How To Build a Successful Financial Advisor Business

March 15, 2021 • written by

I received a question about advice for getting a job as a financial advisor.

Hi! I’m planning to apply as Financial Advisor. Anyone who can help me? 😊

Here’s my advice:

Combine Online and offline marketing.

Build a database.

A database is a list of people, personal, and contact information that you update regularly.

You’ll call people to greet them on their birthdays and special occassions.

You’ll ask them about life and briefly announce what you are selling.

99% of the time, people in the database will reject you.

You’ll call people about 4-6 times a year and get rejected almost all the time.

That’s okay.

People buy on the 9th-16th contact.

The average sales person quits on the 3rd-5th attempt.

Keep growing and contacting your database.

Spend 100% of your time telemarketing.

Collect email addresses and phone numbers.


Aim to get clients who are in the 30’s to 40’s age range.

These people are easy to talk to.

People in their 20’s have an unlimited amount of drama and excuses.

Aiming to convince them is a complete waste of energy.

Your company may pitch you that you are saving people.

However, you are better off assisting people who cooperate.

Sell a combination of cheaper insurance like term, and traditional life insurance, instead of VUL if you are speaking to a first-time investor.

Proper investors know what they want and need so build your plan around their recommendation and not yours.

The top MDRT at my old employer taught us that financial advisors have zero lessons to teach clients who have money.

Clients who have money have money because of their expertise and we should learn from them instead.

That said, aim to build relationships with the right clients.

Focus on “their strategy” instead of your proposal.

Master your listening skills.


Schedule meetings daily.

If you have 3 meetings a day, and work 5 days a week, you’ll have 780 meetings a year.

If we presume that 99% of people reject your sales pitch, you are expected to sell 8 insurance plans that year.

That’s okay.

Your first two years is probably a combination of poor sales and mercy purchases and that’s okay.

You’ll get more consistent sales on your third year.

Aim to have 3 meetings a day when you’re starting out.

Online marketing

Post your notes in your blog.

Make the concepts that you learned easy to understand.

Write a 10 sentence summary of each concept.

Take a selfie video of yourself explaining your lessons when you have more than 20 blog posts.

Nobody will view your blog or YouTube channel.

Few people search financial planning or insurance.

Just check Google Analytics.

The main benefit of having an online presence is that you signal to your clients that you are legit and you are with them for the long term.

Guerilla Marketing

Write down what your prospects are selling on their database.

Help promote your clients on your blog.

Write posts about their products.

Buy from your prospect’s product and service.

Support businesses while they are small.

Do not expect anything in return.

If you want support for your business, you need to support others first.

Review your client’s products or service.

Interview business owners through your own podcast.

People enjoy having people to talk to so you’ll get more chances to have a meeting if you have more than “insurance or financial services” to pitch them.

You also won’t feel the full burden of rejection if people say no.

Funding your Financial Advisor Business

It’s always a good idea to have a money before you get into these business.

Many recruiters downplay the cost of getting clients.

You’ll need unlimited calls to Globe and Smart for telemarketing.

You’ll need some internet connection at home and when you’re out.

You’ll need to commute and pay for coffee or snacks when you meet client.

Bringing doughnuts and food to VIPs help push sales long-term.

Chances are 99% won’t buy from you this year and maybe 2-3% will buy next year.

Year 1 Expenses:

₱1,600 Globe+Smart with Unlimited call and text+ Some mobile data. ₱19,2000 a year.

₱12,000-₱30,000 Meeting Expenses. For transportation or Coffee with clients. The lower end is computed as you only spent on transportation. The higher end is computed as transportation and coffee. 3 meetings a day x 20 working days. ₱144,000 a year to ₱360,000 a year.

That’s it.

You may attend trainings, certifications, and other company events. You’ll probably spend less than ₱10,000 to participate in these activities.

Sales skills test.

Ask the person recruiting you to accompany you to a sales meetings since you are new.

If they say yes, call everyone you plan to sell to and ask for a meeting.

Here’s your script:

I’m considering getting a job as a financial advisor.

I’d like to know if our products and services are viable as a business.

I’d like to schedule a meeting to introduce you to my partner and show you what we’re selling.

I’d like to get your opinion.

You have no obligation to buy anything.

You’re allowed to purchase if you find anything interesting.

My main goal is to find out if selling the products and service makes sense for me as a career move.

I’m asking you because I trust you.

Are you available during lunchtime or after office hours?

Meet 40 prospects using this script and see if you sell 1 or 2.

If you don’t sell anything during the first 40 meetings, you can skip working as a financial advisor.

Part-Time Approach

Keep a regular job.

Meet prospects during weekends.

6 Meetings a week x 52 weeks a year = 312 prospects.

99% of prospects won’t buy from you.

If you sell 3 plans in the first year, you’ll be fine.

Downgrade your work arrangement to part-time when your sales income is worth more than your regular job.

Keep your part-time work.

Prospects generally don’t buy from people who look desperate for a sale.

If you look hungry or deprived, distrust and red flag warnings will go off in people.

Salary from a regular or part-time job will allow you to keep your professional image.

I probably talked too much at this point.

Let me know if you have questions.

I’ll do my best to answer during my off hours.

Thank you for reading this far and thanks for your attention.

I am praying for your success. God bless!

If you made it this far, you should introduce yourself.












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