Why Advisors Should Never Buy Leads

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Advisors should never buy leads.

The sales pitch from firms like SmartAsset, WiserAdvisor and many others goes something like this:

You can buy as many sales-ready leads from us as you want for only $75 each.

When something sounds too good to be true, it is.

Those names that pose as “leads” are highly unlikely to match the profile of your ideal/most profitable prospects.

Growing clients who are your best and most profitable (ideal) clients is the only way to effectively scale an advisory practice.

You are not getting what you think you bought. Even if you actually do want these contacts as clients, you are essentially starting the relationship from scratch.