you before comiting to deal with you, the more your prospects can relate to you, the easier it is to more the ball forward. Display brilliance by applying simplicity in your approach, your customers hire you to solve specific problems that are important to them, so they are not interested in the mechanics of how your spreadsheet works.  In your presentations always stick to a theme of less is more. Do not try to try to present many solutions to many problems, focus on the one with the biggest pain point. Add big value, if you have the ultimate solution for your customers biggest problem, your probability of winning is enormous.

Close With Gusto

As a professional, you must demonstrate the fact that you are great at problem solving for many others like them, its ok to make reference to similar cases, similar clients, without naming names of course. Offer a show of gratification to your prospect when the make a committment to work with you, it will go a long way to getting you into their circle. People love dealing with professionals who are humble.

Rinse & Repeat

Once you’ve developed your approach, you will have an edge, most Financial Advisors are not organized, having a process and discipline is a massive advantage. When you problem solve instead of pitch products, clients see big value.


Image source - Pixabay
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