Perspectives

Visual Reminders of Your Value

The advisor was stunned. He had just learned that one of his clients was transferring out her investment accounts. He thought he was her go-to advisor. He had even helped find someone to remodel her kitchen! When he called to try to salvage the relationship, he learned that she had decided to move her accounts to the investment rep at the credit union where she had her checking account. To her, it was simply a matter of convenience! The advisor asked: How could I have prevented this? Is there anything […]

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How Well Are You Doing?

The college bowl games and Super Bowl are history, and March Madness is on the horizon. Then it’s the Masters’ tournament, the NBA playoffs and the Stanley Cup (they’re having it this year, right?).  I’m not a huge sports fan, but I do appreciate the fact that scores tell a story…maybe not the final story, but a real story for a specific time and place. We look at various types of scores in the financial world, too, don’t we? How did your clients do last year? How many new relationships […]

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Poised for Growth in 2013? Don’t Forget the Basics!

Whether you are an independent advisor or work at one of the major firms, you probably have your marketing plans in place for a strong 2013. But do you have the basic resources you need to operate efficiently and develop or maintain a strong team?  Based on our experience working with advisors in every business model, building and maintaining that strong system of people support is one of the biggest challenges successful advisors face. Do any of these scenarios sound familiar? You’d like to team with another advisor but you’ve […]

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Telling Your Story

Have you ever been in a situation where someone asked you about what you do and you stumbled around for a response? Perhaps a client said he tried to tell a friend or colleague about you, but didn’t really know what to say. Or maybe you need to update your website or put together a marketing package for a new prospective client or center of influence. Where do you start? Let’s begin with a few principles: Be intentional. No one can tell your story better than you, but spend some […]

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No More Waiting and Wishing – Three Steps to Attracting Higher Net Worth Clients

Have you done well in growing your business, but reached a point where you want to be more targeted in whom you bring on as new clients? Perhaps, like many advisors, you have struggled in your efforts to consistently attract new clients with that higher level of income and net worth. Your biggest challenge may be that you haven’t quite mastered how to reposition yourself from a generalist who works with a broad range of clients to a specialist who focuses on a specific type of client with specialized needs […]

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A Clean Slate

The new school year has started. For some children, it meant a brand new school; for others, it was simply a new teacher and classroom. Either way, before any grades were recorded, it was an opportunity to start fresh, to wipe the slate clean so to speak, and establish a new record. Wouldn’t it be great if we could do that? If you could wipe the slate clean and start over, what would your perfect practice look like? Would you have only clients that fit your definition of ideal—those you […]

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New Idea? How About a Reality Check?

Advisors often ask my opinion about various ideas they have heard from other advisors or read in industry publications. Many times these ideas relate to client events or some type of marketing concept. “Do you think this would work for me?” they ask. A good way to conduct a reality check is to ask yourself these five questions. 1.  What are you trying to achieve? Every activity, communication or process that you put into place should have a clear purpose related to the vision you have for the practice you […]

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Client Advisory Boards – 4 Keys to Success

Last week one of my clients asked about client advisory boards. Do I recommend them? How should they be put together? How should we plan for the meetings? The answer to the first question is – “yes!” The answer to the second and third is – just like everything else – “carefully, thoughtfully and with a specific purpose in mind.” A Client Advisory Board can be a tremendous way to enhance your decision-making process while  recognizing your best clients. Your clients can give you insight and perspective to help you […]

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Ride for Your Brand

Recently I met with an advisory practice from the middle of Kansas. The principal advisor is a native Kansan who lives on a ranch outside his town. He and his sons compete every year in rodeo calf-roping. His vision for his advisory business is to plant offices across the state. As we began to discuss his branding, how he wants to position his firm with clients both now and in the future, he told me about something called the Code of the West, which was first written about in Zane […]

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It’s OK to Say No

You may have heard that there was a big IPO a few weeks ago. Since its launch, we have heard a lot of discussion and read plenty of articles with various reasons that might explain Facebook’s unsuccessful IPO. Recently, I had an interesting conversation with an advisor about a story that Mark Zuckerberg had insisted the investment bankers increase the number of shares being offered. Referring to the bankers, the advisor asked me, “Why didn’t they tell him it would be a bad idea?” Assuming the premise was correct that […]

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