HNW clients. You want ‘em. Everyone wants them. And you’ve likely gotten a dozen emails this month alone on how easy it can be to get more. But whether you’ve been in this industry for 1 year or 30, you know the truth: It’s not easy. It will never be easy.
But this advisor – the co-founder of a $750M practice in Pennsylvania – wants you to know that it can be surprisingly simple. And on our next webinar, he’ll show you how.
This is Michael Hudock. He is a longtime user of the Bill Good Marketing System and one of the sharpest advisors we’ve ever had the privilege of working with. Michael estimates that at any given time, at least 10% of his clients are providing him with referrals and introductions to HNW prospects. And, while he doesn’t choose to work with all of them, it’s no surprise that over the last two years, he has brought in over $50M in new assets from HNW prospects just from one source alone: His existing clients’ children.
His secret? Identifying the four generations in every family’s wealth cycle. (He’ll show you what they are, and which one is critical to getting more HNW clients.)
His method? A repeatable, four-step process for turning every qualified HNW individual within that cycle into a new client.
Swapping a Million-Dollar Mistake for more Million-Dollar Prospects
Here’s the thing. When it comes to HNW prospecting, most advisors are making one of two mistakes:
- They focus their efforts on the hardest-to-reach fruit on the tree, wasting time and money.
- They pay a company to do all their harvesting for them, getting mostly junk in return.
But you don’t have to do either of these things. While Michael generates prospects in many different ways, he’s found one in particular to be the most effective at yielding low-hanging HNW fruit: His clients’ children.
Once upon a time, Michael didn’t think this was a viable option. He thought he knew who had money and who didn’t. He thought he had to wait for clients to pass away before he could do anything. As Michael himself will tell you, he couldn’t have been more incorrect.
The Truth About Generational Wealth:
Since then, Michael has found that 75% of HNW investors over a certain age have at least one HNW child. Now, we don’t mean beneficiaries who will inherit wealth. You don’t need anyone’s help to find them. We mean children and other family members who have become independently wealthy. They have their own assets. (It all has to do with the four generations in a family’s wealth cycle.)
These are the single best HNW prospects you can ever have. Why? Because you already have a way to get introduced, making most of them just two phone calls away.
For Michael, most of these HNW children – who have since become HNW clients – routinely have $3M or more in investable assets.
But there are three potential problems with this route. First, it can sometimes be tricky to identify who these HNW children are. (Again, a simple list of beneficiaries is not going to necessarily give you this information.) Second, family dynamics can make getting in front of these HNW children surprisingly challenging. Third, you must do it before they cement a relationship with another advisor.
Michael’s process — And on this webinar, he’ll show you how you have much more gold already in your database than you were ever aware of before. This is real organic growth.
You’ll learn:
- The four generations in a family’s wealth cycle, and why you must identify the members of Generation #2. (This is the single biggest key to HNW prospecting.)
- How he uses the Bill Good Marketing System to get 10% of his clients continually referring him to HNW family members.
- How to master the four steps of Family HNW Prospecting:
- Identification – Finding the HNW children in your book
- Introduction – How to get in front of these children in an effective and timely manner.
- Engagement – The best ways to get HNW children – and all prospects – to start thinking of you as their advisor even before they sign the paperwork.
- Closing – The surefire way to convert HNW prospects into new clients.
Why this Information Leads to More HNW Clients
One word: Organic.
These days, every HNW investor and their dog has a dozen financial professionals trying to get their attention at all times. Why not focus on the ones where you already have an in?
Another word: Referrals.
Obviously, you already do your best to get referrals. But different niches and segments require different approaches. On this webinar, you will learn an approach that is optimized specifically for your existing HNW clients and their HNW family members. It’s the highest-quality fruit on the tree…but it’s not the highest-hanging.
Understand, we’re not talking about just getting in front of beneficiaries here and hoping you’ll retain the assets down the road. We’re talking about identifying, engaging, and closing the prospects who have millions NOW…and who are currently just two phone calls away.
Now it's Your Turn...
If you aren’t seeing many referrals come through your door, I’m telling you: Watch this webinar.
If you are having a hard time filling your pipeline with HNW prospects, don’t miss this webinar.
And if you feel like you are already having success in this area, but could stand to have a little more, don’t miss this webinar.
You will learn simple, repeatable steps you can take right now to find more HNW prospects and achieve more organic growth.
Michael J. Hudock Jr.
President & Founding Partner
Hudock Capital
Matthew Bailey
Director of Content & Head Writer
Bill Good Marketing
webinar recording
