Overlooked Way to Earn More

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moveFor years, I have assisted advisors to gain clients and earn more.  I recall an advisor who once called to tell me that using one of my marketing systems, he was getting in touch with people who could not afford his products.  I researched the demographics of his area and learned that his market was dominated with poor people.  I gave the advisor some simple advice: MOVE!

It is shocking that the simplistic thinking of Willie Sutton ("I rob banks because that's where the money is") does not occur to advisors.  Just because you were born in a particular city does not mean you need to stay there!  If you want to be a successful advisor, go where the money is:

Millionaire households per capita

State

$1M+ Investable Assets

Ratio Millionaires to Total Households

1. Maryland 169,287 7.70%
2. New Jersey 242,647 7.49%
3. Connecticut 100,754 7.32%
4. Hawaii 33,520 7.18%
5. Alaska 18,209 6.75%
6. Massachusetts 174,225 6.73%
7. Virginia 208,187 6.64%
8. New Hampshire 33,867 6.48%
9. Delaware 21,679 6.20%
10. District of Columbia 17,378 6.10%

Source: Phoenix Marketing International

Of course, there are many small pockets of wealth in the US.  Notice that New York is not on the above list but as we all know, there are plenty of wealthy people in West Chester County and Manhattan proper. Similarly, many areas of California have wealth pockets such as Beverly Hills and Malibu.

The point is, find a pocket where people have money and move there.

To help reinforce this point, consider all of the unemployed people looking for work in the US.  At the same time, here is a recent article from ABC news:

5 Parts of the Country with Labor Shortages

Similarly, my advice to the unemployed who cannot find work where they live: MOVE!

You will be better-off practicing in financial services in an area dense with people who have money for your products and services than struggling in an area where people do not have the resources to support the revenue you deserve.

You can always buy a plane ticket to go back and visit your friends and family.

 

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