Tag Archives: Clients

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Episode #42 The Power of Effective Networking for Financial Advisors – with Michael Goldberg



“I tried networking once. It didn’t work!”

Yes!  This is an actual quote from a financial advisor.  Sad!

Networking for financial advisors is not just going to networking events – which even “The Referral Coach” loathes. Networking is forming our own “community” of mutually beneficial relationships. And it can be done without ever going to a single networking event.

And don’t forget… It’s not called, “Net-sit” or “Net-eat.”  It’s called “Net-work” for a reason. Forming a great network of folks who can help you build your business does take some effort. The good news is that most of the time that effort can be fun!  

In this episode, Bill Cates interviews Michael Goldberg, author of Knock Out Networking as well as a consultant and trainer to financial professionals for decades. 

With unusually fun and lively banter, Bill and Michael discuss:

  • How Michael’s career as an amateur boxer (hence “Knockout Networking”) informs how he helps advisors become successful networkers. 
  • ​​Why effective networking for financial advisors goes beyond just attending events, emphasizing that it’s a verb that can be applied in a variety of ways, including social media (LinkedIn, etc.)
  • How the pandemic made people more intentional about networking, and how that intentionality is helping advisors achieve better results. 
  • Why and how focusing on a clear target market makes networking for financial advisors easier and more productive.
  • Michael’s three goals for networking events (if you do choose to go this route), and how to break the ice to have more meaningful conversations while you’re there.
  • The importance of preparation for networking events.
  • The difference between networking and selling, and how prospecting at events can be unattractive and off putting. 
  • How to answer the dreaded, “What do you do?” with Michael’s PEEC Statement formula.
  • The importance of time blocking and owning your calendar to manage your time properly and make the most of networking activities.
  • …And more!

 

Resources: 

Connect With Bill Cates:

Connect With Michael Goldberg: 

About Michael Goldberg:

Michael Goldberg has helped financial advisors, brokers, agents, reps, wholesalers, and other sales producers add hundreds of thousands of dollars to their bottom line.

His firm Knock Out Networking, LLC is renowned as a speaking and training resource in the financial services industry. Described by clients as “dynamic and motivational”, Michael is a master at invigorating and engaging audiences. His knock-out style is “in your face” and high energy. His content is real world and can be applied immediately. Michael speaks at conferences and associations, runs sales meetings, and delivers results-driven programs on networking, referral marketing, and sales presentations.

“It’s all about Connection” – Michael Goldberg

Boxing, like networking, is a contact sport. The more and better connections you make, the more wildly successful you will be. The state of growing a business and gaining more market share for your top performers is becoming more challenging. Despite technology and all that it has allowed us to accomplish, those with the most contacts, the best relationships, and a greater understanding of how to utilize them will achieve the most success.


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Ep. #26: How to Target Millennials as Financial Advisory Clients with Ivory Johnson, CFP®, ChFC



According to Forbes, “Millennials will hold five times as much wealth as they have today, and the group is anticipated to inherit over $68 trillion from their Baby Boomer parents by the year 2030. This will represent one of the greatest wealth transfers in the modern times.”

There are already approximately 618,000 millennial millionaires. Millennial millionaires make up approximately 2% of the total U.S. millionaire population. The majority of millennial millionaires have a net worth that ranges from $1 million to $2.49 million and fall  between the ages of 34 and 37.

Due to inheritances, trusts and estate planning, there will be a steady flow of Millennials getting very rich soon.

The reality is that many millennials and younger clients with huge upside want to work with financial advisors, just not in the traditional way. And, you don’t necessarily have to hire younger associates to attract these younger clients.

In this episode, Referral Coach Bill Cates is joined by Ivory Johnson, CFP®, ChFC, and founder of Delancey Wealth Management. Ivory and Bill explain the importance of attracting a younger clientele, how to target millennials by adjusting your approach, and how this will benefit your business.

Bill and Ivory discuss:

  • Why Ivory believes it’s important to work with younger clients – especially the adult children of his older clients.
  • How to target millennials as advisory clients. 
  • 2 important questions Ivory asks every client in order to become more relevant and helpful to them.
  • How Ivory deals with younger clients and the fun part of working with them.
  • Why advisors need to have a social media presence to attract millennials.
  • Ivory’s optimism for technology and digital assets.
  • and more

Resources: 

Connect With Bill Cates:

Connect With Ivory Johnson:

About Our Guest:

With over two decades of helping families and small businesses create and protect wealth, Ivory Johnson has seen the benefits of developing a financial game-plan. Ivory combines his extensive professional and academic experiences to diagnose an increasingly complicated world. He believes that if you can’t explain it, you don’t understand it, choosing the colloquial in favor of formal.

Ivory has a B.S. in Finance from Penn State University, is a Certified Financial Planner (CFP®), a Chartered Financial Consultant (ChFC) and has been recognized by the Global Blockchain Association and RIA DAC for his proficiency in blockchain technology and digital assets. He is also a member of the CNBC Financial Advisor Council made up of 20 high-level financial professionals, and regularly contributes articles to CNBC.com, and has been quoted in Investment News, the Wall Street Journal, Black Enterprise, Money Magazine, Kiplinger’s and other publications.