Go to www.fdic.gov and find out the total amount of bank deposits for your city, then decide if it’s worth prospecting. I suspect you’ll be surprised. In my town of about 100,000, there’s over $1 billion on deposit with the local banks.

Create a marketing list of warm contacts.  Start calling with a very soft approach and ask them if there is anything you can be doing for them.  Open up a conversation and go from there.  Your reputation is everything in the town.  Don't ruin it by being a pushy salesman. 

[quote=LEAP]

If you are in your first 3-5 years of production in a town of less than 150,000 people, how are you growing your practice? 

Although I have a few years of successful sales experience behind me, I am new to this industry and the concept of having to generate all market research on my own. 

Thank you.

[/quote]

Call the local service clubs, Rotary, Lions, etc, and local churches to offer to do a speaking engagement. Most of these organizations are wanting for speakers. No product push. general info only. This is branding(building a reputation) so don't look for an immediate payoff. 

Call the program directors to get put on the schedule. Worst case you'll be well fed.

I've been able to make a terrific living in a community of 100,000.  Get involved in the community, conduct seminars, learn as much as you can personally, network with other professionals: estate planning attorneys, CPAs.  In a smaller community, your clients will spread the word about you, if you do a good job for them. 

Thanks for all the suggestions!!

I just picked up a great book - Super Networking for Sales Pros, Salmon, and it really is helpful if you need better focus on prospecting thru referrals.

I attend some social functions that give me the impression that the local CPA network seems to be sewn up by the big trust firms - any suggestions for how a rookie FA can ask politely for guidance from professional accountants when I won't be able to refer business to them until my client book is less virtual??

[quote=LEAP]I attend some social functions that give me the impression that the local CPA network seems to be sewn up by the big trust firms - any suggestions for how a rookie FA can ask politely for guidance from professional accountants when I won't be able to refer business to them until my client book is less virtual??[/quote]

You won't get referrals from CPAs until they have some confidence in you -- concentrate on getting to know some of the younger CPAs in town, particularly through shared interests: service club, charity, etc.  Work on creating your own knowledge base.  Then start sending relevant articles or information once a month or so, to those CPAs with a personal note -- came across this & thought you'd find it interesting, etc.  Work hard to come up with some non-"off-the-rack" information that will help them in their job.  Just keep dripping on them, eventually a question will come up & they'll call you, or they will just send a small fish your way to see how you work with referrals. 

In a small town, work hard and diligently, and word will spread -- you must be patient. 

[quote=LEAP]

If you are in your first 3-5 years of production in a town of less than 150,000 people, how are you growing your practice? 

Although I have a few years of successful sales experience behind me, I am new to this industry and the concept of having to generate all market research on my own. 

Thank you.

[/quote]

Develop a target list of those all of the criteria listed below:

1)  aged 60-80

2)  with 50k+ in annual income

3)  with 250k+ liquid net worth

4)  that are homeowners

Drip on them, call them, whatever...get in front of people and make sales.