How can I get new clients as an introverted financial advisor?
October 29, 2011 2:07 PM Subscribe
I'm finishing my economics degree this year and I've decided that I would like to become a fee-for-service financial advisor. The one major issue is that I'm strongly introverted and I'm not confident about my ability to find new clients. I'm looking for book recommendations and sage advice from those with similar types of careers.
posted by Homo economicus to work & money (11 answers total) 8 users marked this as a favorite
I've had an interest in financial advising since my teenage years when my mother was given awful advice from a commission based advisor (a widow with two children was advised to leverage her house to buy mutual funds, just prior to the dot-com bubble in 2001) and lost a great deal of money. I've read many consumer financial planning books since then and I've taken a couple of financial systems courses in university. After my B.A. I will take a series of courses on Financial Planning and get certified.
I'm excited by the prospect of helping people invest their money and get their financial lives in order, but I worry that I won't be able to find enough clients to earn a living. A majority of the industry still seems to be commission based, so I there aren't many options for joining a big firm while I start out. There are a few small companies (1-2 advisors) and one larger company (10-15 advisors) in my city which operate on a fee-for-service basis.
I think I'm fairly good at one on one conversations and conversations where there is a clear topic or reason to be talking, but small talk and being social for the sake of being social is difficult for me. Because of this my personal network is rather small, and I'm not sure how I should go about increasing it. Book on how to find new clients and get referrals would be helpful. Something along the lines of 'Sales for Introverts' perhaps.
Bonus: Personal experience of how you got in touch with your financial advisor and other miscellaneous advice for this type of career.