Strategy Highlights

Week 10
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Strategy 3: Work with the Right Affluent Clients

Design your client avatar

To attract exactly the right clients and then serve them extremely well, you must identify them with laser-like accuracy. To say you want to serve affluent clients is not nearly enough; you must drastically narrow your focus to one specific type of client. Rather than being something to everyone, you will be everything to a select few.

Begin envisioning your ideal client by creating an avatar. This is simply a visual representation of your perfect client that will guide you as you build your business to attract and serve your ideal clients. To create your avatar, answer these questions about your ideal client:
Once you have answered these questions, you will have a vivid, detailed picture of your ideal client.

Define your ideal client profile

Next you will incorporate your avatar into a larger, more formal framework—the ideal client profile. Your ideal client profile will become a valuable tool for helping ensure that you work only with optimal clients. Craft your ideal client profile by considering each of these eight client characteristics:
  1. Description. Who are the ideal clients that you want to attract?
  2. Geographic location. Where are your ideal clients located?
  3. Amount of investable assets. How much does each ideal client have in investable assets?
  4. Minimum AUM and fee. What will be the minimum level of assets and minimum fee you will charge your ideal clients?
  5. Financial challenges. What are the key financial challenges of your ideal clients?
  6. Source of acquisition. What is the optimal way to acquire your ideal clients?
  7. High-net worth personality. What is the high-net-worth personality of your ideal clients?
  8. Passion and commitment. Are you passionate about serving your ideal clients? Are you committed to doing what it takes to be their hero?