How Proving Your Planning Value Upfront Boosts Prospect Conversion Rates

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In my 20-plus years as an advisor, one of the most significant ongoing challenges has been proving my value as a financial planner before a prospect commits to becoming a client. There’s an array of services we provide to our clients, but we can’t divulge everything before signing – and prospects are rapidly becoming harder to woo.

Still, investors from Gen Z to Baby Boomers say they want real advice now more than ever. So how can we demonstrate our value to differentiate ourselves?

At my firm, Altfest Personal Wealth Management, we’ve adopted a new tool that we created at my AI-driven tech company, FP Alpha. That tool is appropriately named the Prospect Accelerator, which proves our value in a new way, allowing us to give automated, specific, and informed planning advice to prospects.

In the same way that Riskalyze revolutionized conversations around investing, the Prospect Accelerator has done so for our discussions around everything else that falls under the vague, fuzzy umbrella of “planning” that advisors do.

And it works. Since implementing the Prospect Accelerator, we’ve tripled our conversion rate with new prospects and dramatically shortened our sales cycle.