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As a good neighbor, you give back to the community. As an agent or advisor, you would like to come across some high net worth prospects. Can these two activities peacefully coexist? Of course.
It can be easier to meet HNW individuals socially compared to getting them on the phone. Here's why: Local nonprofits need to raise money to operate and deliver on their mission. They are looking for philanthropists, people with money to give away. What do agents and advisors want? People with assets. It stands to reason, if people have money to give away, they must have assets!
Museums and cultural organizations do all the heavy lifting. They've identified these people. They've gotten them through the door. They signed them up as members. They've cultivated them as donors. They put 200 of them into a room from time to time. Enter the agent.
|4 characteristics
If you want to mingle with HNW individuals, the ideal organization should have four characteristics:
1. Attract HNW individuals. That makes sense. These organizations usually publish annual reports listing donors by level. You want groups with lots of people giving $ 1,000+.
2. Opportunities to meet them. The ideal organization puts 200+ people in a room once a month.
3. High visibility. You want name recognition. When you mention the organization, everyone's heard about it. You don't need to say: "Here's what they do…"
4. Positive impression. You want an organization that is not controversial. You can give back to the community in many ways, but if you are going to raise your visibility and perhaps become a leader, you don't want an issue that divides the community. Let's assume people now know your name (and what you do) in the context of the organization. Some people who feel strongly about an issue will proclaim "I would never do business with her" because you are on the other side of an issue.
|Is passion important?
Passion isn't as important as you think. Museums aren't full of art historians. Everyone who goes to the symphony isn't a music major.
If you have a sincere interest, that's great! If you have a sincere desire to learn, that's great too. People who are passionate about something like to share their passion with others.
You are giving back to the community.
Bryce Sanders is president of Perceptive Business Solutions Inc. He provides HNW client acquisition training for the financial services industry. His book, "Captivating the Wealthy Investor" can be found on Amazon.
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Bryce Sanders
Bryce Sanders, president of Perceptive Business Solutions Inc., has provided training for the financial services industry on high-net-worth client acquisition since 2001. He trains financial professionals on how to identify prospects within the wealthiest 2%-5% of their market, where to meet and socialize with them, how to talk with wealthy people and develop personal relationships, and how to transform wealthy friends into clients. Bryce spent 14 years with a major financial services firm as a successful financial advisor, two years as a district sales manager and four years as a home office manager. He developed personal relationships within the HNW community through his past involvement as a Trustee of the James A. Michener Art Museum, Board of Associates for the Bucks County Chapter of the Fox Chase Cancer Center, Board of Trustees for Stevens Institute of Technology and as a church lector. Bryce has been published in American City Business Journals, Barrons, InsuranceNewsNet, BenefitsPro, The Register, MDRT Round the Table, MDRT Blog, accountingweb.com, Advisorpedia and Horsesmouth.com. In Canada, his articles have appeared in Wealth Professional. He is the author of the book “Captivating the Wealthy Investor.”
