Displaying items by tag: networking

The competition for prospective clients is as high as ever, which means advisors need to find a way to stand out. One solution is to build out your professional contacts lists through networking. Rebecca Lake authored an article for SmartAsset on some of the best ways to network. Her first suggestion is to join a professional association. They can be a great place to network, as they can facilitate connections between members. For instance, The National Association of Personal Financial Advisors (NAPFA) has a “Community” feature where advisors can join open discussions. Advisors can also network at NAPFA’s annual spring and fall conference events. The next tip is to participate in community events. Events in your area may provide opportunities to meet other advisors and increase your visibility in your community. This could include meetup groups or attending a local small business fair. Lake also recommends that advisors utilize social media, as it can be a powerful tool for networking. For example, LinkedIn is a great resource for building professional connections with advisors and other professionals. If your audience is younger, advisors can make short compliant clips with valuable tips on TikTok. In addition to meeting new people, Lake also recommends that advisors ask questions to the people they meet, listen to the answers they provide, and make sure to follow up with them. Plus, advisors should also become facilitators and make introductions for other advisors as networking isn’t a one-way street.

Finsum:Rebecca Lake, a contributor for SmartAsset, provided seven networking tips for advisors, including joining a professional association, participating in local community events, and utilizing social media.

In a recent article for U.S. News & World Report, Cameo Roberson, founder of Atlas Park Consulting, offered six networking tips for advisors to get great results. Her first tip is to make a good impression to win prospects. She wrote that “Networking can happen when you least expect it,” which means it's important to be friendly, but not be too intrusive in determining whether a person wants to discuss their financial plans. Her second recommendation is to offer value to networking partners. She wrote, “Be a good resource and keep your word to people in your network. As time goes on, you'll build up a reputation as someone they can count on.” She also recommends normalizing the sharing of referrals by creating a system such as writing a note to share with colleagues that clearly describes who you'd like to be introduced to. Roberson also recommends growing your network through business partners. This includes developing a short list of firms that you have built relationships with. This creates a path to possible future referrals since some clients aren't a great fit for every firm. Her fifth recommendation is to build a clear strategy. Roberson recommends thinking outside the box and beyond traditional contacts such as accountants and attorneys. Her final tip is to move with intent and be consistent, meaning that you must implement any plan you create.

Finsum:Advisor consultant Cameo Roberson offered six tips for networking, including making a good impression, offering value to networking partners, normalizing the sharing of referrals, growing your network through business partners, building a clear strategy, and moving with intent and being consistent.