The following Q&A was completed as part of our conversational Commercial Real Estate FAQ Interview Series, we hope you find it helpful.
Finding high net worth doctors and dentists is a niche that can be difficult to break into. Cold calling and e-mailing isn’t efficient, but working with teams already experienced in working with these types of investors can help you to break into this space. The best way to approach working with more doctors and dentists is to first find your “in”.
Richard Wilson: Doctors and dentists and medical high net worth investors I know I’ve heard some people who have tried to work with this group are just not always the most responsive via e-mail to initiate a relationship with, so many times at our investment conferences we ask for advice from someone like yourself on how to get into a wealth advisor like yourself or a group of investors and, you know, referrals is a common answer. But if someone doesn’t have referrals, what would be your advice to someone looking to work with more dentists and doctors? Because it’s a hard area to break into, and you have the unfair advantage of being a dentist and selling your practice and learning all of this stuff. I mean it’s a real edge in the marketplace; if someone doesn’t have that, what advice would you give them?
Dr. Forrest Bryant: Well, you and I both kind of preach on efficiency a lot of the time. Going after one doctor at a time is just not an efficient way to do that, so cold calling the front desk doesn’t work, trying to get past the gatekeepers there. E-mails don’t really work, I mean, you know, even my team sometimes has a hard time connecting with some of our doctors. You know, if I text them they reply, but sometimes my team texts them and e-mails them and they reply to me because I have that relationship with them, but if you don’t have that, I would say there’s sponsors that are trying to break into this, this niche, you know. The most efficient way to do that I’d say is to work with somebody like us who’s – we’re a gatekeeper, we’re a quarterback, we’re a coach to a community of high net worth doctors and dentists. So there’s not many groups like ours, so certainly if you can find somebody like us or come straight to us, I would say that’s going to be the most efficient way to do it.
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