Updated Tuesday, July 22, 2014 as of 7:26 AM ET
Blogs - The New Generation's Practice
Getting Referrals for Your Niche
Monday, August 5, 2013

I recently spent a whole day out of the office visiting local fee-only planners. I spent time with my first firm, which manages $100 million in AUM; I also visited two planners whom I had never met. One was a solo practitioner running a lifestyle practice; the other was an owner of a firm with $450 million in AUM.

Thereís not necessarily a lot of overlap between their target clients and mine. So my goal with all three meetings was to help them understand immediately who my ideal client is -- and when to refer clients to me.

I launched my RIA,Finance for Teachers, just a couple of months ago. My days are consumed right now with building brand awareness and exposure, both in the advisory community and the teaching world. Because of the niche brand that I have created, this has been a lot easier and more successful than I imagined.

When talking with these advisors about my practice, they all asked whether, if they had a teacher who was not an ideal client, they should send that person to me. (My answer, of course, was yes.) They then started to brainstorm their client, prospect and friend lists to come up with some potential referrals.

Iím not expecting that all referrals will be that easy -- but Iím hoping that because my company name and target are so specific, any teacher that crosses these advisorsí path will automatically trigger a thought of my firm.

My question to you: Do other planners or professional colleagues know your ideal client profile? If they donít know who, specifically, they should refer to you, you may be missing out on business.

(1) Comment
Enter the Certified Medical Planners(TM)

There is no certification program, course of study or professional designation for FAs who wish to enter the lucrative financial planning space serving physicians and healthcare professionals.

That's why the R&D efforts of our governing board of physician-directors, accountants, financial advisors, academics and health economists identified the need for integrated personal financial planning and medical practice management as an effective first step in the survival and wealth building life-cycle for physicians, nurses, healthcare executives, administrators and all medical professionals.

Now - more than ever - desperate doctors of all ages are turning to knowledge able financial advisors and medical management consultants for help. Symbiotically too, generalist advisors are finding that the mutual need for extreme niche synergy is obvious.

But, there was no established curriculum or educational program; no corpus of knowledge or codifying terms-of-art; no academic gravitas or fiduciary accountability; and certainly no identifying professional designation that demonstrated integrated subject matter expertise for the increasingly unique healthcare focused financial advisory niche ... Until Now!

Enter the Certified Medical Planner(TM) charter professional designation.

Ann Miller RN MHA http://www.CertifiedMedicalPlanner.org

Posted by Ann M | Thursday, July 03 2014 at 8:27AM ET
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