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Advisors ask me all the time, ”Do you have any good lead programs?”  I tell them I have access to every lead program you can think of, I just don’t recommend them very often. The reason is that a lead program is only as good as the advisor’s process to convert these prospects. Most advisors don’t really understand what it takes to be successful working lead programs.


All Leads are Not the Same



Financial leads come in many different shapes and sizes. Lead companies may use direct mail, digital, social media, TV, radio or a combination of these. Prospects may also be responding to a variety of messages that will determine the nature and quality of the lead. The cost of these leads can vary widely as well.


What you have to understand is that even with best lead programs, your conversion rate will average about 5%, provided you are doing everything right. There are exceptions. I work with one advisor who typically writes $15MM-$20MM in premium and brings in that or more in AUM every year. His conversion rate and case sizes are well above average. I call him a “unicorn” because he took the time to develop his own process and he has a staff to support him. He has purchased leads from every vendor you can think of, but still only works with a handful. I recorded a podcast with him to talk about his process. You can listen here.



If you still feel compelled to try a lead program, make sure—before you shell out any money—you do two things. First, make sure you ask the vendor the list of questions below. Second, call me!


  1. Are these prospects looking for a product or a planner?
  2. How are these leads qualified?
  3. How are they generated? (Some digital is fine, but in general, stay away from social media leads.)
  4. What is the average conversion rate? (If they say anything higher than 5% they either don’t know or are lying)
  5. What is the average advisor ROI with this program?
  6. Have you developed a lead conversion process for advisors?
  7. Do you offer training?
  8. Do you replace bad leads?
  9. Can I speak with other advisors in the program?
  10. How long have you been in business?
  11. Who are your competitors?
  12. Who is your ideal advisor?
  13. What can I expect for lead flow?
  14. How many advisors are in my market?
  15. Do you sell my leads to competitors?
  16. Are you growing?
  17. What is your average advisor retention timeframe?

Chasing leads is not for the faint of heart. The word “lead” means they don’t know or trust you yet. They are difficult to convert and require a follow up process most advisors aren’t equipped to handle. If you want to learn more about everything we do to help you get in front of qualified prospects, reach out to your Quantum Consultant at 800.440.1088.