Most clients don't pick their advisors out of the phone book as if they were ordering a pizza. They get recommendations, listen to advisors in action and learn about their expertise through seminars and articles. Growing your client book takes more effort than simply running a radio or newspaper ad. Building trust and establishing relationships are the keys to growing your business. Here are four ways to build your revenues:

SEE: 5 Services To Usher In New Clients

Existing Clients

The best way to bring in new clients is through your existing ones, for a number of reasons. Your current clients know you and most likely have a good sense as to whether their friend or associate would be a good fit with your business. They are also likely to send you clients who are much like themselves. This means that, if you keep your current client list clear of whiners and late-payers, good clients will bring in more good clients. It's important to let your clients know that you are looking for new business, rather than assuming they already know. Send out an email or a letter asking your clients to refer new clients to you. Give them a few of your business cards or brochures to hand out, to make the referral process easier.

SEE: How To Get Referrals

Indirect Promotion
Selling yourself and your business through ads and fliers will be less successful than a more subtle, but effective, approach. Show prospective clients you know your stuff by writing letters to the editor of your local newspaper about issues in your field. Instead of advertising on the radio or television, pursue interview opportunities where you can show off your knowledge and experience. Host charitable events and get your name out in the community. All of these actions allow potential new clients to see how you operate and see what you're all about, before they commit to signing on.

SEE: 7 Popular Marketing Techniques For Small Businesses

Speaking Engagements
Speaking to crowds is another effective way to let potential new clients know that you have expertise in financial planning. Chambers of Commerce, other businesses and civic organizations often look for event speakers for their meetings and expos. Create a list of topics that you feel comfortable speaking about and then call around to find opportunities to speak. If you have never spoken in public before, practice beforehand or even join an organization like Toastmasters, to get experience and build your confidence. At every speaking engagement, make sure to leave lots of time to speak with participants afterwards and be sure to bring business cards.

SEE: 6 Jobs Where Your Mouth Makes Money

These days, having a website for any business is a basic and important way to present yourself and your company to the public. A website allows potential clients to find out more information on who you are and what services you offer, without having to endure a sales pitch, as they would if they were to call you directly. Your website should be more than just an electronic version of your brochure; it should provide lots of helpful information, along with the sales pitch. Provide articles on financial topics in the news and other hot button issues. You can also set up an electronic newsletter that readers can sign up for if they're interested. If you are not an experienced web designer, this is one area where it makes sense to hire a professional to match the quality of the site with the quality of your work.

The Bottom Line
Building your client base takes time and requires establishing trust with potential clients. The side benefits of using indirect methods to do this are that they cost substantially less than in-your-face advertising and are infinitely more effective.

Related Articles
  1. Professionals

    The Best Schools for Financial Planning

    Among the best universities for financial planning are the University of Georgia, Boston University, The College of Financial Planning, Texas Tech, San Diego State, Baylor, Fairleigh Dickinson ...
  2. Economics

    The 6 Industries Driving New York's Economy

    Learn about the six most influential industries in New York, the most economically productive city in the country, and home of Wall Street and Fifth Avenue.
  3. Professionals

    Career Advice: Financial Planner Vs. Stockbroker

    Read an in-depth review of a career as a financial planner as opposed to a career as a stockbroker, including how to decide which is best for you.
  4. Professionals

    Tapping Mind Maps for Better Financial Planning

    Here's how to use mind maps to better assist your financial planning for clients and, ultimately, improve your business.
  5. Home & Auto

    Before you Buy That Home: Find a Great Realtor

    Most people think of a good realtor as a successful salesperson, but we should not assume than that's what makes a great or even a good realtor.
  6. Mutual Funds & ETFs

    ETF Analysis: Vanguard Intermediate-Term Corp Bd

    Learn about the Vanguard Intermediate-Term Corporate Bond ETF, and explore detailed analysis of the fund's characteristics, risks and historical statistics.
  7. Term

    Is A Robo-Advisor Right For You?

    A robo-advisor is an automated service that provides algorithm-based portfolio management.
  8. Term

    What is Financial Technology?

    Financial technology, or fintech, is a financial services sector that emerged in the 21st century.
  9. Professionals

    'Man Up': 3 Tips for Working with Male Clients

    Male clients aren't always financially literate. Here's how advisors can meet their needs.
  10. Investing Basics

    Brokers and RIAs: One and the Same?

    Brokers and registered investment advisors have some key differences. Here's what you need to know.
  1. Do financial advisors work only in banks?

    While the majority of financial advisors work for financial institutions such as banks, a large proportion of them are self-employed ... Read Full Answer >>
  2. What are the benefits of financial sampling?

    Financial sampling allows auditors to approximate the rate of error within financial statements. For accounting purposes, ... Read Full Answer >>
  3. What are the differences between a Chartered Financial Analyst (CFA) and a Certified ...

    The differences between a Chartered Financial Analyst (CFA) and a Certified Financial Planner (CFP) are many, but comes down ... Read Full Answer >>
  4. How do I get started with a career in asset management?

    The asset management industry has a variety of different career paths. Depending on what asset management area you would ... Read Full Answer >>
  5. How do I attract high net worth individuals (HNWI) as clients at my financial advisor ...

    While the majority of financial advisers provide wealth management and comprehensive financial planning to a wide range of ... Read Full Answer >>
  6. What developed countries have the highest concentration in the banking sector?

    The developed countries with the highest concentration in the banking sector, as of 2015, are the United States, the United ... Read Full Answer >>

You May Also Like

Hot Definitions
  1. Capitalization Rate

    The rate of return on a real estate investment property based on the income that the property is expected to generate.
  2. Gross Profit

    A company's total revenue (equivalent to total sales) minus the cost of goods sold. Gross profit is the profit a company ...
  3. Revenue

    The amount of money that a company actually receives during a specific period, including discounts and deductions for returned ...
  4. Normal Profit

    An economic condition occurring when the difference between a firm’s total revenue and total cost is equal to zero.
  5. Operating Cost

    Expenses associated with the maintenance and administration of a business on a day-to-day basis.
  6. Cost Of Funds

    The interest rate paid by financial institutions for the funds that they deploy in their business. The cost of funds is one ...
Trading Center
You are using adblocking software

Want access to all of Investopedia? Add us to your “whitelist”
so you'll never miss a feature!