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Just as a well-rounded investment portfolio is crucial for your clients’ success, effective networking is key to professional growth. Networking isn't always just about gathering business cards or adding contacts to your LinkedIn profile – it's a judicious blend of social savvy and strategic conversation. Networking effectively can significantly enhance your visibility and open doors to opportunities that might otherwise remain closed, but that doesn’t make it easier.
Here are five ways every wealth management advisor can develop themselves and their pitch to become a networking pro, enabling more meaningful connections and fostering long-term, mutually beneficial relationships.
TURN UP OFTEN — CONSISTENCY IS KEY
Consider yourself an introvert and don’t know how to get the conversation started? Sometimes the easiest advice is the best – regular participation in networking events, seminars, and social gatherings doesn’t always mean being the life of the party. The more often you show up and are seen, the more likely people will consider you a regular, and gradually your confidence to strike up a conversation will grow.
SET YOURSELF A GOAL THAT FEELS GOOD
Not every networking event will turn out the way that you expect it to, but having goals for what you’d like to achieve can help you feel like you’ve got something productive out of your time. For some events, it might be a certain number of cards collected or new additions to your LinkedIn audience, whereas it might also be gaining a new perspective on an industry or segment you’re not familiar with, or picking up a skill that you hadn’t experienced before (everyone’s been to that sushi making networking event at least once).
MATCH THEIR ENERGY, BUT DON’T OVERWHELM THEM
Networking effectively requires adaptability, and connection requires mutuality — matching the energy level of those you meet to establish rapport is one thing, but dumping every detail into a first conversation can suck the air out of the room if there’s no legitimate reason to do so. Remember, not everyone you meet can directly help you reach your goals; therefore, it's crucial to remain authentic and avoid forcefully steering every conversation back to your own needs. Mutual exchange and repeated conversation help maintain your professional integrity and set the tone for future opportunities to benefit.
VOCALIZE YOUR VALUE PROPOSITION UNTIL YOU BELIEVE IT
Sometimes, it’s easy to gloss over what you can bring to the table, especially if you’re approaching a new situation with humility. It’s still incredibly important to be able to clearly articulate what sets you apart from the competition. Your value proposition is your unique identifier – rehearse your key points from a variety of perspectives (potential client, business partner, vendor, referral opportunity), so that you can communicate them effectively and find common ground quickly. Being able to adapt your elevator pitch on the fly leads to great connections and will make others take notice and remember you.
TELL ME ABOUT YOURSELF
Dale Carnegie’s pivotal advice in "How to Win Friends and Influence People" highlights the importance of encouraging others to speak about themselves. He suggests showing a genuine interest in others' experiences and passions. Actively listen and ask questions that prompt them to share more, aligning your responses with their topics of interest. By fostering this type of engagement, you not only create professional connections but also build supportive relationships that are deeply rooted in mutual respect and understanding.
Mastering these networking skills can dramatically enhance the efficacy of your sales as a wealth management advisor. Consider each interaction as a step towards expanding both your professional and personal network, increasing your influence, and securing your presence in communities that are meaningful to your growth.
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