How To Re-Connect and Book Appointments with Past Prospects

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Equities are down. Investors are worried. Along with the market, your AUM fees have decreased. If you are like most advisors, you are playing defense, trying to preserve your client base and AUM. You are apprehensive about spending money to buy leads, investing in seminars and allocating money to SEO. Even referrals have dropped off.

It is easy to be paralyzed during downturns and do nothing but watch your AUM fees dwindle. In the great recession of 2008, 72% of advisors avoided calling clients for fear of losing them. Ironically, 82% of clients during that period were looking for a new advisor relationship because of lack of contact. The bear market of 2022-2023 is a repetition of 2008.

You will lose clients and fail to gain new ones unless you make dramatic changes right now.

Past prospects didn’t hire your competitors: They did nothing.

You were stalled. That prospect who said they wanted to think about it never called back. You tried to connect but soon gave up. Lost prospects didn’t go to another advisor. They did nothing. Their mistake resulted in a dramatic drop in retirement savings.

But there is hope. You can reconnect and get another shot. You can get back prospects who once stalled you. But you have to get past the notion of continually searching for new prospects. You can reach out successfully to past prospects. You also need to dissuade yourself from the notion that clients do business because of your competency and financial planning skill. Gaining and keeping clients is much more than that.