How to Find New Financial Planning Clients

You’ve worked hard to complete your advisory training — or maybe you’re working hard toward your CFP® certification. It’s time to start your career or settle into a new firm… but first, you need clients!

Whether you’re working at an established firm or starting your own practice from the ground up, building a clientele can be both exciting and intimidating. How do you acquire clients without constantly going door-knocking or shoving your card into the hand of every new person you meet? 

First, remind yourself that it’s OK if it takes a little time to fill your client roster — patience is key! Then, follow these steps to find clients for your financial planning practice.

Finding Clients, Step #1: Create a Clear Niche

There isn’t just one kind of financial planning client — they all have different needs and priorities. That’s why there isn’t just one kind of financial planner!

Choosing an area of expertise can make it easier to build a client roster full of people who value your specific skills and unique knowledge. And specializing in one aspect of financial planning can make it easier to stand out to potential clients and employers.

So before you start looking for clients, think about the kind of people you’d like to serve. Do you want to work with…

  • Retirees
  • Young professionals
  • Single parents
  • High-net-worth individuals
  • Underserved communities
  • Small business owners

Think about the type of people you most want to help, and build the skills and expertise you need to serve them well. 

Once you know your niche, you can start tailoring your messaging, services, and marketing strategies to attract those ideal clients. Highlight your chosen niche on your website, LinkedIn, social media, and resume.

NOTE: If you don’t know your niche, that’s OK! Generalization is not a bad word. This is still a good exercise to use to think about the type of people you want to help! 

Finding Clients, Step #2: Leverage Your Personal Network

Personal connections can be one of the best sources for new financial planning clients. 

Start with your personal network — tell your friends, family, and acquaintances about your new career. Even if they don’t end up working with you directly, they may recommend you to their own acquaintances who are looking for financial advice.

Here are some ways to tap into your personal network:

  • Share your career goals and progress (e.g. completing your CFP® certification requirements) on social media and in personal correspondence.
  • Let people know how you can help them manage their money.
  • Offer free financial check-ups or consultations to attract new potential clients.
  • Ask family and friends if they know anyone looking for a financial advisor.

Asking for referrals might feel a little awkward at first, but it becomes much easier with practice.

Finding Clients, Step #3: Build a Professional Online Presence

Potential clients can’t easily find you if you don’t have a comprehensive online presence. Establishing your professional online profile helps boost credibility and gets your name in front of your target audience.

Here are some ways to create and grow your online presence:

  • Build out your LinkedIn profile with details of your credentials, services, and professional experience.
  • Create a website highlighting your services, accomplishments, and contact details. Make sure your site follows SEO best practices.
  • Create a Google Business listing.
  • Run ads to your website — paid advertising has a 50% success rate, according to Kitces.

Once you’ve established yourself online, you can use those platforms to showcase your professional knowledge and attract new clients.

Finding Clients, Step #4: Engage and Educate Your Audience

If you want to get the most out of your online presence, you need to be actively engaging your audience. Doing so can help you build a following faster than simply maintaining a static website and posting infrequently on social media.

One of the best ways to engage your audience is to provide them with valuable content. Consider starting a blog, podcast, or YouTube channel to share educational financial planning resources. Focus on simple, relatable advice, and encourage your audience to ask questions or participate in discussions.

Establishing yourself as a reliable source of useful information helps you build trust with your audience. And remember, you’re not limited to your own social media profile and website. Consider providing content to third-party sites — this approach has a client acquisition success rate of 62%!

Finding Clients, Step #5: Partner With Other Financial Professionals

Your professional network is just as important as your personal network when it comes to attracting new clients. Collaborating with other professionals in tangential fields (e.g., CPAs, attorneys, and real estate agents) can lead to referrals for new clients in your target market.

Here are some ways to build relationships with other professionals:

  • Join industry organizations
  • Connect at conferences and professional development events
  • Collaborate on client work (when appropriate)
  • Offer to exchange referrals
  • Provide guest content for their website or social media

Building professional relationships can also help you expand your own knowledge base, which can help you better serve your existing clients. 

Finding Clients, Step #6: Request Referrals From Existing Clients

Referrals are one of the best sources of new clients — this strategy has a 95% success rate! It’s also efficient — getting a client via referral often requires far less time and effort than other forms of marketing.

So, how do you get referrals from your existing clients? First, invest time and energy in serving your clients as best you can. Highly satisfied clients are more likely to recommend you to their network. 

Try these steps:

  • Be direct: Ask clients to recommend you if they know anyone looking for financial planning.
  • Offer an incentive: Give clients who refer you a small gift or discount to thank them. Be careful about this — you never want it to seem like you’re bribing clients for a referral or offering commissions (not allowed for CFP® professionals!). 
  • Request a written recommendation: Ask satisfied clients to provide a testimonial or write an online review.

Remember, you need to build a strong relationship with your clients first before you ask them for referrals!

Finding Clients, Step #7: Continue to Hone Your Financial Planning Skills

As you’re investing time and energy into client acquisition, don’t neglect your professional development. It’s important to continue learning and growing your financial planning skills. 

Attend training sessions, earn certifications, and find a mentor — all of these approaches can help you become a better planner and expand your network (providing more opportunities for referrals!).

Not sure where to start? A CORE or CORE+ subscription gives you access to hands-on training, mentorship, online networking, and more resources to help you expand your financial planning skills.

Take the First Steps Toward a Thriving Financial Planning Practice

Building up your clientele takes time. But don’t be discouraged — every successful financial planner started where you did. With perseverance and dedication, you can attract loyal clients who trust you and feel comfortable recommending you to their friends.

Want to build your professional network and hone your financial planning skills?  Join Amplified Planning CORE! You’ll get access to innovative online training materials, live learning events, and exclusive resources. With CORE+, you’ll also get personalized feedback on your client meeting notes. Get all the details and subscribe today!