by Deepak Patel
“If You Are A Financial Advisor & Wealth Manager Looking To Get HNW Clients & Increase AUM (Asset Under Management)…This Will Be The Most Important Article You Will Ever Read”
Before I show you all you need to know about the HNW individuals, let’s do something your competition is ignoring.
Let me show you what is the number one reason you are struggling to get clients…
It’s NOT Because You Charge High Fees!
It is in fact stupid to charge less fees to your clients. Now it does work for companies like Walmart who’s main marketing message and mantra is “save money live better”
But what you need to ask yourself is: Do you want to be Walmart or a Premium brand?
I bet you want to be “Premium” after all you are reading an article about High Net Worth Individuals…
HNW DEMANDS premium (nothing less)!
So most Financial Advisors never attract HNW clients because while they have this desire and dream to find and serve HNW clients…
Deep down their own behaviour is quiet low…
Here are some real practical example of such behaviours when it comes to prospecting and getting clients…
MISTAKES Financial Advisors make…
This Results in Financial Advisors struggling to get quality clients…with NO predictability
So now that you know the mistakes you may be making…let’s talk about
Who are HNW (High Net Worth) Individuals?
HNW are individuals that has high liquid financial assets and generally have complex financial needs
Following are some categorization of HNW
Affluent or Sub-HNW: $100,000 to $1 Million
HNW: $1 to $5 Million
very-HNW: $5 to $30 Million
ultra-HNW: $30 Million and above
Where can you find HNW (High Net Worth) Individuals?
The World Wealth Report 2018 published by Capgemini gives a good view on where the HWW lives
Following are the regions in the order:
Total (globally): 18.1 Million Individuals…
Now thats a lot of people and it grew by 9.5% last year, which is a big rate of increase
So now that you know how many HNW individuals are there in the world…
You must be wandering…
What do HNW (High Net Worth) Individuals Need?
So here is some good news…and the REASON whey every Financial Advisors dreams of getting HNW clients…
HNW are willing to pay higher FEE for premium service
Here are key requirements of HNW
So as you can see there is a lot of opportunity to help HNW in their future planning and something all Financial Advisor must focus on..
So now you must be having the Million Dollar Question…
How to Find HNW (High Net Worth) Individuals?
So there are 2 parts to this question..
#1 is where can you find HNW individuals?
#2 (more important) how can you grab their ATTENTION?
The old way of finding HNW clients is to go after the #1. This is when you spend time joining elite clubs, going to high end charity events, arranging high end events, etc.
These strategies don’t work these days but even if it does, then you still need to be able to do #2 which is get attention?
So this is where the Top Advisors, one who are crushing, focus on…
Grab Attention…
Luckily technology and marketing has advanced so far that it is easy TODAY than ever before to do this (if and only if) done correctly…
Now there are literally 100s of different ways to do this from marketing stand points but here is a big picture view…
You will GRAB HNW Attention but Speaking Directly to their Problems…
Think about it…these HNW individuals are always worried about something that is bothering them…
If you can put a MESSAGE that resonate (key point) in front of them…
And offer then some Insight, Education and Solutions…
You will GET Them…
One easy way to do that is using Social Media such as LinkedIn and Facebook
Identify -> Craft a Message -> Offer Insight -> Ask For Contact Info -> Follow up To Get Appointment -> Present Your Solution -> Close
If you can demonstrate that you understand their Pain point and Problem and has the best Solution…They will work with you hands down…
Good news…HNW individuals are busy making money and running their businesses and empire…
So the faster your can solve their problem the better…
Take TIME out of the Equation…reduces your Sales Cycle so its a Win-Win on both end…
There’s A Sneaky “Hidden Reason” I Wrote This For You.
The first (and primary) reason was to help you learn about the HNW individuals and provide some insights…
If you follow these strategies, you can instantly identify some opportunities so you can grow your practice.
The second purpose of the article was to get you to say, “Cool! This makes sense! I can see how this would work. Tell me more!”
And if that sounds like you,
Here’s Something You’ll REALLY Like!
I have put together a FREE Case study for Financial Advisors and Wealth Managers
“How To Generate 10-30+ HNW Prospect Leads & Qualified Meetings Every Month With Predictability and Automation”
Free Case Study reveals…
The case study video is 20 minutes long and will be a game changer for your Financial practice
Here’s How To Get This, FREE.
First, go here and request it.
Just enter your email address where to send everything and it’s yours.
Like, I said, there’s no cost.
So if you’d like to generate HNW client leads and book appointment every month with predictability down to dollar and day, get this free case study here…
Sincerely,
Deepak Patel
PS: In case you’re one of the people (like me) who skim to the P.S. before your read the page, here’s what this is about:
Deepak Patel
I help Financial Advisors, Planners, RIA and Wealth Managers Get Clients With My Advisor Algorithm Program
If you need help then get my FREE case study video here and let's talk.