Damian Davies, founder of The Timebank, shares six practical steps advisers can take to attract new clients and grow their businesses. Drawing on years of experience supporting financial planners, he explains why client acquisition is more like brewing the perfect pot of tea – it takes time, the right ingredients, and a thoughtful approach.
Do you ever get those cups of tea you just NAIL.
- First off, it’s a great blend, exactly what you want.
- Next, it’s been brewing just the right amount of time. In my case, that is when I just about forget I am brewing it, but catch it just in time!
- Best of all, when you have your first slurp, the temperature is PERFECT.
It’s a great brew, and it stays with you for a long time.
When was the last time you had a really memorable cup of instant tea?
Exactly!
That’s my point, a successful brew takes time. The same goes for brewing your business (sorry, I am torturing the analogy now!)
There are very few answers to growing your business instantly, short of acquiring another business.
Growing a financial advice practice is more like brewing a good pot of tea. It takes time, the right ingredients, and a bit of patience. The good news? With the right approach, it can also be enjoyable and hugely rewarding.
When looking at tips for growth, it is hard to look beyond Phil Bray and The Yardstick Agency, which put marketing practices into an easy-to-digest context for financial advisers. These are 5 great tips to take away today:
1. Specialise to Stand Out
Imagine trying to please everyone at a dinner party. Impossible, right? The same goes for client acquisition. Advisers who specialise, say, in business owners or medical professionals, tend to earn more and build deeper trust. In fact, niche advisers can earn up to 67% more than generalists. Choosing your ‘tribe’ makes your message clearer and your value obvious. It also makes your clients self-select, saving you time!
2. Referrals: The Gift That Keeps on Giving
There’s nothing better than a happy client telling their friends about you. Referrals still bring in the bulk of new business, around 85% according to research. But don’t just cross your fingers and wait. One firm boosted referrals by 136% simply by saying thank you at the right moments. Turns out good manners really do pay!
3. Be the Guide (Not the Salesperson)
Consistent, useful content; blogs, webinars, even short videos, help people see you as the go-to expert. Think of it like leaving a trail of breadcrumbs. When prospects are ready, they’ll follow the path back to you. The Yardstick Agency notes that regular blogs don’t just attract attention, they also keep your name in mind for when life changes (especially when they are focused on your specialism (see point 1!).
4. Tech + Human = Winning Combo
AI can now help with brainstorming, drafting, even replying to reviews. But remember, clients don’t want to talk to a robot. The sweet spot is using tech to save time, while keeping your advice personal and human.
5. Get Out There
Visibility matters. Whether it’s hosting a quirky event, sponsoring a local cause, or speaking at a community gathering, showing up in unexpected places builds trust. Sometimes the best client conversations happen over coffee, not spreadsheets.
6. Be online
Whilst getting out there is important, being online might be even more important. If you build a presence online, when people meet you in the flesh, they already know you pretty well.
Final Thought
Client acquisition is a marathon, not a sprint. It’s about showing up, adding value, and keeping the conversation going. So brew that pot of tea, stick to your strategy, and remember: the right clients will find their way to you.
