What the Hyper Boutique RIA DOES NOT DO Part 2: "Pitch-slap" and "Spray 'n Pray"

The wealth management space in particular has begun to develop a terrible reputation for being "pitch slappers". Sending "DMs" to unwary prospects on social media. Emailing people and immediately suggesting meetings. Leveraging automation and silver bullet systems from unsavory service providers promising a "quick fix".

These tactics leave a sour taste in the mouth of almost any audience member. This is partly because:

1. anyone partaking in these tactics comes off as desperate and socially inept (two qualities most clients seek to avoid in their professional services providers); and,
2. modern brands have increasingly discovered the value of playing the long game, by leveraging a portfolio of content, assets, and activities, each designed to meet different prospects at different stages in their journey (increasingly, this is how modern audiences purchase, and by comparison, old school sales tactics feel "slimy").

Recall the "psychology" of the stages of the Modern Client Journey (read about the Modern Client Journey HERE). Introducing the idea of a meeting, discovery, or consultation, before the prospect has naturally gone through the earlier stages of the Modern Client Journey, is a recipe for disaster.

Most of your prospects are still "just browsing". The majority of your efforts should be focused on helping them browse more effectively. Done well, this is a much more effective approach to getting what all advisors desire: a satisfactory stream of good fit, interested leads, ready to book meetings and talk seriously about a potential engagement.

By pitch-slapping, DMing meeting requests, cranking out cold outbound, and building massive lists of people who have not already explicitly indicated interest in your advisors, you are essentially pressuring the prospect to skip all of the stages they have not gone through yet.

Just like a salesperson who continues to try to sell you a TV, after you've already told him you are "just browsing"...

...this approach is disrespectful to your audience.

And being disrespectful to audiences is a surefire way to build a barren, wasteland of a pipeline.

Furthermore, Hyper Boutique RIAs are incredibly respectful to their audiences.