ProspectMatch Delivers New Clients Fast

“The prospectmatch program has helped me build a local mailing list…so far it has… resulted in one new client, a good one. That client has given me one referral……who
has (also) become a very good client.”
— John, Plymouth, MI
Gain New Clients Quickly, call ProspectMatch 866-452-8354
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ProspectMatch Expand Your Business

Expand Your Business – Hire a Great Assistant

This is a great time to hire an assistant or add an assistant because you can get some great quality people that have been laid off by an insurance company or securities firm. Here are the steps:1. You write out a description of what you want:
Expanding financial planning firm needs service assistant with 2 years experience in an investment or insurance sales environment.  You need to know how to read investment and insurance statements and handle incoming client service inquiries. Must have pleasant phone manner and good phone voice to set client appointments.  Must be super-organized.  Must have very good knowledge of MS Office and facility working with PCs (you will take a short quiz). Please email resume with salary history to
Place this advertisement in your main daily newspaper, in Craigslist at (if it operates in your area) or other local on-line job board.

2. If the assistant will be doing a lot of phone work, don’t ask them to just send a resume.  In addition, in the advertisement say “call this number.” The number is a voice mail line and here’s the message you record:
“Thank you for calling about the assistant position at our firm.  It’s a great atmosphere with great benefits.  At the tone, please leave the following information:

a. What work you are doing now
b. Why you are making a change
c. Any personal goals you want to accomplish in the next 3 years

Then, please email your resume to”
By having your prospects call a voice mail, you get to hear how they sound on the phone and call back only those with good phone presence.  You’ll be shocked at how many people call and hang up when they are asked to speak spontaneously.  And this saves you a ton of time because you spend time interviewing 3 people instead of 12.

3. Next, you call firms where this person may already work.
For example, if you are an insurance professional, you call each of the large insurance companies that have offices in your area.  When the receptionist answers you say “Hi, who is this?  Are you the regular receptionist there? Great. I am an independent insurance agent and I am looking to hire a top-notch assistant and pay them well.  Is there anyone in your office that has been thinking of leaving?”

If they say “no” or “I don’t know”, you then say, “Great. Does the issue of changing jobs ever come up among the people who are supporting the agents there?  Would you take my name and number and if someone mentions they are looking, would you pass it along to them?”  If you are in the securities business, you call the large securities firms and ask the same question.

There are plenty of people at large firms unhappy with the advancement potential or the bureaucracy or working for 4 professionals pulling them in different directions. They would love to have one boss in a small firm where they get respect and a decent salary.

Rent, Then Hire

Call the temp agencies in your town. Tell them what you are seeking.  They can often get someone for you under the following arrangement:
1 You will pay $25 an hour for this person.  If you want to hire them full time within 90 days, you pay the temp agency $3,000 and that person is yours.
2 If you rent this person for the entire 90 days, you can often hire them with no payment to the temp firm

This arrangement might be great for you because they have already screened people; you can check someone out for a week or two and get rid of them if they are not great or hire them if they are great.

Outsource Your Assistant

Instead of employees, you may want to outsource the support you need.  Visit or . These sites allow you to find independent contractors that work on their own so you don’t need to manage employees.  Many work for other financial advisors and insurance agents so they know and understand the business. If you need occasional work done, you can get projects done by listing your project at or

No matter which of the alternatives you choose, stop doing clerical work when your time is worth so much more.

This article contributed by Bob Richards, the marketing director at ProspectMatch.


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ProspectMatch Financial Advisor Clients – How Many Should You Have?

Is More Really More? Only You Know

Ralph and Diane were both successful financial advisors. Each had been in the business for about three years, had approximately 200 clients of various profiles, and were in the upper third of production among their peers. They’d hit the point of their careers though when they each asked the same question, “How many clients should I have?” And each came up with completely different answers.

How many clients should you have? When you first got in the business you were probably told to talk to anyone who would listen to you and open as many accounts as you could. And now you have a file cabinet (or two) full of accounts to service. So just like Ralph and Diane did, you need to think about how many clients you really need to make the greatest impact on your bottom line.

Look at Both Sides of The Spectrum
I know brokers who have over 1000 clients and run their businesses like well-oiled factories. Their offices are beehives of activity with secretaries, assistants, and para-planners running around. On the other side of the scale are advisors who have 35 well-healed clients with only one assistant and a low-key office environment. Now there’s nothing wrong with either type of operation. Both are very profitable with happy clients and principals.

Where Do You Want to Be?
Ralph is somewhat introverted. He’s not comfortable in front of groups, hates cold calling, and tends to appear aloof when clients first meet him. But nevertheless, he was able to build his business on referrals from clients who find him trustworthy and knowledgeable.

Ralph provides comprehensive financial planning, analyzes prospectuses, and makes sure his clients understand the advantages and disadvantages of each investment that he suggests. His problem was that he spent so much time with each client that he couldn’t meet with enough new prospects to expand his client base. So he had a choice to make: either hire another assistant or reduce the number of clients but expand the revenue from each one so he could increase his net income.

Diane on the other hand, is a flurry of energy. She frequently gives seminars, attends social functions, and greets everyone with a big smile and handshake. She gives her clients a prospectus, tells them this is what they need, and where to sign. Diane spends as little time as needed with each client so she can run off to the next appointment or seminar. She likes to be on the move and enjoys the diversity of her clients. But how would she find the time get to the next level of production? Like Ralph, Diane had to decide whether to upgrade the value of each client or enlarge the infrastructure of her business to handle additional accounts.

So where does your business fit? And more importantly, where do you want it to fit?

Which Camp Do You Fall In?
Ralph was comfortable with his small office and one assistant. He was willing to modernize his financial planning and investment analyzing software and pay for additional client management training for his assistant. This lead him to the conclusion to only work with clients who were willing to pay for financial planning services and have him manage their accounts for a set fee. Ralph went through each of his client’s files to determine whom he would keep and whom he would terminate.

When he was finished, Ralph ended up with 75 clients in the keep pile and 125 in the terminate stack. This was a difficult chore for Ralph. Many of his “terminate” clients had been with him since he first started, but he knew what he had to do to develop his ideal business.

Based on his typical financial planning and projected advisory fees per client, Ralph estimated that he would need 100 clients by the end of his fifth year in business to meet his income goal. At that time, he plans go through the evaluation process again and expand his practice or set minimum investment or annual fee requirements.

Diane took a different prospective. She didn’t mind working with small accounts and would make the investment to increase her support staff. So she looked at each client file and asked herself, “What are the chances of this client investing more money or providing good referrals?” Those with high possibilities were placed in the keep pile. The ones with minimal chances went to her terminate stack.

Diane’s keep pile totaled 130. She realized that many of those clients only had small IRAs or insurance policies, but they were loyal and made their investments every month without any work on her part. The other 70 got transferred to another local advisor with her broker-dealer. These included many of her struggling baby boomer clients with term policies whom she had to call every month to follow-up on their premium payments. And as far as any potential referrals were concerned, she decided that she most likely would not want to talk to anyone whom they knew anyway.
With that mind, Diane figured she would need 300 clients by the end of her fifth year to hit her goal. And as long as she could continue her marketing strategies and let assistants do the rest, she was confident that she would be successful.

How Will You Get There?
Don’t be timid about firing clients if you think they won’t be satisfied with your services or who can’t make decisions for themselves. Screen clients and prospects. Do you chase after every $3000 IRA account? It can take just as much work to get a $3000 account as it would to snag a $300,000 one. Sometimes more since the smaller account owner might need a lot more explanation that the larger investor.

Go through your clients’ statements. Use Ralph’s criteria to decide which ones fit your ideal profile. Or like Diane did, evaluate the chances of getting any additional business or good referrals from each account.  Set aside time to reflect on what you want your business to look like two years from now. Look objectively at your clients and your goals. Tough decisions today will reap better service for your clients, more referrals, and a higher level of income and career satisfaction for you.

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ProspectMatch Financial Services Marketing Made Easy

Insurance sales people tell us that insurance marketing, acquiring new clients, is their #1 challenge. But it’s ridiculous, as daily, thousands of individuals send checks to Fidelity, to Vanguard, to USAA, Prudential, Hancock, and other financial services companies that don’t even have a sales force. So why do these sales professionals have a problem getting new business when there isn’t any shortage of prospective buyers? It’s life insurance agents, annuity sellers, financial advisers, stockbrokers–they mainly chase after potential customers instead of pull them in, as the large businesses do.

Big organizations use an extremely uncomplicated marketing and advertising technique. They throw out bait such as an offer for a guide, “How to Rollover Your IRA” by running a full page ad in the NY Times. Over the next forty eight hours, they likely obtain a couple thousand orders for the guide. Now they have the couple thousand people today who are really interested in what they offer. Individual financial sales professionals, on the other hand, seek out men and women, prospects the professional has no idea are interested. They do everything from cold calling to networking to begging for referrals. But, the individual financial professional can instead use the exact same very efficient technique of the big firms.

You don’t need to have a large budget for successful financial services marketing. You just need to supply info documents like the substantial players do. For instance, take a look at the Sunday newspaper. You will likely see some big advertisements offering booklets like “Three Ways to Have a Worry Free Retirement” or “5 Mistakes to Avoid When Moving Your IRA.” Fidelity, Merrill Lynch and others get thousands of calls from motivated and engaged prospects. Why do you run after prospective customers instead of using the exact same technique of having prospects call you?

Instead of expensive print ads, you can use the Internet for really low cost. You can use Adwords pay per click advertising or run text ads on particular Internet sites. For example, doing a look-up on “Columbus Ohio Senior” revealed 6 websites that appeal to seniors in that city. This seems like an excellent place to run an ad for your guide “Pros and Cons of Annuities.” The prices for these ads ranged from $20 to 50 dollars per month– quite inexpensive. I started by own practice exactly this way with a $52 ad in a senior citizen newspaper advertising such a pamphlet. I was then talking to the serious men and women instead of using a shot gun method trying to contact anybody that would listen.

The prospect calls for your pamphlet. You send it. You follow-up in 2 days with a non-threatening phone call inquiring about the benefit of the guide. (Note that many professionals in financial services don’t know how to have a conversation that engages the prospect and that’s part of our training at ProspectMatch). You ask the right questions and have the prospective client reveal their curiosity or concern, what encouraged them to obtain the pamphlet. Should you have appropriate sales skills or talent, you are able to convert a substantial percentage of these inquiries into appointments. By the way, when I invited these individuals that ordered the booklet to my seminars, 33% showed up. Now you realize the best way to locate responsive prospects for a smaller investment. Now that’s not a hard method to do insurance marketing, is it?


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ProspectMatch Located in Concord,Ca has released “Practice and Time Management for Financial Advisors”


Concord, CA. ProspectMatch has released “Practice and Time Management for Financial Advisors”, a self study course that teaches advisors how to change their activities to produce far greater revenue.  “Advisors waste incredible amounts of time.  They work harder and just stay in place and they don’t know why.  Major culprits

  • not having a target market and dealing with too many different types of people
  • offering too many products or services
  • being distracted by their firm’s latest promotion
  • not knowing how to hire and screen good assistants or use virtual assistants
  • not distinguishing between their activities which produce high revenue and those that don’t,” says Bob Richards, VP of Marketing.


What makes this program different is that time management training typically focuses on how time is used and personal time use habits but the biggest time waster is when the business is organized incorrectly and the business strategy is poorly formed. This program focuses on the fundamental reasons that so much time is required to generate revenue and how the business can be restructured to make revenue generation efficient.


FOR FURTHER INFORMATION CONTACT:        Bob Richards at 866-452-8354 x 203


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Prospect Match New Financial Advisor – Networking for Clients

New Financial Advisor – Networking for Clients As a new financial advisor, you are desperate to get clients and should be. The failure rate of new advisors / insurance agents is high. Your desire to gain clients may emanate from your own internal motivation or the demands that your firm has placed on you. Many firms have quotas for the new financial advisor such as having $6 million under management by the end of year one. Or in the case of an insurance oriented firm, you need to write 50 life applications in your first six months. Regardless of the motivation, let’s look at how you can quickly meet your goals and success as a financial advisor newbie. I urge the new financial advisor to abandon networking as a means of gaining clients. While networking at venues like the Chamber of Commerce or other business groups is very nice and may pay off in the long term, it is far too slow for you to devote your time to now. You must devote your energies and focus to those types of marketing that have a very fast success cycle. Let’s look at some examples. Direct-mail If you send out 1000 postcards and get 10 responses, you will then have 10 conversations and this all happens within a 10 days. You potentially can bring on three or four new clients in a very short period of time. In effect, you use money to replace time. By investing in the postage and the printing, let’s call it $500, you’ve traded your money for an investment of your time, say in networking, that could have the same result but take 90 days. Mark these words–those financial advisors newbies who invest some cash in their business will likely succeed and those who attempt to save their way to success will fail. Be cheap now and you won’t have a career. If you have no money, then borrow some, like real businesses do. Seminars Similarly, if you send out direct mail to invite participants to a seminar, and you do it correctly, you have 30 people in the room, you give your presentation, and within three weeks you have five new clients. Again, this method utilizes some cash to accelerate time but any new financial advisor pursuing this will be an instant star that their firm. Advertising Similar to the direct-mail postcards above, you run the same message as a display ad in small town newspapers in your area. It works really well if you offer a free report or free financial booklet on a topic of interest. Again, you run your ad on Wednesday, 10 people see it and they call, you have conversations and within two weeks, a few new clients. Hopefully, you’re getting the idea that time is of the essence. As a new financial advisor, the first six months has to be about activities that will have an immediate payoff. You can worry about networking and branding and all those other issues once you have some success and stability and some assets under management and some clients. But to turn your attention to those longer-term payoffs now, would be foolish business. Another source of new clients for the financial advisor newbies can be reviewed at Prospect Match.

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ProspectMatch Financial Planning Professional Unlearned Lessons

Financial Planning Professional Unlearned Lessons

A decade or two ago, those who sold financial products and services realized that consumers did not want to be sold stuff. Around the same time, the Internet became a significant competitor to stockbrokers and insurance agents by offering $10 stock trades and term life insurance at rock bottom prices.  So the stockbrokers and insurance agents became “financial planning professionals” as a way to reposition the value they could deliver to the client. The new mantra was to “do financial planning” and in that manner, gather assets and make more sales.  The intent of these financial plans was selling product, but the financial planning approach was the soft sell solution to paint the sales person as a professional and not as a sales person.  In fact, Ameriprise has adopted this branding as their unique selling proposition: “we have more certified financial planning professionals than any other firm.”  In fact, these financial planning professionals continue to sell Ameriprise products and serve as conduits for product distribution.

However, the purpose of this article is not to address whether all of this planning is merely window dressing and question its value, it’s to suggest that there is even a “next level” of positioning that will assist the financial planning professional in their sales efforts.  In the current paradigm, the sale of the financial plan has replaced the sale of the mutual fund or the insurance policy.  But consumers don’t want a plan either.  A plan is abstract, a body of recommendations.  For the consumer, it’s not clear that this advice for a so-called financial planning professional will have any value.  In fact, there is evidence that it will not.  I had a financial planning professional admit to me last week: “over the last 10 years, my clients have earned exactly zero working with me.” What consumers want is not the plan but the potential benefits of the plan: an early retirement, more ways to financial pamper the grandchildren, the ability to take two nice trips each year, etc.  If you as the financial planning professional sell those payoffs, then you will find more consumers want the plan.  In fact, don’t even use the term “financial plan” when meeting with prospects.

Rather, you want to communicate that you are a “dream weaver.”  If you say you are a financial planner, that connotes someone who offers an activity but does not necessarily produce a result. A dream weaver makes dreams come true.  Your conversation with a prospect needs to focus on what they want i.e. What would you like your retirement to look like Mr. and Mrs. Smith? Of course, this starting question is to be followed with several other questions about how they want to spend each day, where they want to travel, how often do they want to see family, etc.   Once you know what they want, you make them an offer:

“Mr. and Mrs Smith, would it be worth $2,000 (or whatever you charge for a plan) to you to have answers to how you will:
a) retire before your 65th birthday
b) have 2 trips a year as you desire
c) be able to help the grand kids with their college education?

(YES, they blurt out).

If so, I would like to study your situation, put together recommendations and actions on how to have what you want and meet again next Tuesday?

Instead of selling a plan, you are now a more valuably perceived financial planning professional selling prospects their financial dreams come true.

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