Post on 30-Jun-2020
THIS MATERIAL IS FOR INSTITUTIONAL/BROKER-DEALER USE ONLY. NOT FOR DISTRIBUTION OR USE WITH THE PUBLIC.
Acquiring significant net new business through strategic messaging and branding
It’s more important than ever to be able to clarify and
communicate what makes you different and the value you bring
so that your personal brand stands out and becomes even more
compelling to prospective clients. The solutions are surprisingly
simple, inexpensive, and easy to implement.
This program is designed to define specific strategies and solutions for new business development, including:
¡ Acquiring significant net new business from clients and strategic
alliances through the use of strategic messaging and social media
¡ Articulating clear brand differentiation
¡ Delivering a compelling and memorable core story
¡ Developing consistent strategies to sustain your growth trajectory
COMMUNICATING YOUR VALUE
Research shows that new business acquisition is directly affected by a financial advisor’s perceived value in the marketplace.
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Understanding the big picture
The bullish facts
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The bearish reality
¡“New net assets reverse course.”1
¡ Only 25% of advisors exceeded new business goals in 2014.2
¡ 91% of advisors don’t believe their business development efforts are effective.3
1 Research Magazine, 9/14/14.
2 2014 Drivers of Business Growth study, FPA Research and Practice Institute, 2014.
3 “Financial Advisors Miss the Mark on Business Growth Goals: FPA,” ThinkAdvisor, 11/18/14.
Who are today’s high-performing advisors?
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What are high-performing advisors doing to grow AUM?
¡ Conducting seminars and events ____ %
¡ Networking ____ %
¡ Networking online ____ %
¡ Growing strategic alliances ____ %
¡ Gathering client referrals ____ %
Define your brand differentiation
What do these brands say?
¡ Volvo: __________________________________________________________________________________
¡ Porsche: ________________________________________________________________________________
¡ The Ritz-Carlton: __________________________________________________________________________
What are people saying What do you want people about you? to say about you?
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What do your clients and prospects value most?
Source: The VIP Forum’s Survey of High-Net-Worth Baby Boomers, The VIP Forum of the Financial Services Practice, 2010.
Corr
elat
ion
to c
lient
s’ s
hift
in a
sset
s he
ld w
ith
advi
sor
STRONG
WEAK
TECHNICAL EMOTIONALType of skill required
¡ Looks out for my best interests
¡ Motivates me to take action
¡ Understands the needs of those in my situation
¡ Straightforward about fees
¡ Can explain how products and services can help
¡ Easy to get along with
¡ Will disagree with me
¡ Is responsive
¡ Knows a great deal
¡ Has experience
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3
Niche differentiation doesn’t mean only one niche. Who/what do you work with?
Doctors
Corporations
Executives
Foreign nationals
Specific industries
Baby boomers
Generation X
Generation Y
Women
Minorities
Remarried individuals
Divorcées/divorcés
Retirees
Career development
Widows/widowers
Alternative investing
Charitable giving
Legacy planning
Other ____ ____ ____ ____ ____ ____ ____
Other ____ ____ ____ ____ ____ ____ ____
Source: “Niche knack: Looking to grow, advisors start to specialize,” Deborah Nason, CNBC, 9/2/14.
Who you work with may be your most memorable and powerful differentiator.
Notes
Source: “Niche knack: Looking to grow, advisors start to specialize,” Deborah Nason, CNBC, 9/2/14.
What is the benefit you bring?
Feature:
The connector statement:
Benefit:
Message builder value stool
Simple:
Repeatable:
Differentiated:
Notes
“Let me tell you why this may be important to you.”
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5
Simplify your core storyPerceived value is real value
¡ Your value is defined by your story
¡ What are your clients paying for? What will your prospective clients be paying for?
Your core story
%
% % %
FUNNEL 1 FUNNEL 2 FUNNEL 3
Building your core story
FUNNEL 1
__________________________________________________________________________________________
Services offered: _____________________________________________________________________________
Knowledge and expertise: ______________________________________________________________________
Preparation and people involved: _________________________________________________________________
Benefits to clients: ____________________________________________________________________________
Most important deliverables of value:
__________________________________________________________________________________________
__________________________________________________________________________________________
__________________________________________________________________________________________
Is this valuable? ____________________________________________________________________________
FUNNEL 2
__________________________________________________________________________________________
Services offered: _____________________________________________________________________________
Knowledge and expertise: ______________________________________________________________________
Preparation and people involved: _________________________________________________________________
Benefits to clients: ____________________________________________________________________________
Most important deliverables of value:
__________________________________________________________________________________________
__________________________________________________________________________________________
__________________________________________________________________________________________
Is this valuable? ____________________________________________________________________________
FUNNEL 3
__________________________________________________________________________________________
Services offered: _____________________________________________________________________________
Knowledge and expertise: ______________________________________________________________________
Preparation and people involved: _________________________________________________________________
Benefits to clients: ____________________________________________________________________________
Most important deliverables of value:
__________________________________________________________________________________________
__________________________________________________________________________________________
__________________________________________________________________________________________
Is this valuable? ____________________________________________________________________________
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7
Get the word outHow do you use social media?
Building your brand
Researching/finding new clients
Communicating with colleagues and peers
Sharing content with clients
Researching products
Communicating with clients
Communicating with asset managers
Get personal and be specific
80% of the reason someone chooses to work with you is you.
Who are you? _______________________________________________________________________________
What do you specialize in? _____________________________________________________________________
Who do you work with? _______________________________________________________________________
What are you passionate about? _________________________________________________________________
LinkedIn—tell your personal story
What does your profile say? _____________________________________________________________________
Why did you get into the business? _______________________________________________________________
Why are you still in the business? ________________________________________________________________
Three reasons why strategic alliances don’t work
Wrong professional:
Wrong firm:
Wrong message:
NotesThe litmus test of successful interactions with strategic alliances occurs when they say, “I’ve got someone you need to see.”
Strategic alliance organizer
Research and prepare a thoughtful and impactful message.
Strategic alliance 1
Strategic alliance 2
POTENTIAL CONNECTION
BACKGROUND INFORMATION
REMARKABLE
NETWORK CONNECTORS
NEXT ACTION
NEXT MEETING
William Richardson
WR & Assoc CPA
Chicago, IL
312-555-1212
wr@emailaddress.com
www.website.com
Northwestern alumni
Wife—Josephine
Two children
Golfer
Hunter
Active in the United Way
Chaired an event for the
United Way and was on TV
promoting the event on every
station in Chicago on 2/1/10
1. David Aniston
(Bill’s college friend)
2. Joe Maxwell
(involved in the United Way)
3. Diane Ranier
(president of AICPA/Chicago)
Contact network connectors
to get an introduction
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Take action!
Now it’s time to take what you’ve learned and apply it to your practice
Thank you for joining us today!
1 Identify your simple differentiator and core story
2 Expose your personal value to your niche(s) and referral sources
3 Meet with your John Hancock Investments Business Consultant
Notes
10
John Hancock Funds, LLC Member FINRA, SIPC601 Congress Street Boston, MA 02210-2805 800-225-6020 jhinvestments.com
NOT FDIC INSURED. MAY LOSE VALUE. NO BANK GUARANTEE. NOT INSURED BY ANY GOVERNMENT AGENCY.THIS MATERIAL IS FOR INSTITUTIONAL/BROKER-DEALER USE ONLY. NOT FOR DISTRIBUTION OR USE WITH THE PUBLIC.MF21333 CYVWB2 2/15
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