Marketing to the Affluent: Elevate the Experience for Success with Affluent Clients

Brands like Ritz-Carlton, Lexus, and Tiffany & Co. have learned their lesson about how to treat the affluent client and work hard to create experiences beyond what’s normally expected. It’s no secret that affluent clients demand this greater level of service than most people. Advisors are no different from the businesses mentioned above and must do the same if advisors wish to attract this distinctive clientele.

At this year’s Affluent Summit I had the opportunity to interview Richard Weylman, a known marketing consultant and successful author. I’ve just found out that he’s noticed a significant trend among wealthy clients: advisors are being switched out in dramatic numbers. During our interview, he told me that affluent clients are searching for emotional security with their advisors as much as, if not more than, economic security. So, for advisors willing to elevate experiences, this is a great time to start building a practice with affluent clients.

Here are just a few of Mr. Weylman’s suggestions for elevating the client experience. To hear my full interview, please visit affluentsummit.com.

1. Understand what your clients and prospects need

Too many advisors are focused on selling products as opposed to fulfilling clients’ needs. By taking the time to listen to your clients and delivering solutions that will resolve their problems you will win their business. This may require that you listen more, talk less, and learn the best way to ask questions. Listening is one of the most important components to building trust, so it’s important to let your clients speak freely, without any interruption from you. Mr. Weylman says that affluent clients have primary concerns. If you can determine what those are and address them successfully you’ll keep your clients for life.

2. Know what moves your clients and prospects

It’s no longer enough to know that your clients and prospects like to play golf. You need to know where they play, what their handicap is, who their favorite players are, what driver they use, and more. Knowing details like this for all aspects in your client’s life and using them to build your relationships shows that you care and can help you connect with your clients on deeper levels.

3. Drive sales with relationship marketing

In our Affluent Summit interview, Mr. Weylman shares that simple average advisors spend only three hours per week prospecting. On the other hand the top advisors devote 18 hours a week (6 times as much!) to this endeavor. What you need to do is create your own UVP (Unique Value Proposition) and support it with relationship marketing techniques. If you’re too busy running your practice, you don’t have time to expand it further. By spending more time learning about your clients and prospects, showing them that you truly care, and delivering solutions that address their specific needs, you can wipe out most of the potential competition.

By building trust, rapport, camaraderie, and respect, you can get tremendous exposure among your ideal affluent niche market. Like Ritz-Carlton, Lexus, Tiffany & Co., and other great and popular luxury brands, elevate the experience of your business and brace yourself for results you’ve never even thought to imagine. To find out more, listen to my complete interview with Richard Weylman at affluentsummit.com.

To attend a free marketing webinar go to MillionDollarMarketingSystem.

Small business owners and consultants go to, Million Dollar Marketing Strategies.

Annette Bau, CFP(r), is the founder of FinancialAdvisorMarketingPractices.com and the author of numerous books and products.

She can be reached at Questions@MillionaireSeries.com.