Prospecting is the biggest challenge that a financial advisor face. It is quite difficult to reach out to prospective clients. Effective prospecting techniques prove to be a lifesaver. Successful advisors are the ones who have done the most prospecting throughout their careers.

So, in the post, we are going to show some great prospecting ideas that would help you generate prospecting leads.

About The Significance Of Prospecting

Prospecting is related to the systematic and persistent method to build and qualify sales leads in the business. This involves converting them into “prospects.” This forms the basis of the sales process.

The growth in revenue generation makes prospecting to be an unending responsibility. It is essential to develop a business. It requires a business to prospect and learn how the service or product can bring about a change in their life. A financial advisor is therefore advised to enhance their prospecting skills. Here are a few ways to make prospecting easier for you.

AdvisorEngine is one of the trusted places to find the best investment management software. The software offers a comprehensive digital wealth platform that efficiently takes care of client relationship management, reporting, marketing, and portfolio management. In this way, it helps speed up the growth and experience of their clients.

Beneficial Prospecting Ideas

Get Rid Of Your Fears

Many businesses are scared of reaching out to their prospective clients. This can bring a lot of anxiety to them. Lack of preparation and the fear of rejection are the two main reasons why financial advisors avoid prospecting.

A financial advisor needs to be knowledgeable about the activities that you wish to reach. Prepare for the answers that your prospect may ask you in relation to your company. This pre-preparation will instil confidence within you and simplify the process of prospecting.

Use a Customer Relationship Management Tool

A CRM is a great way to streamline the entire process of prospecting. It is not possible to remember the details about all your prospects. CRM or customer relationship management software is a tool that maintains the database of your customers. It tells you when and how to follow up with customers and more.

Learn The Ways To Deal With Rejection

No matter how impactful is your marketing, not everyone buys into your products and services. Some people may not desire what you offer and they may be looking for something else. A financial advisor should take rejection as a part of the sales process. Don’t take it personally.

What is important is to target your tribe. They should be looking for the same set of services that you offer. Targeting like-minded people will reduce the possibility of rejection. Don’t get stuck. Watch out for other people who would be interested in your services. It is as simple as that.

Have A Script

Marketing a product or a service is an art. To be a successful marketer, you need to know ways of how you can make the desired impact on people. You should be confident, fluent, and comfortable when using the script.

Modify it a bit in accordance with the people with whom you are dealing with. To get a good outcome from your efforts, your script has to be easy to comprehend, clear and impressionable. It should convey the message of why a prospect requires their products/services and use them.

Make sure your scripts serve a purpose. It should be consistent and focused. Constantly adapt the scripts and evaluate them to enhance your conversion ratios. Don’t waste your time in drafting scripts for those who do not need any financial advisor and want to manage their money on their own. No amount of effort will work to convince them.

About Advisor Engine

It is a reputed financial service provider firm that offers innovative wealth management technologies. All of their products are designed to cater to the needs of Financial Advisor, Registered Investment Advisor, and Wealth Manager.

Let us understand the few beneficial technologies that benefit financial advisors and investment professionals in the following ways:

Digital Onboarding

The company offers a consolidated e-signature moment with the company’s document and custodian’s forms.


This software benefits person in the following ways:

  • Automate the procedures with the help of powerful workflows
  • Uplift client service with the help of proactive reminders

Client Portal

  • This service includes an e-signature and a two-way document sharing that ensures safe collaboration
  • They also offer account aggregation for pulling in the details related to credit card, and savings account activity

Goals-Based Planning

Their goal-based planning approach benefits the business as

  • Showing the importance of trade-offs in investing and trading to enhance long-term results
  • They help strengthen the way their clients perceive the value that you deliver

Investment Framework

Another benefit of this framework is that it helps develop a customized portfolio of clients and enables the use of open-architecture models.

Trading And Rebalancing

  • Trade by either using the tools or through the custodian
  • Rebalance portfolios as per the desired methodology


This is another valuable tool in the execution of investment business. It assists in the following ways:

  • Import data automatically from varying sources
  • Deliver target-based reporting based on your requirements

Billing Of Fees

Fees management is another critical aspect of a business. This fee management tool makes the task simpler by:

  • Streamlining the computation of fees for the entire team
  • Accelerate the process of revenue collection


This tool helps attract prospects and takes the financial advisor closer to them. This greatly helps in obtaining more sales opportunities in the business.

  • Establish trust
  • Develop your business brand


Before implementing the above effective prospecting ideas, it is important to learn how marketing differs from prospecting. All ways of prospecting are a form of marketing, but not all types of marketing are prospecting.

In the case of outbound marketing, you reach out to your potential clients to find their interest as well as filter out sales leads who are not prospects. Use the above ways of prospecting to grow your sales and revenue generation.