5 Tools Financial Advisors Can Use to Grow Your Practice in 2019

How do you grow your practice in 2019? I just had a great conversation with a financial advisor who wanted to know what new ideas I had for growing his practice in 2019.  I guess he thought a hip and cool guy like me must know something he didn’t. I do, and I plan to help you grow your advisory practice in the coming year.

I shared five timeless business development tools that can help you grow your practice in the coming year. They are not high tech or sexy but if you master them in 2019 you will have your best year ever and continue to grow year after year.

These are in order of their effectiveness. Today I share them and then over the next four weeks I’ll share with you how to grow your practice in 2019! None of them are exactly new but I add a new twist on some old sales tools. My clients call them Tripp’s flips and they help my clients make more money in less time.  Once relearned they can help bring you joy to a job that sometimes seems very hard.

Grow your practice by getting good at getting and giving referrals.  Sounds easy, doesn’t it? Look at your current client base.  Who are your best clients? Where did they come from? I mean besides your family and friends. Who are the clients you serve best?

What do they have in common? I bet over 50% come from referrals.  If this is true, why do you spend so little time developing a referral system?

Grow your practice by digital prospecting. Most advisors I talk with hate cold prospecting. You shouldn’t have to do it. My current clients should produce the revenue and growth I need.

The challenge is many of the clients you invest your time in don’t have the capacity to take your practice to the next level in 2019.  You need 100 more like them to achieve your goals. Is that practical?

Grow your practice by cultivating stronger centers of influence and partnerships. When was the last time you spoke with one of your strategic partners? You know, the ones that introduce you to great potential clients.

Why don’t your key partners provide the clients you need? When was the last time you introduced a partner to a potential client? I bet it been awhile because you’ve so busy.

Grow your practice by speaking and writing. Have you ever considered how you could get in front of your best clients more often?  When was the last time you gave a speech to your best potential clients?  When was the last time you wrote for a blog or newsletter?

What could you share with them that could help transform their lives? Do you know how to leverage your knowledge to grow a community? How do you earn the right to be in front of these potential clients?

Grow your practice by becoming a stronger leader. Want to stand out in a crowd? What would it take for you to be a leader in your community? Is it something you can learn or are you born with it? I bet I can help you become a more powerful leader leveraging your own strengths, gifts, and life experiences. What if I could share with you how to become a serving leader that people look up to and respect in your family, business, and community?

Stick around for the next several weeks and I will help you put together a plan that helps you grow your practice in a way that you may not have thought possible. It will help you grow your practice in 2019 and beyond. See you next week.