The short version
- Prospecting is a weekly habit: a set number of new conversations every week, from more than one source.
- Build referrals first. Ask after every signed case, every claim you help with and every review.
- Work out your weekly number of conversations from your FYC goal and your own rates.
- In Singapore, check the Do Not Call Registry within 21 days before a marketing call or message to someone who hasn't given you clear consent.
- Say who you are and which firm you represent in every first message, and never pose as someone else online.
Where new clients come from
Every source has a cost in hours and a different chance of turning into a meeting. Most advisors do best with two or three running at once.
| Source | How it works | What to watch |
|---|---|---|
| Referrals | A client introduces you to someone they know | Ask the client to make the introduction, so the friend expects you |
| Existing clients | A yearly review finds new needs and new names | Keep the review about their policies, and ask for a referral at the end |
| Warm market | People you already know | It runs short, so start a second source early |
| A community you know | A profession, a language group, a sport or a faith group | Give something useful for months before you ask for anything |
| Events and roadshows | Talks, workshops and booths | No pressure at the booth, and follow up only with people who agreed |
| Content | Posts, videos and newsletters about what you know | Your firm approves it before it goes out |
| Cold calls and messages | Numbers you didn't get from the person | Do Not Call checks, and the coldest start of any source |
A referral has already heard about you from someone they trust, so the first conversation starts warm. That's why it's the source to build first.
How many people do you need to talk to each week?
Work back from your goal. These numbers are made up to show the sums, and your rates will be different.
- Say you want 4 cases a month.
- If 1 in 2 closing meetings signs, that's 8 closing meetings.
- If 2 in 3 first meetings reach a closing, that's 12 first meetings.
- If 3 in 4 appointments turn up, that's 16 appointments set.
- If 1 in 4 conversations books an appointment, that's 64 conversations a month.
- 64 / 4.33 weeks = 14.8, so about 15 new conversations a week.
The activity calculator runs these sums from your FYC goal and your own rates. After a few months, work out your booking rate by source. If your referrals book better than your cold calls, every referral in your 15 lowers the number you need.
How to ask for referrals that turn into meetings
Ask at the moments a client is happiest with you: right after they sign, after you've helped with a claim, and at the end of a review. Keep it specific:
- "Who else do you know who's just had a baby, or bought a home, and might want the same conversation we just had?"
- "Would you be comfortable introducing me? A quick message from you saying I'll get in touch works best."
- "What should I know about them before I reach out?"
Ask the client to make the introduction, in a group chat or a message, rather than just handing you a number. The friend then knows who you are and has agreed to hear from you, which makes the first call warmer and gives you a record that they said yes. The glossary entry on referrals has more.
What to say in the first call or message
Say who you are, who introduced you, which firm you represent and why you're getting in touch, in the first two lines. For example:
- A call: "Hi Mei Ling, this is Daniel from [firm]. Jason mentioned you'd just moved house and might want to talk about cover. Is now a good time for two minutes?"
- A first message after an introduction: "Hi Mei Ling, Daniel here, Jason's financial advisor at [firm]. He said you'd be open to a chat about cover for the new place. Would a 20-minute call on Thursday or Saturday suit you?"
- A follow-up: "Hi Mei Ling, following up from last week. Happy to leave it if now isn't the time. Just reply and I won't message again."
The cold calling script template has a full call script to adapt, and the sales cadence guide covers how many follow-ups to send and when to stop.
Prospecting rules in Singapore: Do Not Call, consent and MAS
This is a summary of the official rules, not legal advice. Your firm's compliance team has the final word.
- Before you send a marketing message to a Singapore number, whether by call, SMS or on our reading WhatsApp, check it against the Do Not Call Registry. The PDPC says the check must be made within 21 days before the message goes out.
- You don't need the check if the person gave clear and unambiguous consent to receive those messages on that number, evidenced in writing or another form you can refer back to.
- Messages to an existing client that relate only to the subject of their ongoing relationship with you, such as a change to their policy, aren't marketing messages under the PDPC's guide. A one-off purchase isn't an ongoing relationship, and a service message with a promotion added is still marketing.
- Every marketing message has to say who sent it and how to contact them, and a marketing call can't hide your caller ID.
- The PDPC says a sole practitioner without a UEN can open a Do Not Call checking account with Singpass, and each main account gets 1,000 free checks a year.
- MAS's Guidelines on Standards of Conduct for Digital Advertising Activities took effect on 25 March 2026. MAS notes it has seen representatives use deceptive practices such as catfishing to find leads on social media, and it expects firms to oversee what their representatives post.
- MAS's 2026 information paper on market conduct lists good practices it saw at firms, including representatives showing their name and representative number on their social media accounts and digital advertisements, and no aggressive or pressure tactics at roadshows.
The WhatsApp guide for financial advisors in Singapore goes through the same rules for WhatsApp in more detail.
Prospecting rules in the US
The Federal Communications Commission's rules (47 CFR 64.1200) say:
- No telephone solicitation to a home phone before 8am or after 9pm, local time where the person is.
- No telephone solicitation to a home number on the National Do Not Call Registry.
- To rely on the rule's protection for honest mistakes, you need written procedures and a copy of the registry that's no more than 31 days old when you make the call.
States have their own rules on top, so check with your firm for each state you call into.
Track prospecting like a pipeline
- Log every conversation the day it happens, with where the person came from.
- Once a month, count appointments by source. Put more hours into the source that books best.
- Keep a follow-up date on every open conversation, so nobody waits three weeks for a reply.
- On Friday, check the week against your number of conversations first, and cases second.
The sales call log template is a simple way to start.
Prospecting mistakes that cost you clients
- Relying on one source until it dries up.
- Asking for referrals once a year instead of after every good moment.
- Getting a friend's number without the friend knowing you'll call.
- Skipping the Do Not Call check because the message went by WhatsApp.
- Messaging from a profile that doesn't say who you are or which firm you represent.
- Following up forever. Stop when someone says no, and after your last planned follow-up.
Every conversation logged, every follow-up dated
This guide is free. ActivityTracker, the app we make, is paid. Here's what it does for prospecting.
- Calls, appointments and first meetings are one tap each to log, with the time
- The CRM keeps every prospect on a board by stage, with every message and note on their page
- WhatsApp chats land in one inbox, and a new enquiry becomes a contact with the chat attached
- Follow-ups are dated and reminded, so the second message goes out on the day you planned
- Broadcasts leave out anyone marked as opted out, checked again right before each message goes