| One of the key components for a successful | | | | IFA in the UK this often means, a company based |
| business as a financial adviser or IFA working in | | | | in India or Pakistan, where the financial adviser has |
| the UK financial services industry, is the generation | | | | very little control of what is being said to the |
| of new business. The most important thing to be | | | | potential client and who they will be contacted by. |
| successful in the role of a financial adviser is to be | | | | Another thing is that the cost can be prohibitive |
| in front of people who are willing to put money | | | | for what can sometimes essentially be very |
| into an investment or purchase a protection plan | | | | poorly qualified new business. There are obviously |
| or pension. It doesn't matter how well qualified the | | | | companies based in the UK that can offer the |
| financial adviser is, it doesn't matter what | | | | financial adviser or the IFA a modicum of control |
| organisation he works for, if he is not in front of | | | | over the factors above but again, companies |
| the right clients, he won't do business! | | | | offering an outsourcing or lead generation service |
| So what techniques can be used to generate new | | | | to the financial services industry in the UK can be |
| business. Of course, some financial advisers or | | | | hugely expensive in comparison to companies |
| IFA's will be working for organisations that will | | | | offshore. So what is the solution? an offshore |
| provide them with leads or clients referrals - good | | | | organisation - little control over the process and |
| for them! But what about the guys and gals who | | | | mostly poorly qualified or a UK company - costly |
| aren't? There is the telephone and the telephone | | | | and again - no guarantee of quality. |
| book or door knocking, good old fashioned | | | | The best advice would be to research the various |
| methods of generating potential client names. The | | | | organisations offering outsourced lead generation |
| thing about these methods is that more and | | | | to the financial adviser or IFA as much as possible. |
| more, consumers are annoyed by what they see | | | | It is quite feasible that there are organisations out |
| as an invasion of their privacy and unsolicited calls. | | | | there that offer a very high quality service and at |
| There is the client referral from existing clients - | | | | a very cost effective price, its the same with |
| this is a good way to generate new business as | | | | everything, you get what you pay for, |
| they will have already been told by friends what a | | | | unfortunately. For the IFA or financial sales |
| great financial adviser they have working for | | | | professional its a needs must situation - its vital to |
| them and what a great idea it would be for them | | | | generate new business in order to be a successful |
| to see that financial adviser. There is also the | | | | going concern but then the time is needed to be |
| networking route - attending BNI(Business | | | | able to get in front of those people to write the |
| Networking International) meetings and marketing | | | | business. Thats not going to happen if time is |
| the advice on offer and the brand name worked | | | | being spent trying constantly to generate new |
| for. | | | | business. Research the companies thoroughly, set |
| The final route and one shrouded in uncertainty | | | | a budget and ask for some sort of control over |
| for most working within financial services, is | | | | whats said to potential clients - its the only way |
| outsourcing the generation of new business to a | | | | to make outsourced lead generation work. |
| lead generation company. For a financial adviser or | | | | |