The financial services industry is not run by monks. The advisor doesn’t get up, goes to work, goes home, eats dinner and goes to bed, and repeats the process the next day. Some people who invest in no-load funds or commission-free frequent trading sites may think that the work is unpaid and done by volunteers, but advisors are like everyone else. They have personal lives and they enjoy them.
It would be great if I could balance work and play. Imagine being able to spend time with the right people, have fun and do business at the same time! That’s when you join a community.
What do advisors do when they’re not working? Attract wealthy investors I researched advisors and learned about seven popular leisure activities. (Percentages slightly exceed 100% due to rounding.)
1. Family – children’s sports (26%). The most popular category. They cheer kids on school sports and little league. They are involved in children’s lives. They are sideline parents.
business chance: Years ago, a woman at the gym (who was a parent) explained, “Every year around this time, your friends are chosen for you.” If so, you’ll be attending home and away games with the same parent for months. Make an effort to get to know them. who are they? what do they do? where do they work It’s easy.
2. Individual sports (25%). Playing golf was an almost universal response. Depending on the advisor’s age, this may include playing sports such as basketball. Tennis and running are addictive regardless of age.
business chance: When you play golf, you have many opportunities to interact with wealthy people. At my previous company, I was once told that if I were to run a business, I would choose between golf and wine trucks. As an advisor, Golf provides opportunities to meet others at the club, entertain clients, and ask friends to invite.
3. Religious activities (22%). Attending weekend services is not a sport, but it is a regular activity. It’s often the same person sitting in the same seat at the same time every weekend.
business chance: Religious services bring together a cross-section of the population. Unlike investments, there are no minimum asset requirements. There are multiple opportunities for volunteers in the congregation. This is a great way to give back. They also provide opportunities for interaction and get to know each other on an equal footing.
Four. Watching sports (11%). Most people have a favorite team. They gather their friends at home to watch the big game. They have season tickets at the stadium. They tailgate before the game. They visit sports bars.
business chance: Sports fans are a friendly bunch as long as they support the same team. Having his ticket for the season allows you to get to know the people sitting around you. I meet people when I’m overtaking. You are sure to find your favorite sports bar.
5. Chambers of Commerce (7%). You may not think of the Chamber of Commerce as a leisure activity. It may look more like a business activity. Let’s expand this category to include non-profit organizations. People get involved by meeting like-minded individuals. They share common interests.
business chance: The more events you attend, the more people you can meet. Since these are local organizations, you will meet the same people at other local events. you will be a regular.
6. Alumni association (7%). This is a big factor when the school is local, has a full-fledged sports team and a large stadium. For example, Penn State University has over 750,000 alumni. Beaver Stadium at State College can accommodate his 107,000.
business chance: You can attend events that draw people across age and wealth categories. What they all had in common was that they all went to the same school. School means something to them if they attend a reunion event.
7. Service club (7%). A few community service organizations come to mind. You can put volunteers there and add other people who are not mostly social. You can add some societies here too. A common factor is that members enjoy themselves by serving others.
business chance: Some members are primarily business owners who must follow these steps in order to be accepted as members: Local chapters are small enough that members tend to get to know each other well.
The common factor in all these organizations is that engagement gives people joy. Those who participate enjoy what they do. Mixing business is easy if you’re resourceful.
Bryce Sanders is President of Perceptive Business Solutions Inc. He delivers his HNW client acquisition training for the financial services industry.his book attract wealthy investors Available on Amazon.