While advisers are provided with a load of information about the importance of focusing on relationships, the most important thing is to know the ‘X’ number of perfect relationships you need based upon the assets you need to manage to enjoy the lifestyle you want – it’s that simple.

It sounds great to talk about deep relationships, but you can have 5 awesome relationships and chances are, unless one of them is Warren Buffet or someone of his bank balance ilk, you’re going to starve to death. You have to know the ‘X’ number of people you need at that particular asset value, then go relentlessly hunting, find them and bag them.

There’s nothing wrong with getting clinical. In fact, by getting clinical about exactly what you need, you’ll more quickly set up strategies to then find the people you wish to work with.

If you intend to charge 1% on AUM, and are on an 85% payout structure, you’ll gross (without office, admin. and other operating costs being removed) $8,500 for every $1mm client you find – $4,250 for every $500K client.
If you want to make $85K annually, you’ll need to find 10 of these people if you average $1mm each time – 20 of these people if you average $500K.

If you want to be generating $340K in 4 years, you’ll need to find 40 people who have $1mm, or 80 people who have $500K.
You could find 10 or 20 per year for the next 4 years straight and there’s your $340K!!

Not bad.

Whether you need 40 or 80 clients, who gives a rip – once you’ve got them, there’s you’re $340k. That’s pretty good and I say worth shooting for.

Yes, first you must know why you want what you want. But after that, once you have your dream TARGET goal locked in your mind, go and get it.

It’s that easy…well actually, the next steps take some effort, but they’re worth it.

Stay tuned to learn them.