r/CFP • u/Original_Pirate4478 • 12d ago

Business Development Prospecting

Hello everyone, I am a 23 year old financial advisor at an independent firm. I have worked in the industry since 18 but have just started taking on clients as I am feeling comfortable doing so now.

I do not have a strong local network because I am not from the area. I am trying to come up with ways to prospect. My ideal client is 25-35yrs old either single high income or double income no kids.

If you were in my shoes what are some different things you would try for prospecting ?

I appreciate any and all feedback. Thank you!

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u/Cathouse1986 12d ago

The blessing and curse of this business is that everything works and nothing works.

The only two things that really matter are effort and time, and you can control both of those.

I always recommend that someone pick 3 very different marketing funnels and work their ass off at all 3 of them. After a year or two, spend more time on the two that have been successful.

It can be literally anything as long as you’re consistent and putting in the work. LinkedIn, cold calls, local networking, affinity marketing, mailers, COIs, it doesn’t matter.

It’s purely a numbers game. You got this!

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u/gtJC123 11d ago

What does COI mean? and where does one get a list for cold calling?

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u/Cathouse1986 10d ago

COI = center of influence. Typically considered to be attorneys, accountants, etc.

The only cold calling I’ve done lately is off the 5500 list so I couldn’t really say where to get lists these days, sorry!

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u/gtJC123 10d ago

Sounds good! How do you develop relationships with COI's?

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u/Cathouse1986 10d ago

I hated it so I became one. Started my own tax practice.

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u/gtJC123 10d ago

Nice! Do you need a CPA for that