Developing Relationships With High Net Worth Prospects

When developing relationships with high-net-worth prospects, it can be difficult to turn these relationships from social encounters into business relationships. It takes time to cultivate any relationship, but it may take extra care when you’re nurturing a high-net-worth prospect.

Open Lines of Communication

Start by keeping the lines of communication open – offer a business card, email, or make a phone call to initiate contact and make sure that you’re staying reconnected with your prospect. If you have an upcoming event scheduled, use this opportunity to reach out, but don’t wait for a set schedule if you don’t have something coming up.

Base Your Invitations on Shared Interests

It’s a great opportunity to cater to their interests and personalize an invitation to them and potentially a shared interest you have together. If you know they enjoy whiskey, invite them to a trendy whiskey bar. If they’re a sports fan, invite them to a game. Don’t discount simple gestures, such as inviting them to your home or out to dinner. Often, a simple gesture may be the easiest to accept. Don’t feel that you have to create elaborate or expensive scenarios to invite a prospect simply because they have a high net worth. It’s more important that you’ve listened to their interests and have taken their interests into account when making plans for their invitations.

Be Cognizant of Their Time

As with any client, you’ll want to be cognizant of the restraints on their time and aim to make yourself an easy addition to their life instead of something that they need to fit into their life. Be sure that you’re offering times that are convenient to their schedule and fit into their lifestyle, particularly if they own their own business or if they have a busy family life.