4 things financial advisors must do to grow and maintain their business

4 things financial advisors must do to grow and maintain their business

Business Development

Suraj Rengan

Suraj Rengan

245 week ago — 3 min read

Background: It takes hard work and hours of dedication to become a successful financial advisor. Moving the needle in the right direction also demands correct planning, prospecting and pitching. GlobalLinker member and financial advisor, Suraj Rengan shares four expert tips to help grow your business as a financial advisor.

Every financial advisor seeks to develop and maintain a healthy practice. Here are certain things you must focus on.


1. Make prospecting a priority
Generating leads are important to grow your practice. Referrals might not be sufficient to achieve targets. Hence, financial advisors must include prospecting in their daily routine. Do a thorough research of prospective clients and start pitching them. If you feel nervous about talking to strangers, invest some time in building your soft skills such as excellent communication, positive attitude and problem solving. This will make prospecting less difficult and you will be able to speak confidently with potential clients and scale your business.

2. Build an emotional bond with clients
When you meet a prospect for the first time, don’t talk about numbers or different investment products they cannot understand. Connect with them on an emotional level by speaking to them about their monetary aspirations. Present yourself as a warm and compassionate person. Give examples of how you have helped other clients plan for their retirement or build a fund for their child’s education. You can easily sustain your practice if you win your client’s trust.

3. Develop a consistent process
Allot a fixed time daily for high priority activities especially prospecting. Make sure you stick to the schedule and don’t let anything distract you. Being consistent is vital for financial advisors in order to be successful. Pay attention to every task that you take up. Being diligent will help you save energy and time which you can utilise for other important duties.

4. Be a good listener
When financial experts actively ‘listen’ and not just ‘hear’ their prospects, it indicates that they are genuinely interested in their thoughts. Moreover, if you can fully comprehend the conversation, you will be able to determine your client’s goals correctly and accordingly, develop a suitable financial plan in line with their objectives.

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Disclaimer: The views and opinions expressed in this article are those of the author and do not necessarily reflect the views, official policy or position of GlobalLinker. 


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Suraj M Rengan

Suraj Rengan, originally from Trivandrum, Kerala, India. Our company is in the overseas education consultancy industry named, (www.vizainternational.com) Viza International UK Ltd...