If you’re looking to grow your advisory firm by working with more high-net-worth (HNW) clientele—those with $1 million to $5 million in assets—how can you get started?
Read on for three strategies.
Start by identifying your niche. Think about niches you have a connection with and experience serving.
Who do you want to work with?
Next, develop a deep understanding of HNW investors’ unique needs—and then focus on meeting those needs. How? With value and insight.
You’ll also need a strategy to showcase and communicate your specialized expertise. Consider things like:
Lastly, make sure you’re committed to your niche by doing the necessary work to acquire (and highlight) your deep expertise. Remember: Developing a true niche can provide you with long-term, highly differentiated value.
Why are referrals HNW individuals so valuable? Because their peers trust them for wealth advice.
More than 50% of wealthy investors were referred to their Financial Advisors; however, only 10% of Advisors ask for introductions.[1]
When requesting an introduction, clearly state your needs. Firms with specific client profiles and value propositions attract more referrals. And having a defined niche makes you more referrable.
The key is developing connections with Centers of Influence (COIs) through networking and relationship-building, which can help you remain top of mind.
What types of people do you know who have professional relationships with HNW clients? Think beyond CPAs and Attorneys—consider other professionals who work with the affluent, like Contractors, Realtors, and Luxury Car Dealers.
An engaging digital strategy with impactful brand resources can help showcase what you do.
Your digital strategy includes:
Your website is a critical brand resource because it’s the “home base” for most of your online assets. At the very least, your website should include these pages:[2]
Your social media presence is also vital. Think of it as an investment in your brand’s identity, a platform to highlight what sets you apart, and tool to foster connections with your audience.
Social media is also something that’s top of mind with investors—nearly 50% say social media impacts who they hire as a Financial Advisor.[3]
Use your social media to share about your business and the value you provide. Keep the 80/20 rule in mind, which advises that your content should be 80% educational and informative and 20% promotional.
Every aspect of your digital strategy needs a clear call to action (CTA) that guides your viewer to the next step. Whether it’s a “Learn More” button or a consultation link, specificity matters—a guide, whitepaper, or checklist makes for a stronger offer.
Once you’ve attracted HNW clients, you can focus on serving them and delivering an excellent client experience.
Ready to learn more? Access our complete Guide to Working with the High Net Worth.
The Symmetry Regional Team can help guide you on our HNW solutions including Axiom Personalized Direct Investing and Tax Alpha and provide business intelligence and consulting services to address the intricate financial requirements of HNW investors.
Need help reaching the HNW audience? Symmetry Marketing Group provides marketing, branding, and digital marketing expertise.
[1] The Advisor Coach, “7 Client Referral Ideas to Help You Get More Referrals” (as of December 2023)
[2] Safari Digital, “18 Local SEO Statistics That Matter in 2023”
[3] Longo, Tracey, Financial Advisor, “More Investors Are Vetting Their Financial Advisors on Social Media,” 2021
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