I have over 16 years of experience as a financial advisor in Honolulu. In 2006, I merged my independent financial advisory practice with that of my current partner, who is a very well-respected person in the insurance industry in Honolulu. The vision was for our firm to be a single-stop solution for our clients in many different areas of financial services.
I have always believed that the best way to grow our firm is through referrals. These can come from third-party professionals, current clients, or simply through a network of contacts. I think it is important to maintain visibility in professional organizations and in the community at large, which helps to continuously grow the number of people who might eventually be able to refer our firm.
My ongoing strategy for building professional visibility for our financial advisory practice includes three components:
1. Taking a leadership role in professional organizations. I have been a past board chairman and president of the Financial Planning Association (FPA) of Honolulu and member of the board of directors of the National Association of Insurance and Financial Advisors (NAIFA) of Honolulu. I stay active in both organizations and have found this to be an excellent way to give back to our profession, continually build my expertise, and to widen my circle of professional contacts.
2. Engaging in community events and organizations. I have been active in my children’s various school organizations and activities and involved with youth sports. As the president of FPA, I was involved with several mentoring programs and events in the community. This type of involvement is very satisfying on a personal level, as well as a wonderful avenue for making many new friends. Honolulu has a large population, but, in many ways, it is a small community. Friends, family members, or business associates of a contact frequently are referred to our firm, and we strive to help everyone who has a need for our services. This just works to keep generating potential new clients over time.
3. Consciously focusing on building a network of contacts. I work to represent our firm at all times. Whether it is a purely social engagement, playing sports, or just having lunch, inevitably someone will ask, “What do you do for a living?” I do not like to be overly aggressive in these types of situations, but I am a naturally outgoing person. I enjoy telling people what our firm does and how our advisory practice can help people build a stronger financial future. This type of conversation can lead to a referral for me down the line, or I may be able to help that person with a referral of my own.
INCREASING THE VISIBILITY OF YOUR FINANCIAL ADVISORY PRACTICE
1. Take a leadership role in professional organizations.
2. Engage in community events and organizations.
3. Always represent and promote your financial advisory practice.
Disclosure: Securities offered through Securities America, Inc., a registered broker-dealer, member FINRA/SIPC. Advisory services offered through Securities America Advisors. Spectrum Wealth Management and the Securities America Advisors companies are separate entities.
Photography by David Murphey