Ep 027: Reaching HNW Prospects Leveraging Targeted Research And Introductions with Amy Parvaneh

Financial Advisor Success

Michael Kitces

News, Business, Entrepreneurship, Business News

4.8 • 696 Ratings

🗓️ 4 July 2017

⏱️ 92 minutes

🔗️ Recording | iTunes | RSS

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Summary

Amy works hard to help financial advisors grow through targeted referrals to high net worth individuals. She accompanies marketing skills with sales development to make sure those leads convert to clients. She calls upon her experience at Goldman Sachs accruing $50M in AUM in just 18 months through highly-targeted cold calling and emailing.

Additionally, she shares her unique methods for finding wealthy individuals. She would go so far as to take pictures of the donor lists at art museums and research the events that these wealthy donors would make great clients. Then, she would reverse engineer a pathway to connecting with them.

In this episode, Amy also covers the places, both digital and physical, she recommends visiting to meet the new rich. If you are going to crack into this population, it is better to start with people who have just come into money. They won’t have as many entrenched service providers already in place.

Get the full show notes and transcript for this episode at: www.kitces.com/27

Transcript

Click on a timestamp to play from that location

0:00.0	Welcome to the Financial Advisor Success Podcast, where you go behind the scenes with financial planner,
0:08.4	speaker and consultant Michael Kitsis to hear stories of how leading financial advisors
0:13.6	navigated the inevitable challenges that arise on the path to success and get insight from leading
0:19.2	industry consultants about how to break through to the
0:22.0	next level in your advisory business. And now here's your host, Michael Kitsas. Welcome, everyone.
0:29.3	Welcome to the 27th episode of the Financial Advisor Success Podcast. My guest on today's podcast is
0:35.3	Amy Parvana. Amy is the founder of Select Advisors Institute,
0:39.3	a practice management consulting firm with a focus on helping financial advisors to grow through
0:43.7	targeted referrals of high net worth prospects and providing them the sales and business
0:48.3	development coaching that's needed to ensure those prospects actually close when the opportunities
0:52.9	come. But what's fascinating
0:54.7	about Amy is how she put these techniques to use in growing her own career as a financial advisor.
1:00.4	Because Amy started out as a 26-year-old working in wealth management at Goldman Sachs and managed
1:05.8	to grow our asset base to more than $50 million in just 18 months, primarily through
1:10.6	cold calling and cold emailing.
1:13.5	But Amy just didn't target anyone with her cold calling and cold emailing efforts. Instead,
1:18.3	she executed a highly targeted research-based effort to network her way directly to specific
1:24.2	high net worth prospects by figuring out exactly what it would take to reach them
1:28.1	and how to get to them. In this episode, Amy talks about the exact strategies that she used
1:33.3	to succeed in business development with those ultra-high net worth prospects and from such a young
1:37.7	age, the way she researched them to figure out exactly what the best way was to work around
1:42.5	their gatekeepers and reach them.
	...

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