how cross selling works
cross selling to existing clients is one of the primary methods of generating new revenue for many businesses including financial advisors this is perhaps one of the easiest ways to grow their business as they have already established a relationship with the client and are familiar with their needs and objectives however advisors need to be careful when they use this strategy a money manager who cross sells a mutual fund that invests in a different sector can be a good way for the client to diversify their portfolio however an advisor who tries to sell a client a mortgage or other product that is outside the advisor s scope of knowledge can be a disservice to a customer and damage the business relationship 