Skip navigation
Stop Marketing Yourself Like It’s 1990

Stop Marketing Yourself Like It’s 1990

Affluent investor research cites that cold calling, direct mail, and public seminars have minimal to no impact with today’s affluent.  They don’t work.  Whereas 83% of today’s affluent tell us that they met their current financial advisor by way of a personal introduction.  Why do advisors continue to market themselves like it’s 1990?

Los Angeles:  “I just made a staffing change,” explained Terry, a senior advisor who was intent on building a team, then clarified, “I had to hire a junior advisor to get me in front of affluent prospects.”

Classic!  That is a symptomatic mistake.  Terry, like so many advisors is hell bent on marketing himself like it was still 1990.  He was expecting a junior advisor to pound the phones and get him in front of affluent opportunities.  He was also placing his “new marketing savant” responsible for the seminar package purchased last year.

Wow!  I hated to rain on Terry’s parade, but I had to share with him what our most recent affluent research told us.  These activities simply DO NOT work!!  Not with today’s affluent.

He’s wasting his time, junior advisor’s energy, and money. 

Think about it.  When was the last time you responded favorably to a cold-call?   You probably can’t even remember. My calls are screened.  How about perusing your mail?  Do you open unsolicited direct mailings?  I don’t even check my mail.  When was the last time you attended a free seminar?  It’s like getting sucked into one of those time-share solicitations. 

So why do advisors continue to engage in these low-impact activities that they deplore when on the receiving end? 

It’s the world that they know.

You should build your marketing strategy around personal introductions.

Common sense dictates that since today’s affluent tell us they discovered their advisor through a personal introduction, advisors need to incorporate orchestrating personal introductions as a core component of their marketing strategy.  In case you’re interested, 83% are happy to introduce you into their spheres-of-influence.

And since the majority of these personal introductions occur in a social setting, today’s affluent are basically telling advisors – get social – socialize with us and we’ll help you grow your business.


After explaining all of this to Terry, I posed two simple questions,

  1. “Would your junior advisor be able to socialize with your affluent clients?”  If so…HOW?
  2. “Would your affluent clients personally introduce your junior advisor to an affluent prospect in their sphere-of-influence?”


Terry’s ah-ha moment was like that of many advisors – the light went on – he realized that he must become the primary rainmaker.  Which meant that he needed to…

  • Socialize with his affluent clients
  • Source names of prospects within their spheres-of-influence
  • Ask for that personal introduction


All of which led Terry to the realization that his junior advisor could play a supporting role, but that he needed to stop using marketing tactics from 1990.

Today’s affluent have told us the marketing tactics to which they respond.  What are your thoughts on why so few advisors are mastering these high impact tactics?

Hide comments


  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.