Embarking on the journey towards achieving your 2024 targets as a holistic financial advisor requires a strategic plan and actionable insights. In this video, I, Alex Khassa from clientsblackbox.com, delve into specific strategies tailored for advisors who engage in both insurance and asset management. One key element of this plan is setting a target of a minimum $30 million a year in new assets. Let’s explore why this target is pivotal and how smart ad spending can make a significant impact.
The $30 Million Minimum Target:
Setting clear and ambitious targets is essential for success in the financial advisory realm. I firmly believe that every holistic advisor should aim for a minimum of $30 million a year in new assets. This benchmark is not arbitrary; it signifies the potential for growth and prosperity when engaged in the right activities.
The Power of Ad Spending:
One crucial aspect of the strategy involves judicious ad spending. Our observations indicate that for every $10,000 holistic advisors invest in advertising, they close about a million dollars of Fixed Index Annuities (FIA) business and another million in Asset Under Management (AUM). This correlation underscores the importance of a well-thought-out advertising strategy.
Budgeting for Success:
To illustrate, if your goal is to bring in $25 million in FIA premium this year, allocating $250,000 to advertising is a prudent move. This translates to approximately $20,000 a month, providing a framework for effective budgeting to achieve your financial targets.
Connect with Clients Blackbox:
I invite financial advisors, especially CEOs of Registered Investment Advisor Associations (RAIA) managing five or more advisors, to explore the resources and insights offered by clientsblackbox.com. Our platform is dedicated to providing practical strategies for achieving success in the ever-evolving landscape of holistic financial advising.
As we navigate the complexities of the financial advisory world in 2024, setting and achieving targets requires a well-crafted plan. By aiming for a minimum of $30 million a year in new assets and strategically allocating resources, holistic advisors can pave the way for a successful year ahead. Visit clientsblackbox.com to delve deeper into our insights and resources, and let’s work together to turn your 2024 targets into reality.
