One of the more common questions that financial advisors ask is, "What's the best way to get an affluent client's attention with a sales letter?" Let me share with you excerpts from some letters that have done very well.
This is from a letter I wrote for a client called "Financial Peace Of Mind"
Dear-, When I decided to become a financial advisor I did it with one goal in mind: To give individual investors the perspective and recommendations they require to keep their portfolios safe and growing even during the most difficult of times.
The tech bust of 2000 ... real estate bust of 2007 ... credit crisis of 2008 ... recession of 2009 - throughout it all of my clients have breathed easier knowing that their advisor was communicating with them-often daily-with ideas and suggestions they needed.
I believe that the reason why this letter worked so well was that my research of the affluent suggested that a major complaint they had about their advisors was a lack of communication. This was especially the case during the recent economic meltdown when there was precious good news to communicate.
Unfortunately many advisors became uncomfortable and as a result reduced the frequency of their communications with clients. That was a major mistake and is probably one of the top 3 reasons why there has been such a churning of advisors in the past 6 months. The communication issue is addressed very early on which serves as an excellent hook that draws the reader in.
Let's take a look at another example. This is the beginning from a letter I wrote for a client called "Shoring Up Your Financial Future".
Dear-, As I grow older, the number of people I meet who are near, or close to retirement continues to grow. Certainly, while they're all mentally prepared for leisurely rounds of golf, time spent watching the grandkids, and languid walks on the beach, very few of them are financially prepared to realize their cherished dreams.
I also have many younger friends, people still in their prime and just starting their careers. They're many decades away from retirement, and they've fallen victim to the mindset of those whose career horizon stretches out far into the distance. Although they "Talk" about investing for the long term, their actions...lavish spending...living paycheck to paycheck, ignores the future that will soon become their reality.
The response to this one was even greater than I hoped. The advisor I wrote this for felt that readers could really relate to the reality and how true the letter was.
Finally this is a letter I wrote for another advisor called "The Big Picture". The target here were highly affluent investors who like to take an active role in their investing. They want to align themselves with advisors who will bring them interesting ideas and who are smart "big picture" thinkers.
Dear-, Of all the questions my clients ask me the fundamentally most important question is...What's the BIG PICTURE trend?
It's my opinion that this is what your financial advisor should be focus on. What this means specifically is being able to advise you on...
Where is the economy headed?
How are the credit markets behaving?
How is the Federal Reserve going to react?
How are the markets responding to the Fed's actions?
And more specifically: What are the biggest crises brewing, and how can we profit from them...?
The tone reflected a "team-based" approach that resonated very highly with this targeted group of affluent prospects. The use of bullet point makes the letter more readable and gives it "eye appeal".
However the letter is only the first step in the relationship building process. Unfortunately far too many advisors don't fully think through what they want the call to action to be. In other words, what do you want the reader to do once they have finished with the letter?
Our experience is that the most effective calls to action are either 1) offers of additional information or, 2) a statement that the writer will be calling to arrange for an appointment in the next few days. I remember that on numerous occasions that that if the letter seems "on point" I would give it to my secretary with the directions that "If this person calls go ahead and schedule a brief meeting."