Eventually, you'll get to the point where you'll be referred to new clients who are even wealthier than your existing clients. Cloning your best clients is the most cost efficient system for building an asset management business. In a sense, you become the product. If you get good at the referral process, you should be able to create a never-ending stream of qualified, motivated new wealthy clients. Leverage your time and resources by conducting sponsored group presentations.
Many advisors like to speak publicly.
But open public seminars are very expensive to promote and your audience is usually a cross section of all income and net worth segments. These are the people who need your expertise and are happy to pay for it. They usually meet monthly and are always looking for speakers who can help them meet their goals and solve their problems. Effective research is also the key to discovering the unique financial concerns of each niche market. Once you understand each niche's financial concerns, you can focus on the problems that you can get paid to solve.