How To Generate Pension Transfer Leads in 2021

Pretty much every financial adviser wants to generate pension transfer leads. We have spoken with countless advisers across the world and that always seems to be the thing that they want to do business with.

We can understand why though. They represent very good value for money for the amount of work that needs to be done for them. They generate massive commissions for the advisers and can potentially be very useful for the clients who transfer them out.

For people living in the UAE, the UK/United Arab Emirates Double Taxation Convention means they are able to transfer all of their pension into the UAE and not pay any tax. Which is great for all involved, but you already knew this, which is why you’re trying to get as many pension transfer leads as you can.

Due to a number of global developments *Brexit, cough, COVID, cough* transfer rates are absolutely astronomical right now. The highest they’ve ever been. Again, great for you, the adviser and great for your client. 

There are a great deal of expats who have no idea how much their pension is worth, have multiple pension schemes and don’t know that they can potentially access it early in one form or another. On the face of it, this would seem like an ideal opportunity for all involved. 

In the UAE, pretty much everyone who has a pension that’s worth anything and is capable of being transferred has already been contacted. This makes things very problematic for advisers here for two reasons. 1) People are sick to death of being cold called by advisers 2) People think that advisers are only after their money.

Can you blame them? From the viewpoint of the person with the pension, they are getting a cold call about you moving their money from a protected pension plan they’ve worked many years of their life for into an account elsewhere in the world AND having the pleasure of paying you a big, fat commission for it. Doesn’t really seem so attractive from that point of view, does it?

Now, elsewhere in the world, this is not so much of a challenge. In fact there are vast untapped markets across the world where expats are sitting on huge pensions and have no idea they can transfer them, or how much money they are worth. Especially with expats living in Europe, many may want to move their pensions out early but simply don’t know how to do this, or what the process is of getting started. 

How To Generate Pension Transfer Leads

The good news about generating pension transfer leads is that it’s not really that hard to do. It shouldn’t really require huge volumes of manual work and if you’re doing it right absolutely no cold calling.

We’re going to give you a step-by-step plan on how to successfully generate super warm leads on a regular basis that are delivered directly into your inbox.

Probably the single most important piece of advice that we can give that has stayed relevant no matter what is this; not everyone is your peer.

When it comes to marketing, our clients are not as knowledgeable as us. In fact they often have very little idea about how we do things or even what should be done. Your prospects are the same. They have very little financial education and a 2019 survey shows that 99% of the population don’t think a financial adviser is meant for them.

We’ve tried so many variations of advertising copy and time and time again, the simplest, easiest to understand and that speaks to them about their specific challenges is the most effective. So, the first thing you have to do is understand your audience.

Pension Transfer Leads Personas

This is something we have perfected over time. We understand our audience, what they look like, what their goals, plans and challenges are. Why they would want to do the thing we are advertising for them to do and what they are going to get out of it. 

In order for you to reach the person you are how to work with, you need to understand them as a person. So, spend some time thinking about them. What do they do? Where do they like to spend their time? Ask these questions and you’ll soon find you’re able to have more meaningful conversations with your pension transfer leads.

A very basic tool we  like to use in creating pension transfer leads personas is this. The before and after grid. We think about 5 key things and put them into a grid of before and after:

• Have
• Feel
• Average Day
• Status Quo
• Result

Once we understand this, we can go about creating ideas that will entice them to speak with us.

Creating Pension Transfer Lead Assets

When trying to generate pension transfer leads it’s very important the prospect feels as though they are getting something of value, rather than simply being sold to. Advisers often dive straight into the sale without really ever trying to understand why someone would want to transfer their pension or if it would be any good for them. 

If you’ve done any sales training then you’ll be familiar with the pain/action threshold. Jordan Belforte talks about this in great detail in his Straight Line Persuasion training. Ultimately, when the pain threshold is high enough, then the action threshold drops and people will undertake the necessary steps to move things along.

Giving people a low barrier of entry to learn more about something that could raise their pain threshold is a great tool. You may want to create an ebook or other downloadable guide that allows prospects to learn more without having any direct sales contact.

Nurturing Pension Transfer Leads

A big challenge that advisers have when dealing with pension transfer leads is that once a deal is processed, it can take up to 6 months to actually see the money come through. There’s a huge lead up time to actually getting a payday, so many advisers want things to move as quickly as possible. 

What generally tends to happen here is that data is bought, LinkedIn messages are sent and a huge amount of time is spent smashing the phones cold calling. These are all terrible ideas. What we really want is to have an automatic process that allows leads to be able to get the information they want at a low barrier of entry and then build up a relationship with you, on autopilot, that means you eventually only have to make calls to warm pension transfer leads who already know who you are and how you can help them.

So, how do you do this? Well, simply by having an email automation sequence. A form connected on a website that automatically sends the assets to your prospect and then a series of emails with useful information every few days afterwards will allow you to potentially even have prospects book on your calendar without you doing anything.

Getting In Front Of Pension Transfer Leads

How do you actually get in front of pension transfer leads? We’ve already discussed that using LinkedIn for lead generation is a bad idea. However, it is very likely that the audience you are trying to reach is on Facebook.

Facebook has over 200 data points on everyone on its platform. That and it’s data partner sharing system means you are actually able to target people in incredibly accurate ways. You can even target expats from certain countries.

Using Facebook advertising you can ‘force’ your message into the space that they inhabit online. Assuming you know what you are looking for in advertising targeting options then it is very likely that you will be able to get your carefully thought out advert in front of your prospects. 

In terms of the cost of doing this we generate pension transfer leads for our clients within a range of 10-50AED per conversion, depending on the location. It’s considerably cheaper and time effective to be doing this than traditional lead generation methods.

Alternative Methods Of Getting In Front Of Leads

Are there other ways of getting in front of pension transfer leads? Yes. However, they require a considerably larger amount of money, time and effort. 

You can build groups on social media platforms, you can create videos on YouTube and post to your website, you can create articles to go on your blog, however, these are not really things that many advisers want to do because they take time, effort and expertise. 

The most productive and successful method is to spend money on Facebook advertising and leverage the platform. 

Get Adviser Leads Working For You

We know advisers are busy. We know they also don’t want to invest the time it takes to learn how to do everything we have listed above, and if we’re honest, this is a very truncated version of what needs to be done to successfully generate pension transfer leads. 

To learn more about how we can help you generate leads, click the button and make an appointment with us for a free consultation.