Mastering Prospecting Strategies to Win Business Owner Clients

Why Business Owners Are a Prime Growth Opportunity for Advisors

Many financial advisors recognize the massive potential in working with business owners, yet few have an effective strategy for engaging them. Unlike traditional wealth management clients, business owners don’t fit into a standardized financial planning model. Their personal and business finances are deeply intertwined, requiring a more holistic, strategic approach.

The Opportunity for Advisors Who Get It Right

• Business owners need advice now more than ever. With the $7.9 trillion great wealth transfer underway, more private business wealth will change hands in the next decade than ever before.
• Most business owners don’t have a financial advisor. A staggering 65% of small business owners and 41% of medium-sized business owners don’t currently work with a financial planner.
• Their wealth is in their business. Many advisors mistakenly avoid business owners, believing their assets are tied up and inaccessible. But business owners need guidance on how to unlock, protect, and grow that wealth—and the right advisor can be indispensable in that process.

Despite these opportunities, many financial advisors don’t know how to break into the business owner segment. The most common roadblocks? Lack of outreach strategy, and the absence of a compelling reason for business owners to engage.

This is where RISR changes the game—giving you the insights, data, and confidence to start high-impact conversations with business owners immediately.

Step 1: Understanding Business Owner Personas—Who You Should Be Targeting

Not all business owners are created equal, and failing to tailor your approach can kill your prospecting efforts before they even begin. To effectively engage business owners, you need to understand their mindset, their stage of business growth, and their financial concerns.

Segmenting Business Owners for Effective Prospecting

Business owners fall into distinct categories based on their business lifecycle, financial maturity, and mindset toward financial planning:

• Focused on survival and growth.
• More concerned with cash flow, funding, and reinvestment than long-term financial planning.
• Best outreach approach: Position yourself as a resource for risk mitigation, tax efficiency, and structuring their business for future financial success.

• Revenue is growing, but financial planning is often neglected.
• Starting to optimize tax strategies, plan for expansion, and think about key employee retention.
• Best outreach approach: Highlight wealth accumulation, tax strategies, and financial efficiencies to maximize their business's profitability.

• Likely their business’s most valuable years in terms of revenue and stability.
• Starting to consider retirement, succession planning, and risk mitigation.
• Best outreach approach: Lead with valuation, business continuity, and retirement planning to position yourself as their trusted exit strategy expert.

• Actively looking for guidance on maximizing business value before a sale.
• Best outreach approach: Use business valuation insights, tax mitigation, and liquidity event planning to show how you can help them protect and optimize their exit.

Knowing which category your prospect falls into helps you craft an outreach message that resonates immediately.

Step 2: Using Business Valuation as a Conversation Starter

One of the most effective and immediate ways to engage business owners is through business valuation.

Why this works:

• Most business owners have no clear idea what their business is worth. They may throw out estimates, but a data-driven valuation is an eye-opener.
• It’s a natural lead-in to broader financial planning conversations. Once they see the number, the next question is: “How does this impact my future?”
• It builds instant credibility for advisors. Offering a valuation shifts the conversation from “salesy financial advisor” to trusted business consultant.

How to Use RISR to Make Business Valuation Your Prospecting Edge

RISR allows advisors to:

• Generate a business valuation in minutes. No complicated analysis—just a fast, credible starting point.
• Uncover hidden financial risks that business owners typically overlook.
• Start the financial planning conversation naturally, without a hard sell.

The goal isn’t just to provide a valuation—it’s to use it as a springboard for deeper financial discussions.

Step 3: Leveraging Centers of Influence (COIs) for Warm Introductions

Your strongest referrals won’t come from cold outreach—they’ll come from Centers of Influence (COIs) like:

• CPAs & Tax Professionals: Business owners already trust their accountants but need financial planning beyond tax season.
• Attorneys: Estate and business lawyers work with owners on succession and legal structures but don’t offer financial planning.
• Business Consultants & M&A Advisors: These professionals help owners grow and sell their businesses but aren’t wealth advisors.

How to Build a Referral Pipeline with COIs

• Host joint educational events on business valuation, succession planning, and tax optimization.
• Exchange insights and client success stories—help COIs see the direct value you bring.
• Make it easy for them to refer you by providing short, clear messaging on how you help business owners.
  
  

Step 4: Winning with Direct Outreach

📩 LinkedIn & Email Outreach Strategy

• Focus on providing value upfront rather than pitching a service.
• Keep your messaging short, punchy, and benefits-focused.

Example Email:

Step 5: Converting Prospects into Clients

Once a business owner expresses interest, your job is to demonstrate value immediately.

Key ways to convert leads into long-term clients:

• Show them something they haven’t seen before. Use RISR’s insights to highlight hidden risks, untapped value, and financial blind spots.
• Make the connection between business value and personal wealth crystal clear. Many owners haven’t thought about how their company fits into their personal retirement plan.
• Follow up with a concrete next step. Whether it’s a deeper analysis, a second conversation, or a formal engagement—don’t let interest fade.
  
  

Final Thoughts

• Business owners represent one of the most lucrative, underserved markets for financial advisors.
• By positioning yourself as a trusted business expert, you differentiate yourself from the competition.
• RISR gives you the tools and insights to prospect business owners effectively—use them to start more conversations, build trust, and grow your practice.