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Forming
New High Net Worth Relationships in Today's Market
When asked
"What topics regarding the marketing to HNW individuals would you like
to learn more about?" Financial Advisors across the country have frequently
requested two topics:
- How
do you talk with HNW individuals in social situations?
- What
are the best ways to transition social relationships to business relationships?
This series
of four topics (60 minutes in length) addresses these questions
in detail:
1. Identifying
the Invisible Rich and the People Who Influence Them
- How
do you define your market?
- Can
census and demographic information identify pockets of wealth?
- Can
you identify individuals within the top 2 - 5% of your market
by name and home address?
- Who
are local influencers and how can they help you?
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2. Where
to Meet and Socialize with Wealthy Individuals
- Which community organizations attract wealthy individuals?
- What characteristics should they possess? What do you need to
join?
- How much time does it take?
- What do you do?
- What does it cost? How can you raise your visibility?
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3. Talking
with Wealthy People and Getting Them To Like You
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How to start a conversation when meeting a person for the first
time.
- Explaining
'what you do'.
- Learning
about their interests and passions.
- How
to discretely probe for information.
- Initiating
a second meeting and developing a social relationship.
- Why
wealthy people still make new friends
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4. Transforming
Wealthy Friends into Clients
- Explaining
to social acquaintances 'What you do.'
- Asking
for referrals based on specific situations.
- Why
some HNW individuals will or won't do business with people they
know socially.
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What are the obstacles and how can you overcome them?
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This series
is based on personal experience information derived from personal interviews
with Financial Advisers and other professionals who are successful at
meeting HNW individuals and developing social relationships. Interviews
with HNW individuals who are frequently asked for business examined different
approaches and how they choose with whom to do business.
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