Prospecting for new financial services clients has never been easy. But today’s tough economy makes it even harder, at the same time as asset-based commissions and fees drop with the market.
What’s an ambitious financial advisor to do?
You probably know that fear is an even more powerful motivator than greed. So why not find what your prospects are afraid of, then find out how to ease their fear?
Your best clients and prospects are terrified about rising taxes. So why not use their fear to build your business?
Certified Tax Coaches are trained how to find the mistakes and missed opportunities that may be costing business owners thousands today, then show them how proper tax planning can rescue those lost dollars.
All you have to do is reposition those dollars into the insurance and investments your new clients need to round out their financial plans.
Certified Tax Coach has always been a great tool for opening financial planning cases. That’s because tax planning offers immediate and measurable benefits in a way that nothing else in financial planning does. You can sell a client a disability policy and hope they never need it. You can restructure their retirement portfolio with separate managed accounts, ETFs, or any other investment vehicle, and it can take years for your superior asset-allocation and portfolio-management skill to pay off.
But if you show your client how to use an S-corporation to minimize her employment tax, you’ll put cash in her pocket. Right now. If you show her how to use a Section 105 plan to write off her LASIK surgery as a business expense, you’ll put cash in her pocket. Right now!
For that reason, we’ve always urged our members who offer financial services to focus their prospecting on tax-planning. It delivers the immediate and measurable benefit we just discussed, and it distinguishes them from the majority of financial services providers who lead with “me too” marketing and bland promises like “better service” or “bigger organization.”
But what if you don’t offer financial services? You can still profit by using Certified Tax Coach to network with financial advisors who would love for you to create the tax savings they can reinvest for their clients.