Advisor Advice: How Do I Get Leads to Return My Calls? What Issues or Topics Seem to Resonate With Them?

Finding ways to re-engage with prospective clients can be one of the bigger conundrums we face as advisors. In an industry where non-market growth can be difficult to achieve, the last thing we want to do is accept that a lead has slipped away. But what if we could encourage prospects to reconnect without feeling pressured? While each advisor’s approach may differ, and results can vary, I have found several methods to be more effective than others. Let’s take a look at a couple of them.

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Start by Categorizing Leads

First, it’s important to draw a distinction between the types of leads we often work with. For the purposes of this discussion, I’ll categorize the leads as “warmer” and “colder.” There are many ways to categorize and segment leads, but this high-level split is a good starting point. More granular segmentation can come into play when we get into the approaches themselves.

Warmer leads will have expressed more interest in partnering with an advisor, evidenced by having more conversations with you and/or sharing more information with you. The key with warmer leads is that you know quite a bit about them. Perhaps they came to you as a referral from another client and you’ve had several meetings with them before communications lapsed. During these conversations, you got to learn about their goals, and ultimately, came to understand what they want to achieve in working with an advisor.

Colder leads are the opposite: you likely have no personal engagement with them and know only basic information. They may have no prior knowledge of you or your firm but saw your webinar link in a social media ad, filled out a form, and attended the session. From that, you know their name and email – but little else. However, with some online research, you can gather more details to fill in the gaps.

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Re-Engaging With ‘Warmer’ Leads

Here’s a hypothetical example and tactical approach you could take for a couple who are considered to be a warmer lead. Let’s say you lost touch with them in April, but during your last meeting, they mentioned they were expecting their first child in August. They also expressed uncertainty about where to start with college planning and a desire to work with an advisor who specializes in that area. You tried to follow up with ideas in May, but they haven’t returned your calls.

To reconnect with them, you could send a congratulatory email or note (assuming you know everything went OK). In the note, you could share either a link to or printed copy of an article on 529 plans that you either wrote or otherwise found to be insightful. In the note, you could mention that you think it may be valuable for their college planning efforts, reminding them in the process that you know this was a topic they viewed as an acute pain point.

Even better, share a timely piece of content that aligns with their interests and addresses recent developments, such as new legislation. For example, highlight how SECURE 2.0 allows unused 529 funds to be rolled into Roth IRAs. When sharing, provide an example of how you’ve helped similar clients to reinforce your expertise. Lastly, invite them to continue the conversation if they still need assistance.

This strategy encourages reengagement in a few key ways. First, it shows that you listened to their needs before losing contact and that you’re still genuinely interested in helping them achieve their goals. Second, it highlights that you have valuable insights they can access when needed, particularly your understanding of current and future legislation that affects them, leading to unique, personalized planning ideas.

Third, it’s not overly sales focused. It doesn’t start with, “Hey, I think we could work well together. Let’s get on the calendar!” or push what you and your firm offer. Instead, it centers on the client and adds value to their life while subtly demonstrating that they could benefit from working with you, without making them feel pressured into another conversation.

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Re-Engaging With ‘Colder’ Leads

If they’re a colder lead, and you don’t know much about them personally or financially, you can use a similar tactic – but in a slightly different way. Instead of focusing on a topic that you know addresses one of their specific needs, interests or goals, you can leverage current events that affect people more broadly.

For example, let’s say someone wound up watching your webinar on estate planning basics that you hosted in July. To watch the webinar, they needed to submit their name and email address, which allowed you to do further research on what you could potentially deliver them that could be of value. After doing a bit of research, you learn this individual recently retired after serving as CEO of a company that was sold, leaving them with a significant payout.

Taking stock of what you know about this person, you surmise that estate planning is of the utmost importance and they might have a lot of money to leave as part of their legacy. A perfect topic comes to your mind that could help you re-engage after the webinar – the 2025 estate tax sunset. This is a near-term issue that you think will have a meaningful impact on their financial plan given their presumed wealth and apparent interest in estate planning.

Furthermore, if they don’t prepare, they could run into a logjam when seeking help from estate attorneys and CPAs to execute and structure large gifts before the sunset. Of course, an advisor could help in this situation in many ways, from developing a financial plan with the estate planning needs at its core to making introductions to estate and tax professionals.

To reconnect with the lead, you could share an article – preferably something you wrote – that outlines the importance of addressing the situation before the sunset. You could also ask if they have a plan in place and whether the tax change is something they expect to be impacted by. Let them know that you would be happy to introduce them to some expert estate attorneys and CPAs who are helping some of your other clients with this issue.

Similar to the warmer lead example, this approach can be effective in a few ways. First, adding time sensitivity encourages a quicker response compared to something open-ended. Second, it might prompt them to consider whether their current advisor (if they have one) has addressed this issue. If not, you stand out by adding value and highlighting a potential gap in their current advisor’s service.

Third, it keeps the focus on the lead’s personal needs. Present an idea that adds value to their financial plan without pushing your own capabilities or claiming you can outperform their current advisor. Your goal is simply to help. By focusing on the client, rather than yourself or your firm, people are more likely to engage or re-engage.

Bottom Line

Of course, these examples are highly idealized and specific. But they draw upon a broader framework that can be applied to almost any lead-gone-dry, no matter how warm or cold. That framework boils down to:

1. Assess the depth of information you have about the lead. If you know their goals and objectives, consider them warmer. If you only know surface-level details, consider them colder.
2. Based on what you know about them, deliver them a content piece or insight that aligns with their interest. If you know about their goals, tailor that piece and insight into their goals. If you only know surface-level information about them, then send something that will broadly apply to someone who fits their profile.

Throughout the process, let them know that you’re thinking of them and sending the article because you think it can help. You can share how you’ve helped similar people with similar needs but try not to lead with this. Always make it about the person who could ultimately become your client. That’s what they’ll remember and why they will return your email or call.

Client Acquisition Tips

• Establishing a presence on social media platforms like LinkedIn, X, Facebook and others allows you to engage with potential clients. In fact, a Broadridge survey of 400 financial advisors in November 2023 found that four in 10 acquired a new client via social media. Share valuable content, such as financial tips or market insights, to position yourself as a trusted expert and attract followers who may turn into clients.
• If you’re looking for new ways to find prospective clients, consider investing in your lead generation processes. SmartAsset AMP (Advisor Marketing Platform) is a holistic marketing service financial advisors can use for client lead generation and automated marketing. Sign up for a free demo to explore how SmartAsset AMP can help you expand your practice’s marketing operation. Get started today.

Jeremy Suschak, CFP®, is a SmartAsset financial planning columnist who answers reader questions on personal finance topics. Got a question you’d like answered? Email AskAnAdvisor@smartasset.com and your question may be answered in a future column.

Jeremy is a financial advisor and head of business development at DBR & CO. He has been compensated for this article. Additional resources from the author can be found at dbroot.com.

Please note that Jeremy is not a participant in SmartAdvisor AMP, and he has been compensated for this article. 

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