Revisiting Unconverted Prospects for Financial Advisors

November 13, 2020 by

Advisor Wealth Mastery Team

Unconverted prospects still hold potential for becoming a client of your practice. Many financial advisors rely on referrals to bring in clients. If you already have a great referral process in place, there’s a high chance that you also have a list of unconverted referrals somewhere. There’s also a good chance that you haven’t paid much attention to that list in quite some time. These aren’t the people who didn’t respond to your outreach at all. In this case, you want to look at the people you actually connected with who were interested but weren’t ready to commit at the time of your conversation. Your existing connection means that they’re much more likely to convert than someone from a random mailing list.

Prospects have changing needs when it comes to Financial Advisors

When a potential client initially fails to commit, it’s easy to write them off. That line of thinking may mean that you’re leaving clients and money on the table. As a financial advisor, it’s important to understand that people’s lives and their financial needs change on a regular basis. Just because your services didn’t work for them 6 months ago, doesn’t mean that they won’t work them now. Maybe you added new services that they need, or maybe they experienced a major life change such as having a child or receiving an inheritance. Either way, you won’t know unless you reach out again, and they won’t know unless you tell them. Don’t be afraid to reconnect, but remember to use a balanced approach for this additional round of outreach. 

Stay in touch with prospects.

A balanced outreach approach will allow you to connect on a personal level without seeming desperate or being annoying. This could mean something as simple as inviting them out for coffee or offering them a 20 to 30 minute virtual meeting. It doesn’t need to be complicated or time-consuming. This meeting is an opportunity for you to catch up on any changes that have occurred since your last conversation. It’s also a chance to let them see what your services can do for them now. Everyone responds differently so if a potential client doesn’t seem interested in talking business during your meeting you don’t have to force the issue. You can always follow up via email and/or direct mail to thank them for their time and let them know what services might work for them based on the conversation you had.


Reaching out to someone a second time can feel awkward, but your list of unconverted (but qualified) potential clients is an excellent resource when it comes to garnering new clients. You’ve already done the hard part. The second contact is all about making sure prospects know that you’re ready to help them meet their financial goals. If you’d like to know more, contact us today to schedule your free business evaluation.

  • Free gifts package

    Complete form to get Instant Access to the free training course, books, and 1 on 1 coaching session.

  • Name(Required)

  • Recent Posts

  • Categories

  • Tag/Topics