A better question might
be; How much did it cost you to get your last client? Or, how much will it cost you to get your next
client? How much will it cost you to lose an interested prospect? But maybe the best question of all
is: HOW MUCH WILL IT COST YOU TO LOSE A
One cost benefit analysis
that was recently reviewed indicated that it cost the average advisor a minimum of
$550 to land each new client. Many successful advisors spend $4,000 to $10,000 per month in
advertising. Some advisors spend very little on advertising because they have built up a good client
base and have strong referrals. You don't just lose a client, or a referral, you lose a
lifetime of earnings.
It is just "salt in the wounds"
if you lose a client to an inferior advisor with a questionable certification or insufficient licensing. With
the cost of advertising on radio, television, newspapers, seminars and direct mail; can you afford for your client,
prospect, or referral to be confused about your credentials?
Like everything in the financial services business;
certifications, designations, titles, licenses, responsibilities, and advertising have gotten way too
complicated. And if all of these complications are frustrating for you, imagine how an
investing customer must feel trying to sort through the "Alphabet Soup" of financial
In survey after survey, the
investing public has said they cannot tell the difference and don't know the difference between one type of
advisor, planner, broker, agent or consultant versus another. Investors are often confused by the
"Alphabet Soup" of financial designation acronyms and most have no idea which type of financial
advisor is best suited for the consumers needs.
For years financial colleges
have been adding one designation after another in an effort to increase revenue. To make matters worse;
anyone can form an organization and offer a new financial designation. Now add in the scam
artists WHO ARE GOING AFTER YOUR CLIENTS and we have the mess we are in now.
We have solved this problem so
that Advisors can get back to the business of helping their clients. Think about how simple it is for a
client to recognize a Five StarRating©. Mutual funds and movies have star ratings. So
should you. No one buys a car without a Carfax© and it won't be long before investors won't work with
advisors that don't have a StarRating©.
How much does is cost to get a
new client? $550+. How much does it cost to lose a client or referral? A lifetime of
earnings. How much does it cost to lose a prospect? $550 plus a lifetime of
earnings. How much does it cost to get your AdvisorRating? $199 (plus a
small, one time set up fee). How much is piece of mind knowing you are not wasting thousands of
dollars on advertising? Priceless.
by Membership Director, AdivsorRating.com
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