Why Financial Advisors Need Clarity On Their Ideal Client


Hi everyone, and welcome to The Magellan Network Show. For years, we've discussed the "ideal client" concept in our industry. Today, let’s discuss the factors that set the best clients apart for your business.

When advisors consider their ideal clients, they typically focus on wealth, occupation, or life stage. Economic factors such as these are inevitable, especially if you're running a profitable business, but are these all that matter?

In this episode, we'll discuss four core characteristics that define your ideal client relationship.

I also talked about:
(04:30) Why a client’s likeability is crucial
(05:44) An exercise to help you connect with a person
(07:25) The three types of convincer strategies
(10:39) Why I don’t believe in discounting or negotiations when it comes to fees
(12:57) Why advisors should have a client scorecard system

Related: How Financial Advisors Can Drive Profits Into Their Business