Building a Client Base in Year One
Your first year as an independent financial advisor will offer no shortage of struggles (fear not, you'll also experience your fair share of successes!). Undoubtedly, new firm owners spend considerable time worrying about where and how they'll find their first clients, and rightfully so: building a client base in your first year is key to success and sustainability.
In this video, XYPN members Kristy Runzer and Trent Porter will share their first-year firm ownership journeys, diving into the details of how they built their client bases and set themselves up for success.
Listen as Kristy and Trent share their experiences with:
- What avenues have worked best for finding, and nurturing, prospects
- The power of one-to-one relationships
- Having the initial fee conversation with clients—and how to revisit if your fees change
- What XYPN resources have been most helpful in building and growing their businesses
- Tactics for effective conversations with potential clients
- The cost of acquiring a new client (spoiler—it's not what you think!)
- How they navigated income replacement in year one
Mentioned in this call:
- 5 Places to Look and Find Your First Clients
- Content Marketing Basics: Automate What You Can, Manage What You Can’t
- 5 Easy Tips for Networking for Introverts - What Would Arlene Say?
- Networking for Extroverts - A Guide: What Would Arlene Say?
- How to Convert Prospects into Leads: A 5 Step Process for Financial Advisors
- 5 Simple Secrets of Effective Prospect Nurturing
- Choosing a Financial Planning Fee Structure – What Are the Options?
- How To Profitably Price Fee-For-Service Financial Planning
- The Value of YOU: How to Calculate the Value of Your Time as an Advisor
- Raising Your Financial Planning Fees
- How to Find Your Niche as an Independent Financial Advisor: What Would Arlene Say?
- 10 Must-Haves for Your RIA Website
- How to Build a Great Website for Your Firm
- Nurture Prospects, Nurture Your Bottom Line
- A Successful Business Strategy Starts with Vision
- Using Social Selling to Generate Leads
- XYPN's Executive Coaching & Marketing Support
- XYPN's Community
- A Case for Jumping in Full Time When Starting Your RIA: What Would Arlene Say?
- 6 Tips for More Productive Sales Conversations
- Prospective Clients and that Initial Client Meeting: What Would Arlene Say?
- 3 Advisors Explain Their Best Tips for Time Management
- The Benefits, Challenges, and Costs of Growing Your Firm
- XYPN's Free Downloads
- Questions to Ask Before Integrating Investment Management into Your Planning Firm
- XY Investment Solutions
- XYPN's Tech Stack
- iRebal through TD Ameritrade
- XYPN's TD Ameritrade benefit
- Saying "No" to Clients: What Would Arlene Say?
- 6 Strategies for Career Changers
- Transition: Leaving Your Position with an Existing Firm to Start Your Own Fee-Only Firm
- Why You Need to Humanize Your Business (and How to Do It)
- How Financial Advisors Can Overcome Their Self-Doubt: What Would Arlene Say?
- XYPN Member Benefits Directory