Many financial advisors may ask themselves: What is the most effective way to attract multimillion-dollar clients? These high-net-worth clients can be quite valuable, because working with them may allow advisors to decrease their client count while increasing their income at the same time.

One of the best ways to grow your HNW client roster is by forming a strategic alliance. A good strategic alliance can entice valuable clients and help trigger considerable growth in your business. In fact, I have seen advisors who master this strategy double their net income and triple their AUM.

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