Generally speaking, there are four categories of clients:

Category 1: People who will trust you right away.

Category 2: People who need to hear your message repeated multiple times and/or in multiple ways.

Converting them could be as simple as sending three direct mailers instead of one or including a few additional examples in your in-person presentation so something finally clicks.

Category 3: People who need to build a relationship with you over a long period of time (it could be weeks, months, or years).

Email marketing is the best strategy that work sextremely well with these people.

Category 4: People who will never hire you, no matter what.

Nearly all financial advisors focus exclusively on people in the first category. They spend boatloads of money and years of their lives chasing quick wins, hoping to convert those rare individuals who are ready to act immediately. But, by doing so, they’re leaving massive opportunities on the table.

The real gold lies in nurturing the second and third categories.

Not only do they make up the majority of prospective clients, but there is far less competition for their attention. Most financial advisors give up too soon, assuming that if people don’t book right away, they’re lost causes. But those clients aren’t lost — they’re just waiting for the right moment to take action.

• Make 1 - 4 prospecting attempts per day, 5 days a week, 50 weeks a year.

The secret of happiness is freedom, and the secret of freedom is courage. Specifically, the courage to prospect.

• IP has given our Group an exclusive discount of $750 on startup/transfer fees! 
• For those starting brand-new in the industry and getting licensed, IP will reimburse you 20% of your Kaplan study material after you've written you first securities sale. This discount is exclusive to our Group.
• The monthly fees are $195. This includes E&O! IP has one of the lowest cost Errors and Omissions (E&O) Insurance that covers life insurance, securities and RIA business (this is pro-rated to a lower amount if joining after January). This dramatically reduces the barrier to entry.
• The only required extra expense is Docusign ($240 - $300 per year).
• If you want a FINRA branch the annual cost is only $200.
• Note: for life-only reps the E&O is $50 / month. No start-up costs.

Markets go UP approximately X out of Y years?

1. 1 out of 5 (20%).
2. 2 out of 5 (40%).
3. 3 out of 5 (60%).
4. 3 out of 4 (75%).
5. 2 out of 4 (50%).
6. 1 out of 4 (25%).

Answer = 4

This is part of the "8 Facts of the Market" and the "Lifeboat Drills".