According to marketresearch.com the affluent segment of the population in the United Stated can be divided into 3 groups:

• Mass Affluent: Annual income of $75,000 -$99,999 per individual
• Highly Affluent: One or more adults per household with a combined annual income of $100,000-$149,000
• Super Affluent: One or more adults per household with a combined income of $250,000 or more

As a financial advisor this is your ideal target market, you should be focusing on them to gain the most profitable sales. That’s old news, you already know this. The question you should be asking yourself is, how do I get in front of these high net worth investors?

Mass marketing to target this group is not the answer. This segment lives differently, spends differently and it takes a different marketing plan to reach them. This is a group that is highly educated. They know what they are investing in and they do not throw their money around. To put it in perspective, according to a study done by the Luxury Institute only 14% of the affluent shopped at the high end store Lord & Taylor—the majority of shoppers, 66%, shopped at Target. Do not make the mistake of thinking that high end investors don’t shop around for a good deal and quality service. They do.
The most important skill in sales is connecting with people. A real connection stems from one-on-one dialogue with everyone you meet. Simply put effective networking. Where can you connect with potential affluent clients?

Immerse yourself in their world. You have to be where they are. You must live, work, and play among them. Find high end networking opportunities and attend them. However, to actively network with them you should implement a follow up method with them.

The Affluent want a highly responsive advisor who promptly returns phone calls and emails. A high-net worth individual is looking for an advisor that has professional designations and licenses that provide a high level of service that provides more overall contact.

Pick your method of contact. When choosing your method of contact with a high-net worth individual, pick the most effective method for what you’re interested in emphasizing.  

• Email - can be casual or professional
• A call or voicemail - your tone can express your energy or attitude
• A handwritten note - an example of pronounced effort on your part

Make yourself available. You never want to give the impression that you are too busy for more business. A high-net worth individual is more likely to refer you clients if they know you are always available to help them find answers to their investment questions.

Keep in touch. Don’t lose contact after the sale has been made, the initial sale is just the beginning of the relationship. By maintaining contact with your Affluent clients, you leave the door open for more sales opportunities and maybe more importantly, referrals. Their circle of influence can lead to more business then you ever imagined.

Now that you have the secret weapons, get out there and begin immersing yourself in their world, communicate with them in a timely manner, and don’t forget to maintain contact with them.