How Financial Advisers Gun for New Clients

Read the part about what advisers say is their "top priority."

From Smart Money Magazine online:

Forget the tried-and-true sales methods of previous generations—glossy mailings, cold calls or maybe a ho-hum luncheon presentation at the Lions Club. In an effort to grab a larger share of the more than $10 trillion that Americans have invested through financial professionals, the country's 325,000-plus advisers are employing a range of clever, pricey or just plain over-the-top tactics to woo clients.

...call it all pricey and dicey prospecting. By many measures, advisers are increasing (or planning to increase) the time and money they devote to bringing in new clients—a big change from the days when many merely relied on referrals from existing clients to boost their practices. According to a 2010 survey by SEI, a consulting firm that works with more than 6,500 financial professionals,  

66 percent of advisers say growing their business is their top priority.

(By contrast, just 25 percent say they need to meet with current clients more frequently.)

Read more: http://www.smartmoney.com/investing/stocks/financial-advisers-how-they-gun-for-new-clients-1301589329613/?page=all 

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