Last Updated on December 1, 2020 by John Fischer
Obtaining accredited investor lists should be your first order of business as a new investment manager. Otherwise, you can spend many years exerting a great deal of effort and energy without much to show as far as productivity and results. Accredited investors are the kind of people with whom you can interact in a way that is positive and constructive.
You may feel great temptation to go with generic lists rather than accredited investor lists. Most of these have been compiled by call centers operatives who know little to nothing about finance and have no clue as to the real operations and needs of the people they refer you to. In order to get good results it is vital that you get a list of investors who have been properly investigated. Purchasing a list of any other kind is likely to get you nothing by disconnects, wrong numbers, and dead ends. You will find yourself in a place of frustration as you discover that the contacts you’ve been given have no interest in doing business with you, nor in investing in general.
An accredited investor list can give you a proper start in the industry. Such lists are composed of people who have been evaluated by top investment firms. They are people whose specific interests and plans have been made clear, so that you are able to speak to them when you make first contact. Going off the grid, so to speak, and hunting down long-shot clients may seem like a risk worth taking. It may have been presented to you in a way that promises big rewards and significant gains. However, this is rarely the case. The fact is that most such leads are not worth the paper they’re printed on. If you want to practice as a true professional, then you must spend the money necessary to get access to those who actually want to be contacted and are interested in getting in on deals.
This really goes to the heart of what it takes to succeed in this business. You cannot do so if you’re spending all of your time working demonstrably unreliable leads. At some point, you have to up your game and put yourself in the position of interacting with people who are serious about investing and interested in forging long term relationships with investment advisors. This is the key that unlocks the door to high performance and effectiveness as an investment manager.
The world of finance has no shortage of rumors and tales of people who have made it big by chasing down highly speculative leads. You should always be suspicious of such stories. They are usually only half true. And even the ones that comport completely to the facts do not justify the purchase and use of generic leads. If you want results, then you must be willing to pay for them. Accredited investor lists can get you conversion rates that are as solid as they are consistent.