11 LinkedIn Profile Tips For Financial Advisors — What You Are Up Against

11 LinkedIn Profile Tips For Financial Advisors — What You Are Up Against

I recently started doing work with Financial Advisors in the Calgary area, where I am based.

As I started to look at a bunch of different Calgary Financial Advisors LinkedIn profiles, I discovered that a lot of these people we doing similar mistakes when it comes to their LinkedIn Profile.

Here is a transcript on the first video in the series.

Hi there it’s Chris Hamilton here with Sales Tip A Day, WWW.SalesTipADay.com. What I wanted to show you was eleven LinkedIn profile tips that you could use to beat your competition. Now, why is this important? I want to show you what you’re up against in this Calgary marketplace as it relates to people that you’re competing against. When you do a search on LinkedIn, what you’re going to find is anywhere between twenty two thousand and twenty three thousand people that you potentially are competing against. That’s just the people on LinkedIn. There’s a lot of people that aren’t on LinkedIn so I would imagine this is even fifty percent to double the rate if you were to take a look at it.

Now, just to give you an idea, I went into LinkedIn and I looked up financial services, banking, insurance, and investment management. Now, if you break out each of these what you’re going to find is in the financial services world there’s roughly ten thousand people competing against you. In the investment management segment, there’s almost two thousand. In the banking segment, there’s five and a half thousand people that are competing against you. In the insurance area, there’s almost five thousand people competing against you.

Here’s what you’re up against, twenty two thousand plus people in a financial role in Calgary, and Calgary has a population of 1.5 million people, according to the Calgary Economic Development Counsel where a lot of these statistics I’ve found. When you take that, literally for every financial person there’s sixty eight people in Calgary. Now, if you actually look at the demographics between twenty five and say sixty five, which is an identifiable market to be going after, that’s only forty people that you could be going after. The richest population segment that you want to be focusing on is between fifty five and sixty four years old, and it’s a family that has a net worth over a million dollars. Typically this segment has a net worth over a million dollars. It’s also six hundred and seventy thousand more, dollars more than people that are single in that same age bracket. There’s a target demographic you really want to take a look at.

In the fifty five to sixty four age bracket in Calgary there’s a hundred and seventy four thousand people, which basically means there’s only eight people in that bracket for every financial person that’s based in Calgary. Now, if you were to take a look at the top twenty percent and the upper middle twenty percent, which I’ll get to in a couple of seconds here, there’s only thirty four thousand eight hundred people for each one of those segments in that fifty five to sixty four age bracket. Basically that’s 1.6 people for every financial broker that you want to be going after. The reason why I bring this up is because the fact is you want to hone in on a target demographic that has the most money that can invest with you, and who’s most likely to invest with you.

Now, when we start look at this stuff there’s a bottom twenty percent, lower middle twenty percent, middle twenty percent, upper middle twenty percent, and an upper twenty percent. Basically the bottom lower middle, and middle I’ve completely excluded. They don’t make enough money that you want to waste your time going after that. What you’re looking at is that upper middle and upper twenty percent. When we focus on the middle upper twenty percent of the population in Canada, they make between eighty eight thousand and a hundred and twenty five thousand per year. In Calgary on average they’re making a hundred and twenty nine thousand dollars per year. In Canada their net worth is anywhere between five hundred and eighty nine thousand, and 1.14 million. In Alberta the average net worth is five hundred and fifty seven thousand. In Calgary for this bracket, the average is six hundred and ninety thousand dollars. Basically that’s the net worth of these individuals.

Now, the other thing you need to look at net worth is a lot of the times there’s houses that are included in that. That number is actually a little bit lower depending on the fact that you want to take a house of that one. Now what we’re going to do is we’re going to look at the upper twenty percent. To me, if I was in the financial world and I was going after people, I would be focusing on the upper twenty percent and then maybe a little bit on that upper middle twenty percent. Here’s why, the upper twenty percent in Canada make a hundred and twenty five thousand plus per year. In Calgary they’re making three hundred and sixty three thousand dollars on average per year. In Canada their net worth is $1.14 million plus. In Alberta the average net worth is $1.3 million, yet in Calgary their average net worth is $1.85 million. This is the target demographic you want to focus in on.

Now, how can you find these people? Here’s the easiest way to find these people, or reach out to these people, is leveraging LinkedIn.

In the Calgary marketplace on LinkedIn there’s almost five hundred thousand people on LinkedIn. Now, if you were to look at this for each of the twenty percent segments for the top twenty and the upper middle twenty, there’s ninety five thousand people in each one of those segments that you could be going after. If you reach out, you better make sure you’re putting your best foot forward and beating your competition. This is where I’m going to show you eleven LinkedIn profile tactics that you can use to beat your competition. I’ll tell you what, I’ve gone through and I’ve analyzed this all over the place on LinkedIn and if you start following these tactics you’re going to be miles ahead of 99.9 percent of the people that you’re competing against on LinkedIn.

I recorded this video as part of a larger video that show 11 common mistakes that Financial Advisors make when it comes to their LinkedIn Profiles. You can watch the complete video on the 11 Mistakes that Financial Advisors make here. You can also download an eBook entitled “LinkedIn Profile Checklist”.

You can join the next Social Selling Success Webcast by clicking the link below

http://salestipaday.com/linkedin-social-selling-success-seminar

or you can

Text the word SOCIAL to 44222 in the United States to register

or

Text the word SOCIAL to 1 855 969 5300 in Canada to register

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