Smart Prospecting: What is a Financial Advisor Power Hour?

power hour prospectingIf you’ve read my blog for the last 11 years, you know that I’m a big believer in being productive, spending time prospecting, and being focused on people! These are the key business tasks that make a big difference in growing a financial advisor’s income. Having a Power Hour will help you maintain the right FOCUS on these key activities.

The 3 P’s:

  1. Productivity – Do you avoid prospecting, which results in lower productivity?
  2. Prospecting – Are you procrastinating about calling prospective clients?
  3. People – Who are the warm prospects or clients that you need to call?

What is a Power Hour?

A power hour is a block of time reserved for exclusively contacting prospects and clients.

How to organize your Power Hour:

Designate one hour per day as your Power Hour. Give yourself one hour where you do nothing but make the calls you’ve been avoiding. Feel the satisfaction from getting the nagging calls off your list.

Your Power Hour Mantra:

  • Make the calls!
  • Do the follow up!
  • Get it done and out of the way!

Here’s the nitty gritty for how you do it:

  1. Figure out a time each day when you should do your Power Hour.
  2. Block time on your calendar.
  3. Make a list of who you need to call.

And then DO IT!

Once it’s done, imagine the feeling of accomplishment you’ll have. You can go about your day knowing you got the tough part of your day out of the way.

Prospecting Tips:

  • Use your Power Hour mainly for contacting prospects. Do it without excuses! Before you even sit down in your chair to begin your Power Hour, make sure you’re set up for success. Do what you need to do so that you won’t make excuses to pause or stop your Power Hour. Hit the restroom. Get a bite to eat. Tell your team members that your Open Door Policy is on hold at the moment. Ensure that nothing will distract you.
  • Don’t allow incoming phone calls to take you off task. Set expectations with clients and centers of influence that during your designated Power Hour time, you will not be available.
  • Exit your email program. Email is a huge distraction with it’s dinging and pop up messages. Your avoidance gremlin absolutely loves email because you get to put off what you don’t want to do which means you may not get back to your Power Hour.
  • Have absolutely no distractions. No open Internet browsers. No Facebook. No LinkedIn. No Twitter.
  • Don’t answer your phone! Don’t do it! If you allow any activity to interfere, your avoidance gremlin will win!
  • Gather your list of warm prospects and phone numbers and just dial, dial, dial!


Just like you should create your Ideal Work Week, your Power Hour should be scheduled and taken seriously. Put your schedule of Power Hours in your calendar, on post-it notes, on your computer monitor, whatever you need it to be to stay committed to your success!

If you maintain a commitment to complete your Power Hour daily, you will see improvements in your prospecting results!

Don’t have a list of people to call???? Here are some questions we can coach around:

  • Do you have a list of warm prospects? If not, start one.
  • Do you need to get out of the office more frequently to gain exposure to a new set of people?
  • Do you need to step outside your comfort zone to grow your practice?
  • Do you need to let go of the fear of prospecting?
  • Do you have sales call reluctance? It’s a “thing” and I can help you with it!
  • Do you need to call your own clients more frequently rather than when there’s an emergency? Then, put your clients on your list!


Don’t know what to say during your calls? Work with me and get my Phone Prospecting Procedure that will help you cover the key points in creating rapport, building relationships, and asking for the business. Request a consultation to learn more!


Branded Financial Services are Easier to Sell

Brand your financial services to stand outFor many years I’ve been speaking about how branded financial services are easier to sell.

If you’re like most financial advisors, your services sound pretty much like all other financial advisors. You offer financial planning and investment management, usually to anyone who needs it.

Nevertheless, prospective clients who are considering hiring you are probably shopping other financial advisors, who sound similar to you in scope and price.

Brand and stand out!

So, how do you differentiate your firm from heaps of competitors who sound just like you? How do you stand out from the crowd?

How many times in the past year have you had a financial planning or investment management client call you to say, “Hello, yes, I’d like to buy financial planning with your firm, please”? Probably not often.

Wouldn’t it be great if you could brand your firm and your financial services so that it was clear WHO you are and WHAT you offer, and nobody could come close to competing with you?

Wouldn’t it be great if you could brand your firm so that getting to “yes” is easier, using less of your budget on marketing, and making a distinctive name in your business community?

Financial services can be branded!

Financial services like financial planning and investment management are not tangible to the general public. You can’t unwrap a box with financial planning inside. You can’t run your hands over investment management or turn it around to see it from different angles.

When services are not branded, the only differentiating factor is PRICE. When you compete on price, nobody wins.

When prospective clients shop on price, what happens? If you’re the low price leader, and you’re attracting clients based on price, you’ll have less profit to pay for overhead. You won’t be able to afford quality team members to service your clients so you may end up with greater employee turnover and less ability to take time off to vacation and enjoy your life.

Emotional decision

When consumers can’t differentiate your firm from others, they go through a bevy of emotions about working with you. Think about these emotions. Do they feel skepticism? Do they feel fear? Do they feel confusion? Of course they do! They don’t know you from Adam and they fear that they could be making a mistake.

It’s your job during the sales process, to put them at ease by showing that you understand their challenges and by giving them something concrete that they can walk away with and examine on their own time. This “something” is demonstrated in your branded services.

What are you selling?

You may not realize what you are actually selling. You are not selling financial planning. You are not selling investment management.

The Ritz Carlton is a high quality resort that attracts affluent business owners and families. Consumers stay at the Ritz because it is a brand they trust that exudes wealth and sophistication. What are they selling? They are not selling a bed for the night! They are selling an EXPERIENCE!

Apple computers are fast, modern, and sleek. But you’d be wrong to think that Apple is selling just a computer, they are selling an EXPERIENCE. Who are the consumers who usually buy Apple products? They are younger, more hip, tend to have more discretionary income, and they want an intuitive computing experience. Apple customers are willing to pay more for this experience.

Extrapolate these concepts to your financial firm. What are you really selling? Could it be:

  • Clarity that clients won’t outlive their money
  • Avoidance of financial risks and the next market meltdown
  • Building a legacy for loved ones
  • A better lifestyle
  • More time to spend with family and friends
  • Financial and investment organization
  • A client service experience that demonstrates value

Wouldn’t you love to attract better quality clients who are willing to pay your fees to obtain an experience that alludes to these benefits?

Brand your process

I’ve worked with many firms over the years that did not realize that they could brand their special techniques and processes, the ones that make them unique. These could be your financial planning process, your unique investing process, or your new client process.

Start by examining what you do that’s special, document each step in your process, create a list of deliverables, give your process a cool, branded name, and put it all in a boutique brochure. Make the brochure available for download on your website as well as available to provide prospective clients when they come in to meet with you.

Document what you do for clients, even the service items they don’t realize you do for them. Because when clients don’t know the intricacies you perform for them, they won’t appreciate it.



Financial service firms have a tendency to be run by individuals who are left-brained and proficient in facts, figures, and numbers. Branding your financial services firm takes creativity, experience, and skill.

I have the ability to take one look at a financial firm’s website and branding materials and determine where they are not living up to their true potential and how they can identify new niche markets, new areas of specialization, and how they can brand their services to stand out and attract quality clients who are willing to pay their fees. If this sounds like what your firm is looking for, please request a consultation to learn more.

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