Prospecting as a financial sales professional is the hardest part of the sales process isn’t it? Instead of swimming around in murky waters, let us take a step back. Do you still feel your way through the darkness, guided only by your makeshift set of criteria to qualify prospects? Others keep pushing through, trying all possible means to convert every single prospect they come across, no matter how daunting they may present themselves, putting all their energy into the wrong clients.

One of the old school of thought is: the numbers game. The more prospects you meet, the better your chances are. Sure, that was how we have all been taught. Statistically speaking, it does work. To put it in another way, itusedto work. But times are changing. Change is inevitable, so should our way of conducting businesses to succeed in this competitive scene.

So, the question is- how do Advisors keep up with times in terms of optimising their businesses?

“A financial plan is only as good as the questions being asked.”

We have to learn to adopt new techniques and challenge the boundaries of prospecting.

Establishing if a client is a qualified prospect, requires that we hold a fact-finding conversation to elicit answers so that Advisors are equipped to
better implement decisions based on a specific set of criteria, thereby boosting efficiency, that results in desired outcomes (better allocation of time and resources) for both the client and the Advisor. Work smarter, not harder.

This concept of qualifying a potential prospect should be governed by a specific set of criteria. Chris Chan has based his fact-find process off of a string of criteria, and coined the acronym:P.R.O.M..


Let us get real. Financial incompatibility wrecks havoc on one’s financial planning. Without money to put aside, you simply cannot kick-start financial planning. End of the story. Considering the dire financial predicament he/she is currently in, the client may be deemed an unsuitable prospective client at this point in time unless his/her financial stress is eliminated.


“You can lead a horse to water, but you can’t make him drink”

The above is an English proverb which means that you can give someone an opportunity or make it easy for someone to do something, but not force them into it.” Hence, unless the client is responsible enough to yearn to improve his/her finances via financial planning, there is no amount of advisory that could change that.


As defined by the Cambridge Dictionary, an open-minded individual is “willing to consider ideas and opinions that are new or different to your own”. He/she is receptive to financial discussions. Being open-minded is a criteria, where a client with such trait, ticks the box off the checklist.


Every Advisor has their own niche, which can help differentiate themselves. Target and qualify your ideal prospect based on your niche financial planning practice. Ensuring that the client is a market-fit to your niche, enables you to tailor-make a value proposition, form a stronger connection with them, and allow for a higher conversion rate. When done right, do not be surprised if this drives potential referrals too!


An ideal client profile would tick all the right criteria boxes, and essentially be waving in front of your eyes, saying “I’m P.R.O.M. too!”

For more prospecting tips and guides, be sure to follow us more on this blog, as well as read some of the insightful articles here.

Also, add us onFacebookso that you don’t miss any updates!

Leave a Reply

Your email address will not be published. Required fields are marked *