How to find clients: maximise your network to generate leads

The process of finding quality clients generally involves four key stages: research, outreach, building relationships, and conversion. Each phase requires both skills and strategies. However, the biggest hurdle for many is knowing where to begin. A great place to start is looking at your existing network to secure a few clients fast.

When we think of finding clients, we usually think of marketing tactics, such as maintaining a strong online presence with your own website and social media posts. However, you can make use of your real-life connections, too, and this is sometimes a more fruitful way of winning those first few clients quickly.

Here are three questions to help you get started in leveraging your existing network, along with practical pieces of valuable advice from our own financial advisers and employees that will help guide you towards a focused and effective strategy – with the right mindset to attract clients that support your success.

Who’s already in my immediate network of potential clients?

Start close to home. Sometimes, prospective clients are closer than you think. Start by examining your current network to attract more clients from – your family, friends, colleagues, and their connections – and reach out to them asking if they’re either looking for financial advice themselves or know someone who is. Reaching out to your current network can help you secure your first client.

Even if your immediate circle isn’t actively seeking financial advice, or might not be right for you as a new client, they can still provide a gateway to their broader networks, opening up the door to valuable introductions and a chance to build relationships and additional leads.

“If you go down the friends and family route, you just need to do upfront contracting with them. You do this in a glass box.”* – Declan Lamyman, Principal at Lamyman & Co Wealth Advisory, Partner Practice of St. James’s Place Wealth Management.

Tip: Declan’s ‘glass box’ metaphor refers to the importance of transparency and clear boundaries. When engaging with individuals within your close circle, it’s important to set clear boundaries and expectations, keeping your professional and personal relationships separate. By using this “glass box” strategy, you ensure that the client-adviser relationship remains distinct, yet visible and transparent. This approach creates a safeguard for both your professional and personal connections, giving both you and them peace of mind that one won’t negatively impact the other.

Where do I spend a lot of my free time?

Go where you’re already active. When looking for more clients, consider the places where you spend most of your free time outside of work.

Whether it’s at a sports club, community organisation, or a weekly webinar event, these activities often reflect your personal passions and interests, which are typically central to your brand, niche, and value proposition. These environments tend to attract individuals who share similar interests and are likely to be part of your target audience, and therefore make these spaces ideal for networking.

Participating in Facebook groups and social media platforms related to your real-life activities can help back up these real-life meetings, and connect with potential clients online.

“I approached my local golf club to see if I can work from there on a Friday, so people can come and speak to me and have a financial advice health check.” – Miriam Murphy, Financial Adviser, Hall & Costello Wealth Management, Senior Partner Practice of St. James’s Place.

Tip:  Start engaging and building relationships in these settings, and connect to initial clients through shared interests. Subtly introduce your expertise, making them aware of your brand and availability to offer financial advice when needed - it’s a natural and non-salesy way to secure clients built on authenticity.

Which professional connections are nearby?

Seek local professionals to get clients. Explore and form partnerships with local professional connections, or other businesses such as accountancy or legal firms, to benefit your financial consulting business. Relevant groups like these professional networks can help you identify and connect with other industry peers who may be seeking financial advice, boost your brand awareness, and strengthen your position in the industry. They also offer valuable opportunities for partnerships, referrals, and mutual support. You can do this by leveraging your existing clients or through proactive outreach to find new clients.

“Make sure you have the right personal fit with any professional services you collaborate with. For example, it may be that you’re a similar age or at a similar stage of your career. Remember to talk about your specialism. It’s all about educating that solicitor or accountant as to the value you can add to their clients”. - Andrew Livingstone, Wealth Management Consultant, St. James’s Place Wealth Management.

Tip: When researching nearby professional connections, it’s important to do your due diligence on their values and reputation. Ask yourself: who do you want to be associated with, both personally and professionally?

Remember, it’s a reflection of you and your brand. Identify individuals, small business owners, or firms with a strong presence in your community and ideal clients that align with your target market, ensuring that these connections will enhance your credibility and networking potential. Attend seminars, workshops, and events hosted by these firms, engage with participants, build rapport, and present your services and collaborative opportunities.

Don your business owner hat to win clients

By asking yourself these three questions, you can improve your client acquisition strategy, balancing both strategic planning with opportunistic thinking to get clients. With a combination of research, thoughtful engagement, and persistent relationship-building, you can build up a well-rounded potential client acquisition strategy. This will help you identify and seize opportunities, gain valuable insights, develop meaningful connections, and strengthen your brand, ultimately driving sustainable growth for your business.

Our award-winning Academy gives you the qualifications, knowledge, and practical experience you need to start your career in financial advice. As the largest financial adviser training programme in the UK, we’ll support you every step of the way: whether you want to start your own business or join one of our existing practices. Even after you graduate, we’ll continue to support you as you progress in your career, helping you build up your personal branding and identity, and thrive as a financial adviser with a successful business.