[quote=scrim67

I figured after a few years many would consolidate with me and a few would consoldiate with their other advisor and many would have multiple advisors.

scrim

[/quote]

Now that you have been in the biz for 3 yrs, it's time to start focusing your attention on deepening the relations with your existing customers and turn them into clients.

That doesn't mean that you stop prospecting new sources of biz.  Rather, you add to that process, by having your face to face reviews with the main objective as gathering more of their existing assets.

"I want to make sure we are not duplicating what your other broker is doing, I want to look at the BIG picture.  So when we sit down on Thurs, bring in your other brokerage statements so I can make sure I am doing all I can to protect your assets."

At this stage in the biz, your biz model should be shifting more towards trusted advisor as opposed to salesperson.

"I want to make sure we are not duplicating what your other broker is doing, I want to look at the BIG picture.  So when we sit down on Thurs, bring in your other brokerage statements so I can make sure I am doing all I can to protect your assets."

Thats a good line... Timely these days...

One of the things I will do when I run into this is drop “hints” about how I

cannot promise how the clients’ “other stuff” will perform, since I can’t

really follow it. I never criticize their other broker or portfolio unless I

think it is seriously dangerous to their financial health. Then I will

suggest that they “ask” their other broker to make changes x, y, & z. And

I am only doing this to look out for my client. They will often get the

picture after a while that I am taking an interest in their finances, while

the other guy just collects trails or something. This is often the case with

"annuity hawks" - my term for the guys that sell annuities to teachers

with 3% annual expenses and 12 year surrenders. Most of my teachers

never hear from their broker once the account is opened. This is usually

the “spouse” of the client with money, but it can often be in the 6-figure

range. Not bad money to pull in from an existing client.