The Cotton Client Acquisition System™

Juli Leith, BA, FLMI, CLU
The Personal Coach
Waterloo Ontario

Rob Tick FMA, FCSI
Investment Advisor
Toronto, Ontario

Peter Pearson CFP
Financial Advisor
Squamish, BC

The concept of precision marketing helped me realize that identifying my ideal client was important and that was a big key to positive change. I discovered that on-profile clients are those I enjoyed working with who have demonstrated a lot of trust in me. Not only was it a pleasure working with these people, but by coincidence they are the most profitable as well. Once these situations were identified, I immediately felt more comfortable asking for their help with new client acquisition.

I now understand the meaning of precision marketing and how the focus on working with a specific profile creates efficiency and proficiency. New clients understand I expect to be introduced to others just like them who can benefit from working with a financial professional like me. The Cotton approach has provided the turn key method of growth that has been missing in my business.

Rick Johnson, CFP, CLU, CH.F.C.
Director, Practice Advisory Services, Advocis
The Financial Advisors Association of Canada

The precision marketing philosophy and client acquisition process Cotton teaches properly integrates fundamental issues such as Know Your Client requirements, competency levels, compensation disclosure, business affiliations, E&O exposure and good compliance, not because of regulatory concerns, but simply because of its effect on viable marketing and the positive impact on income generation for the financial advisor.

The amazing result is that Cotton’s approach eliminates client acquisition issues by opening doors with prospective clients who are directly aligned with the advisors unique value proposition. The traditional rejection model experienced by so many advisors becomes almost nonexistent. Advisor profitability, advisor retention, professionalism and consumer satisfaction jump significantly when the precision marketing concepts are properly implemented.

For these reasons I am pleased that Wayne ’s concepts are firmly grounded in the Advocis Best Practices Manual. I am also convinced that the precision marketing workshops Wayne will conduct across Canada will help Advocis bring Best Practices to life.

Doug Loewen
Edmonton, Alberta

When I first got into the business, I was proud to be known as the 'benefits guy'. When I met with someone, my goal was to sell them a health plan and if in the future I could put some life insurance or disability in place, then great. The Viewpoint has changed all that. Now people tell me what they want and it usually results in lot more business than I was getting before. More importantly, I am getting it all right away. Your system has turned my business around significantly.

Wayne Cotton is the Tiger Woods of the financial services industry. Lots of us can golf, but there is only one Tiger Woods. Likewise, Wayne is the one who has perfected the philosophy and process of client acquisition and business growth.

Cotton has developed by far the best process I have seen in 35 years in this industry. It includes proven tools, defined skill building and core concepts for practice management and business development.

The Cotton System dramatically cut down my frustrations levels and my prospecting time. I not only have more selling time, but more importantly, more time with my family.

This past year, I served as president of the local association, received my CLU, moved into my own office and am way ahead of being on track for MDRT. In addition, I will have my second child in six weeks. It would be impossible for me to balance all these things if I didn’t have a terrific system that keeps me extremely focused.

I describe the Cotton System as a bridge between where you are now to where you want to go. I use the whole system and it helps me put everything in the right place. The system builds your confidence level, whether you are new or established. I know exactly what I am supposed to say and what I am supposed to do. It takes the guesswork out of the whole client acquisition process.

Before I started using this system, I didn’t think I was worthy of receiving referrals. The components in the system fixed my attitude by making me realize I have something to offer and that based on the service I provide, I deserve referrals.

I use the Business Development Program™ just the way it is designed. The referral process helps clients realize that I can help others, just like I helped them. They also understand why I need their Prestige Introductions™ to new, on-profile prospects. These introductions are critical, as consumer confidence is low and people don’t want all the promotional gimmicks. Prospects are hesitant to do business with someone unless they know someone who has previously worked with that advisor.

The Cotton System builds trust. People are willing to talk. I currently obtain 9 appointments out of 10 phone calls. My calendar is full on 10 calls a week. Now when someone says ‘no’, I almost feel like saying, ‘What’s your problem?’

The discovery preview is great. It keeps that first appointment to a small commitment of time. The Viewpoint™ disturbs people and makes them realize how much they don’t know about their situation. It positions me as an advisor, not a salesperson. It sets the groundwork for the next step in the process. The self-discovery process provides the momentum for people to move into the next steps.

I guess you can tell I am pretty sold on the Cotton System.

I recently bought the Cotton Client Acquisition System™ and started studying. I decided to try out some of the tools, even though I haven't learned all the techniques in the program. I want to report that I have found it very easy to get started with this system.

I began using the system when I met with a client and showed her the Business Development Program™ prospecting presentation. She gave me 17 Prestige Introduction™ brochures with handwritten notes of introduction.

I put half in the mail this week and the second half will go in next week. I am sure your system will swamp me with referrals in just a few weeks! Another person saw my introduction brochures and handed out three to people he knew. I called three people and made three sales!

I have tried two Financial Viewpoints™ and found they cut my meeting time significantly. When people complete the self-discovery questionnaire, they know exactly what they want. I feel that I look very professional using these tools.

I also went to the Registered Owner section of the website and I love the Client Development Checklists™. I am excited about learning the whole program.

I found it quite scary to go on the Cotton System. You get comfortable with chasing all kinds of sales and to think of focusing on a specific profile is a challenge. I have been driving long distances, doing single interview sales and doing quite well. The system helps you become more focused and makes you concentrate on seeing the right people.

I transitioned to doing more planning trail situations with on-profile prospects. I am using the Estate Development Program™ Wayne developed for the bottom half of the sales process. I find that it gets clients involved and helps answer objections in advance. I am doing a better job of fact-finding and presenting my recommendations.

In addition to the core elements of the Cotton System, I am also using Wayne’s Financial Overview™ to find cash flow in each situation. The combination of the above events has caused my average size sale to triple in the past three months and now I see clearly how I can qualify for MDRT.

I moved my family to Springfield in 1997. I had only 32 contacts with people in town. I built my business by using Wayne’s Business Development Program™ referral system to prospect for new on-profile prospects. Then I mastered the use the Prestige Introduction™ process for prestige introductions to each new prospect.

My income has grown from $75,000 to over $400,000 in five years. Last year I added nearly $18,000,000 in new assets under management. I continue to use Cotton concepts every single day. I am just now realizing the total power of Wayne ’s profiling concept.

Myron Friesen
Osage, Iowa

Update from a recent conversation with Wayne:

Myron is averaging 10 or 11 Prestige Introductions each time he uses the referral presentation. His business is going really well for him and his anxiety level is very low. Everything has fallen into place and he continues to be very sold on the system. He says that the system works, so there is no need to change!

I live in a small town in northern Iowa and work in the farm estate planning market. I use the Cotton System for all my new client acquisition activities. I don’t do any seminars, advertising, or promotion. One hundred percent of my new business is done through referrals and Prestige Introductions™ from existing clients.

The system helps me be positioned as a problem solver. It is very non-threatening. I was pretty skeptical at first – this sounded too good to be true. But I tried it and it works! The very first time I used the Business Development Program™, I received 32 Prestige Introductions™ to new prospects. Eighteen of those people became clients.

I am pretty excited about the Cotton System, because it has helped me double my income in each of the last two years.

Greg Blaeser, CLU, ChFC
St. Paul, Minnesota

We are all looking for high quality, qualified prospects. Many producers end up spending a lot of money on direct mail, promotional campaigns, lead generation programs and seminars to accomplish this important task. The result is often diffusion.

We are in a relationship business. The Cotton System is the ideal way for to develop excellent relationships without the cost of all the other methods of client acquisition. Once an advisor is set up with the system, the continuing cost of operating the system is virtually nothing.

This system is terrific. It gives me an organized method of doing business that really works. I am averaging 8.1 Prestige Introductions™ each time I ask for referrals using the Business Development Program™.

Consumers are very receptive to this approach because there are no surprises. I had 33 opening interviews with new prospective clients last month. I have nine closing interviews this week. I am at the point of having almost too much activity!

Ted Gliske
St. Paul, Minnesota

I have been in this business for 32 years. The Cotton System has helped me eliminate diffusion and a lot of frustration. It helps to keep me on track with seeing the right people. I just used the referral presentation and received 30 high quality referrals.

This system is a value-added process that helps prospects feel a lot more comfortable, while leaving me in the driver’s seat. People tell you exactly what they want to talk about. I just follow through. My life is simpler now, and I can take a lot more time off.

The Cotton System is 'awesome'. It opened my eyes to working on profile. Like many others in this business, I was all over the map. After 20 years, I was still doing night work, and kitchen table interviews. The Cotton System helped me to focus on the right profile of a prospect. It taught me how to get prospects to come to me. Now 98% of my business is done in my office before 5pm .

My first year on the system, my income went up 80%, but the exciting part is that my time on the golf course went up too! The second year my income went up another 80%.

Last year, I got caught up in some serious diffusion and got away from the system. Finally my wife helped me understand it was time to get back to work! Now I am back on track with client acquisition activities and doing great again. I met my goals last quarter and will stay on track in the future. The system works – if you work the system!

James Schindler
Verona, Pennsylvania

I was just learning the Cotton System when I suffered a serious medical crisis in April of 2000. I was hospitalized for three months and for the rest of the year, could only work a few hours a day, a few days each week. I was in trouble and I knew the only way I could survive this setback was through Wayne ’s system.

I followed the client acquisition process and to my amazement, my income that year working only part-time, was up 24% over the previous year. Then, using the system and staying on profile, I doubled my income the following year and I accomplished this result with less than half the number of cases. The efficiency of this process is incredible.

I especially like working on a referral basis, with Prestige Introductions from one person to the next. People are very receptive to this approach and I end up with appointments in my office. I highly recommend this system to all who wish to grow.

This system brings a real focus to the way we conduct business. It helps develop a real sense of direction. You know how to get in front of the right people, which leads to a higher level of efficiency. You put in less time, yet become more productive.

Consumers relate to the professionalism. It is clear that you are not just pulling things out of the air. You have a system of helping people. It puts prospects at ease and they have a lot of ownership because of their participation in the process.

This system works! My focus is farm estate planning. When I was thinking of getting into this area of expertise, a veteran told me I would be successful if I did 12 cases in this market a year. At the time, I didn’t have a clue how to get started in this market.

The Cotton System taught me how to get where I wanted to go. It has provided me with a process and a methodology to replicate success rather than depending on luck. I have followed the principles Wayne teaches and now I do 12 significant cases a month!

Jerry LaValley, CLU, CIC, ChFC
Grand Rapids, Michigan

We focus on selling, yet this is a prospecting business. Through proper prospecting, we can see more of the right people at the right time. That’s what the Cotton System does for me.

The Business Development Program™ is great. All the people I see are on my current profile where I get my best results.

The largest number of Prestige Introductions™ I have received in one situation is 19. The lowest number is 4. I have a stockpile of on-profile referrals to see and they are all the ‘right’ people!