Manage Your Practice
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Top 5 Things Advisors Would Change about Their Businesses
From SEI Advisor Network
Added on August 2014 in Manage Your Practice
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Summary: What would you change about your business? For many of you, it is all about marketing and new business development. In fact, according to a survey by Cerulli*, the average advisor only spends 15.7% of his or her time on new client acquisition. In Rick Henn’s SEI's Practically Speaking guest post, he outlines five simple things that advisors can implement with their marketing plans. Please enjoy Rick’s post.
Want to Be a Thought Leader? Here's How
From Financial Planning
Added on August 2014 in Manage Your Practice
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Summary: The planning industry is full of buzzwords, particularly in marketing. Anything that someone writes or develops is now “thought leadership.” Every special report or longish article is now a “white paper.” These terms are in danger of losing their meaning.Having worked with financial advisors for 25 years, I can say that most of them will never be seen as thought leaders – they just don’t have the time. That’s what it takes to be a thought leader: One must take the time to really think and advance the conversation around a body of thought.
How to Fix Your Strategic Plan
From Financial Planning
Added on August 2014 in Manage Your Practice
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Summary: Let's hope most advisors are better at planning their clients' futures than their own. Just 17% of respondents in a new study -- largely focused on advisors who have strategic plans for their firms -- say their strategic planning factored strongly in their recent success
How Advisors Can Make August Their Seventh Inning Stretch
From SEI Advisor Network
Added on August 2014 in Manage Your Practice
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Summary: If you take a look at your book today, are you on track? When I ask that question to many advisors, the first response is usually “On track for what?” What I am asking is: Do you have goals and are you tracking and measuring against those goals? Unfortunately, most track their book by AUM or gross revenue (sometimes GDC).
Watch Your Tone With Clients
From Wall Street Journal
Added on August 2014 in Manage Your Practice
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Summary: Sometimes it isn't what you say to the client. It's how you say it. If an adviser comes across as impatient or condescending, for example, the message won't be heard. "If you don't strike the right tone, your advice won't be followed, no matter how good it is," says Karol Ward, a New York psychotherapist and presentation coach.
