Hone your elevator pitch

When formulating your pitch, Gilbert says, think about what sets you apart from other advisors, and why a potential client should care about what you have to offer.

“What advisors do is often seen as a commodity,” Gilbert says. “So, give some thought to why people should choose to work with you instead of someone else.”

In an era of increasing mandatory disclosure, adds Richard Heft, executive director of Ext. Marketing Inc. in Toronto, the elevator pitch is central to how advisors talk about their fees and communicate the value they provide to clients.

Gilbert and Heft offer the following advice for creating a compelling elevator pitch:

> Review your value proposition
Compile a list of your services and client-education offerings, Heft says. Using that information, create a repeatable message that says: “This is what I know, what I offer and what I can help you with.”

“Mention your COIs, who may be able to help clients with estate planning, wills, trusts and education planning,” Heft adds. “All of that adds to your value proposition.”

Integrate your pitch with your brand, which is the promise you make to your clients, Heft says. “It’s the experience they are going to have when dealing with you,” he says, “so make sure your elevator pitch reflects that.”

> Keep it tight
One to two minutes in length is long enough, Gilbert says.

“If you have a good pitch,” she says, “people will ask you to tell them more. And avoid industry language. Keep that for your website and brochures.”

Make your pitch clear, catchy and tangible. For example say, “I work with entrepreneurs to make sure they don’t outlive their money.” That works better than “I help entrepreneurs to implement tax-efficient strategies.”

> Identify your audience
Mention your target market in your elevator pitch, Gilbert says.

Say, “We help women to feel financially secure”; or, “We educate investors about retirement planning.”

> Focus on needs
If you’re speaking to clients or prospects in their 60s, education savings might not be a priority, Heft says. On the other hand, that topic would be very much of interest to people with younger children.

> Adapt your pitch
If you are targeting two distinct audiences, Heft says, consider modifying your pitch slightly to suit the needs of each of those groups.

> Use it everywhere
Use your pitch whenever you communicate with new people, Gilbert says. “Use it at networking events and whenever you have a warm lead.”

Remember that younger people communicate differently from older folks, Heft adds. “You may communicate with them more via social media than face to face. Remember that your elevator pitch can be included in a blog post, an email or a phone call.”