What’s Your Biggest Payoff?

Your workday is riddled with traps that threaten your time and productivity. Investment News recently published an article on 5 tips to boost advisers' productivity and included a quick list of 5 common time sucks: Email jail and the ensuing administrative work. Repeatedly solving the same problem instead of creating a process. Chasing wrong-fit centers of influence. Letting your day have its way with you. Following the Internet rabbit wherever it leads you. The Big ...

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You, But At A Fraction Of The Cost?

Earlier this month, Personal Capital, the financial software and online wealth management company, shared this on Twitter: That's right. They now manage over 1 Billion in client investments. Last week, I saw a handful of online ads for robo-advisors as I read through articles on Forbes, Fast Company, and The Wall Street Journal. Ads like this: What Does This Mean For You? It means your competition is not limited to flesh and blood. The robo-advisor is here. Managing ...

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3 Ways to Connect With And Engage Your Clients’ Children

If you work with high net worth clients, you’re hopefully thinking ahead about how to retain those assets when their children eventually inherit. If you’re not, you should be. You’ve probably seen this statistic thrown around: 90-95% of heirs will choose another advisor after inheriting wealth. Think about what that represents: lost revenue, lost time replacing the client, and the expense of replacing that relationship. Building relationships with the next generation now will help improve your ...

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5 Things Financial Advisers Can Learn From The Oscars

Did you watch the 86th Academy Awards ceremony? Whether you're an occasional theatergoer or an impassioned movie buff, you can learn a handful of useful lessons from the Academy Awards that can help you improve your practice. Here are 5 lessons financial advisers can learn from the film industry's most prestigious honor. 1. KNOW YOUR CATEGORY It's not just one Oscar that gets awarded. There are awards for many categories like best makeup, set design, supporting roles, screenplays, etc. Do you ...

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Are You Worth It?

If you want to get more referrals, you have to make yourself worth referring. You, your practice, and the value you deliver need to be worth talking about. This doesn't happen by chance. Think about the last time you recommended: Movies Books Restaurants Professional services Was your recommendation chosen randomly, or was there a reason behind it? Too often, professionals cross their fingers, hoping to get referrals. Or they practically beg clients to "Give me the names and numbers of 3 ...

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Why a Client Bill of Rights?

A Client Bill of Rights. How is it possible that a single piece of paper can set you apart in the eyes of clients while also making you more persuasive? It may be tempting to write off the use of a Client Bill of Rights as superfluous, but don't be so hasty. I'm going to show you how this can be beneficial to your practice and to your clients. A Client Bill of Rights shows clients: What you stand for How you deliver value What you expect from them It's not enough to simply tell your ...

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NextGen Is Coming. Are You Ready?

Born in 1981, I belong to Generation Y. I’m also an investment advisor representative and a consultant to 960 financial professionals. Because of where I personally fit in, the conversation about what the next generation wants from financial advisor relationships intrigues me. In most respects, I believe my generation wants the same things other generations want: sound advice for a reasonable price, accessibility, communication, transparency. In other respects though, I must acknowledge that ...

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Helping Your Clients In Times Of Grief

When a client loses someone – especially a spouse – they are left with many complex burdens. Not only do they have to cope with their own grief, but there are financial and social responsibilities that need to be cared for. While helping a grieving client can be challenging and even uncomfortable, it can also be one of the most important services an advisor provides. A 2011 New York Life survey of bereaved parents found that 58% of respondents agreed with the statement, “Losing my spouse has ...

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LinkedIn 101: A Guide for Financial Advisors

With over 135 million users and a targeted userbase of business professionals, LinkedIn is the world’s largest professional network. If you don’t have a LinkedIn profile, you could be missing out on opportunities to connect with clients, prospects, and industry professionals. Important conversations about financial topics take place on LinkedIn all the time; by participating in these conversations, you can establish your thought-leadership and increase the visibility of your practice. More than ...

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