We need to tell you something really important. As a Financial Advisor, you may not be aware of the most important asset you have available to you. It’s social capital.
The best way to understand social capital is by thinking about your relationships with your clients. They trust you with their financial assets. But do they trust you enough to bring you into their circle by warmly introducing you to the people they know, people who are just like them? That’s social capital. It leverages your relationship with one great client into a relationship with many new great clients. And your business soars.
Social capital is the outcome of the strong, permission based relationships you can have with most of your best clients. It’s where you can ask and most of your clients agree to make introductions to their qualified friends, colleagues and family. Because they want to. Social capital introductions bear no resemblance to standard referrals. These qualified introductions are given because you’ve established a unique connection.
So, how do you acquire social capital? Most importantly, it’s driven by having a compelling marketing story (see post – The Bad News. Your Marketing Story Sucks!) that subtly addresses your clients’ worldview of Financial Advisors and the Financial Industry that they are Darth Vader’s working for the Evil Empire. (see Darth Vader post)
A compelling marketing story is what differentiates you and makes you remarkable. It’s what moves your qualified clients to share your story with their qualified circle – talking to them about what you are, not what you do. With it you will create a consistent stream of quality growth month after month, year after year.