You might be a solo practitioner, or maybe you’re the owner of a small firm. Perhaps you want to grow your investment advisory practice, or maybe you want to expand on what you are doing now. Whatever the case, it’s vital that you understand what it means to be an investment advisor and how to grow your practice before making any decisions.
It’s no secret that content marketing is one of the most effective ways to attract new clients and grow your investment advisory practice. But it’s also a great way to get your firm’s name out there, build trust with existing clients, and create opportunities for relationship building. In addition to social media platforms like Facebook and Twitter, you can host webinars or write blog posts that are relevant to people in your target market.
Re-engaging with the lower part of your book is one key to growing your investment advisory practice. Client retention works both ways. If you’re not communicating with all of your clients frequently, you may be risking losing some clients, costing you revenue in terms of lost opportunities.
You may think you know your niche, but if you haven’t been in business for more than a few years, it’s likely that you’re still refining it. It’s important to take the time to define your niche so that you can better position yourself and grow it.
Investment management is a complex process that requires you to focus on other areas of your business. It’s important to consider outsourcing to experts in fund administration services that understand your business and will make the most of your resources.
Growing your investment advisory practice is going to take time and networking as you develop your services and products for clients. Be patient and always do your best to develop a strong client relationship. You never know when going the extra mile for even the most basic of portfolio could end with significant recommendations to new clients.
