I’m going to ask you some potentially tough questions now…

1) have you identified a target list of clients you would love to act for?
2) do you know who acts for them now?
3) do you have a relationship with any key decision makers in those businesses?
4) do you know why you should be bothered?

Knowing these bits of business intelligence could mean the difference between a very successful fishing expedition and the fishing equivalent of sitting by a frozen river and coming back cold, frustrated and empty handed. You and I both know that if you are going to grow your own client portfolio, you are going to have to do a few of these fishing expeditions…

Click here to download our free ebook "The reluctant business developer's guide to winning clients". (email required)

Let’s take a step back. When is a client likely to move away from a current advisor?

1) the current advisors have mucked up significantly
2) the partner looking after the client has retired or moved away to a different firm
3) the client believes they could get better value from a different advisor – which often means that the incumbents have got complacent.
4) there is a new decision maker in place – e.g. In-house Counsel or FD/FC

Now if you have a good relationship, or any of your team have a good relationship, with anyone in the potential client’s finance department it’s very easy to hear about 1, 3 or 4. However, if you keep an ear to the ground for staff & partner movements AND you know who works for your target clients, then you will know when 2) has happened. Then, if you have a good relationship you also shortened the odds of a successful fishing expedition.

So, what are the takeaways from this blog post for you?

1) seek out information about staff moves in your industry and share this across teams – LinkedIn is an excellent tool to help with this
2) make sure all your team at all levels are actively networking and building up relationships and webs of influence with target clients
3) do be prepared to ask the questions about whether you can ‘have a shot’ at the xxxx piece of work for that client

Click here to download our free ebook "The reluctant business developer's guide to winning clients". (email required)

Scroll to Top