Four Steps to Grow Your Client Base

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As an independent financial advisor and small business owner, you have a lot on your plate. You may have a great business, but if you're not growing it, you're flatlining. It's not enough to just serve the clients you have. You need to expand your client base. Not only must you be good at managing wealth and financial planning, but you also need to be committed to providing excellent client experience for retention and marketing for growth. That's why I've put together four steps for growing your client base – this month.

Week 1 – Set realistic new client goals

You can’t sustainably add new clients to your business unless you have a clear idea of what that growth looks like and how you will make it happen.

Set a realistic new client goal. Think about how many clients you would like to take on. How many clients can you realistically add with your current infrastructure, staff, and availability? Clarity about your target number of clients is important.

For example, if you can only handle four new clients per quarter and each client requires an average of five hours of work per month, do you have time to handle the uptick? If you want to increase your number of clients by 50%, the added revenue might seem appealing, but you will need to be able to cover the increased workload.