Super stars of planning: exploiting the art of selling yourself

A high profile can open many doors for financial planners in terms of quality client leads, retaining clients and building a better business. But as Julia Newbould found out, it is not just a matter of getting your face on the box or name in the papers.

No one wants to give their life savings to a nobody to look after. Today's demanding clients want to know that their planner or adviser is well-respected and knows what he or she is doing.

A planner can present someone with the best financial advice in the world but it doesn't mean that their advice will be followed. Clients need to be sold on that advice and one of the best ways that is done is through selling yourself. Word of mouth referral is well and good but to develop a public profile may reap greater rewards in the longer term.

Increased competition for financial planning business has also meant that advisers need to differentiate themselves to win clients. Advertising is one method, but many find there are better ways of raising profile. Becoming involved in industry bodies is one way and cultivating media contacts is another favoured route.

Millenium Financial Services managing director Laura Menschik has found raising her profile to be important for growing a business.

"Most advertising doesn't work. While being quoted or mentioned in an article doesn't bring a rush, it does occasionally attract good solid leads," she says.

ISG principal Glenese Keavney has a high profile in the superannuation industry.

She is a superannuation consultant for the Australian Tax Office (ATO) and has written for industry magazines on super.

"It can only come at a certain time when you have reason to believe you have a profile to promote. If you are not worthy of the exposure then it would be counterproductive," Keavney says.

She suggests planners should concentrate on an area of strength or business plan to raise their profiles.

"I tried to get a high profile in superannuation expertise by getting on as many committees as I could in the area," she says.

A survey carried out by the Keavneys' company ISG a few years ago found that what influenced most clients to go to a particular planner was a personal referral and after that it was independent positive media exposure.

"While BT can engage in media saturation advertising we can't, so there was no alternative but to do it this way," husband and partner Robert Keavney says.

To raise their profile initially, the Keavneys employed a PR person for six months.

The consultant introduced Keavney to influential financial journalists and he endeavoured to give them stories for their publications.

Keavney says most people think that if they get their names in the paper, strings of contacts will pop up.

"It is quite rare that an article will produce a lot of immediate inquiries and it's really naïve to believe it will," he says. "It's a water dripping on stone effect.

Some clients will come to us and say they have seen the company mentioned 'over the years'," he says.

Recently the Keavneys undertook another client survey in which they asked about the extent to which clients found it comforting to see them quoted in the media. Almost two-thirds of those surveyed said the exposure gave them more comfort as a client.

Dickson Bonnacci planner Sylvia Dickson has raised her profile by answering financial planning queries on Melbourne radio station 3LO.

Dickson says raising your profile might be important to those who can use it to increase their client base or referral network.

"If your name is recognised, it may open the door a little bit to start with," she says. "It can also be good in establishing credibility; especially if the profile is achieved through important industry issues," she says.

People often ask The Money Managers managing director Kevin Bailey who his PR company is.

"I tell them it's me," he says. Bailey believes his profile has come from having a vision of where things should go in the industry.

"I'm keen on having a profile because I've had a strong view on financial planning and professionalism," he says.

Raising his profile has taken a lot of "legwork and footwork," he says.

"It's created an overnight success in 12 years."

Winner of last year's Money Management Financial Planner of the Year, Bailey says his profile has allowed him to mix and meet with others of a more senior level abroad.

"If I'm listening to others at a high level I become a better planner," he says.

"Similarly, my association with the FPA has given me tremendous exposure to the higher echelons of the industry which is very beneficial for my practice. It gives clients more confidence although it brings higher responsibility and scrutiny."

"At the end of the day you have to have a real passion. You've got to want to change the world. As advisers our job is to research, analyse and formulate opinions and part of our responsibility is to take part in the public arena arguing that," says Bailey