Breathe Life Into Your Wealth Management Practice

Wealth ManagementReinvigorate your wealth management practice with new techniques and tips

When it comes to growing your practice as an independent financial advisor, do you feel burnt out? Launching and growing a wealth management practice is hard work, and some advisors will hit a plateau and feel stuck. While you may have launched your business with the best of intentions to work with clients one-on-one and help them reach their financial goals, you may have realized large amounts of non-client related work is also necessary.

Between marketing, selling your service, building a reputation, and possibly managing employees, you might feel like you have little time to spend on what you are passionate about – helping clients.

So, how can you breathe new life into your wealth management practice? By focusing on a few keys areas that can help with growth, and streamlining processes, you might be able to free up time (to spend with clients) and build your business simultaneously.

Build Solid Relationships Over Time

First, it is crucial to understand that building any financial practice takes time and nothing happens quickly. Creating short, mid and long-term goals from the start can help you feel like you are continually achieving things along the way. For many advisors, it can take several years to establish a solid reputation in their industry. This gives you ample time to create long-lasting relationships with clients, who will in turn refer you through word of mouth. Though trusted relationships don’t happen over night, there are some marketing and business techniques that can help build even stronger relationships and get your message out to the right audience.

Specialize and Stand Apart

Picking a niche area to specialize in can help you stand out from your competition. Perhaps you are the retirement planning guru, have a passion for helping women invest, or consider yourself a stock expert who can help aggressive investors. By choosing a specific area to build your business and platform in, you can become an expert and valuable asset for people with those particular interests.

Reconnect with Clients

Relationships within your wealth management practice will be built during time spent one-on-one and also through your communications such as email, marketing, articles, newsletters and more. Care about the content you create and make it relatable, offering people tangible tips and pieces of advice that will create a desire within them to want additional content. Also, get them engaged by asking what topics they want more information on, and offer this information through webinars, seminars, blog posts, email blasts and more.

Consider Volunteering

Have a cause or community that you are passionate about? Consider volunteering in the community. This will help you build additional relationships with others who have something in common with you.

Speak with No Agenda

Public speaking – from in-person seminars to Facebook live Q&As – offers you a chance to connect with an audience who has an interest in a specific topic. When independent financial advisors host a public event, many people believe they are going to be sold something at the end. Rather than looking at speaking events as a chance to sell services, look at them as a way to educate others and build relationships. When guests can take the information you shared and use it in their lives, and didn’t feel pressured, they are more likely to reach out to you to learn more and possibly work with you.

You may have tried building your financial advisor practice in the past through some of these areas. Perhaps it is time to rework your technique or strategy in order to breathe new life into your business. Get creative, help out and get to know people in your community, update your marketing strategy, and let your clients see you put their needs above anything else. Implementing some of these strategies can reinvigorate you and your financial practice.


Learn more tips to grow your business at Summit Brokerage. Summit Brokerage Services has been voted the #1 boutique independent broker dealer in the country. Let us show you why! To experience the Summit difference, learn more about our network of independent financial advisors, and begin creating your financial planning documents, visit or call us at (800) 354-5528.


About Summit Brokerage Services, Inc.

Summit Brokerage Services is part of Cetera Financial Group. Summit Brokerage provides a broad range of securities brokerage and investment services to primarily individual investors. Summit Brokerage also sells insurance products, predominantly fixed and variable annuities and life insurance through its subsidiary, SBS Insurance Agency of Florida. Summit Brokerage also provides asset management services through its investment advisor, Summit Financial Group, Inc.


About Cetera Financial Group

Cetera Financial Group® (“Cetera”) is a leading network of independent retail broker-dealers empowering the delivery of objective financial planning advice to individuals, families and company retirement plans across the country through trusted financial advisors and financial institutions.  Cetera is the second-largest independent financial advisor network in the nation by number of advisors, as well as a leading provider of retail services to the investment programs of banks and credit unions.

Through its multiple distinct firms, Cetera offers independent and institutions-based advisors the benefits of a large, established broker-dealer and registered investment adviser, while serving advisors and institutions in a way that is customized to their needs and aspirations.  Independent financial advisor support resources offered through Cetera include award-winning wealth management and financial planning and advisory platforms, comprehensive broker-dealer and registered investment adviser services, practice management support and innovative technology.  For more information, visit

*”Cetera Financial Group” refers to the network of retail independent broker-dealers encompassing, among others, Cetera Advisors, Cetera Advisor Networks, Cetera Financial Institutions, Cetera Financial Specialists, First Allied Securities, Girard Securities, and Summit Brokerage Services.


All information herein has been prepared solely for informational purposes, and it is not an offer to buy or sell, or a solicitation of an offer to buy or sell any security or instrument or to participate in any particular trading strategy.


Content created by Summit Brokerage Services, Inc.

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