A professional connections distribution strategy that works can be like a map leading to the buried treasure, writes Brett Davidson of FP Advance.

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    Just being good at what you do isn’t enough. You can be the best adviser on the planet and still struggle to earn the respectable income you are truly worth. So, marketing yourself and securing a steady flow of leads is important; let’s call this your distribution strategy.

    Done well, working effectively with professional connections can be a vital factor in breaking through to a higher level of business performance.

    Professional connections often get raised as a panacea to fix the distribution problem. However, these can be fraught with long lead times and poor results if you don’t have an effective process for sorting through the dross (i.e. accountants and solicitors who will never do business with you, despite what they say to you publicly).

    The benefits if you get this right

    Despite the challenges (and there are many), some financial planning firms have little option but to court professional introducers because they are the gatekeepers to their target market.

    For example, advisers working with small business owners often have to accept that accountants can be key in getting access to a flow of this type of work. It’s not that you can’t find them yourself, and you should never stop doing that as well, but if you can find an accounting firm with enough of the right types of clients and build a relationship, there’s your distribution for the next few years.

    At the very least an adviser working in this space would need to know how to get along with accountants.

    Other specialist niches, such as divorce or trustee cases, require working with solicitors. The same issues apply.

    Done well, working effectively with professional connections can be a vital factor in breaking through to a higher level of business performance. A professional connections distribution strategy that works can be like a map leading to the buried treasure.

    However, done badly, it can be frustratingly like a rainbow, seemingly leading to the pot of gold but never quite getting you there.

    For most advisory firms, being able to develop this distribution source as one aspect of new client lead generation is a vital factor in getting maximum performance from your business asset.

    If you are successful, you get to manage one key relationship which sends you pre-qualified leads of the right type on a regular basis, keeping you busy, whilst reducing your marketing time and costs.

    That has got to be something worth putting some time into.


    Brett will be speaking at our annual strategy event on 4 February. if you're a Nucleus user and you'd like to book your place please email events@nucleusfinancial.com. To find out more about the event, and to see a welcome message from Brett, take a look at the annual strategy event page.

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