How should a new young advisor prospect if they don’t have a network.

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Find a niche that interests you and dive in deep. It’s so difficult to compete against everyone else for the “typical” client because they have more resources and more experience that you’re unlikely to win a lot of that business. But a niche that you can own? That’s the type of business that you can take with you for a career.

likeuplifting

Trade shows and similar events were great for me when I first started. I still attend a select few

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At first I’d work anything. Home shows, boat shows, car shows, golf shows, hunting shows, etc… One of my biggest clients came from a home show. Easy way to get in front of a ton of people open to talk. Just make sure you get out in front of the table and talk to people.

likesmart

Develop relationships with center of influences (CPAs, lawyers). Don't try to sell them on anything or create a business relationship right away. Just get to know them and what they do. And then it should lead to more of a business relationship down the line as trust builds and as they get to know you. Being involved in a couple of chambers has been pretty beneficial to me as well. But don't expect it to create business right away. Most of these things take a couple years to come to fruition.

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Cold call for a dinner seminar….did I mention cold call?

funny

Use a database tool like zoom info

Yes and both whatever you can do to generate conversation

Play in traffic. Try everything. Then, after year one, see what stuck and focus on that. After year two, look at what worked best and refocus.
For me I found a niche in small business & self employed. That got me a relationship with a CPA who worked with a lot of the same market... referrals!
There was a lot of leg work, cold call/ cold walk in to local businesses, but when I specialized I impressed and business followed.

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