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Want to Continue to Succeed, Owner-Advisors? Give Up These 3 Sacred Cows

Added on July 2014 in Manage Your Practice
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Summary: I talked with a prospective client the other day, who asked me an unusual—and excellent—question: “Have you ever had any failed client relationships?” My answer was: “Yes, we have had some clients who haven’t worked out. Not many, but it happens.” The keys to successfully growing an advisory business are different at every growth stage: and the most successful firm owners realize that they will continually have to change the way they run their firms.

Five Tips for Enhancing Financial Advisor Productivity

Added on June 2014 in Manage Your Practice
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Summary: As you know all too well, the day-to-day world of a financial advisor is full of distractions.  That said, the following simple five tips for enhancing financial advisor productivity will help improve the efficiency of any advisor.

Advisors need to leverage interns

Added on June 2014 in Manage Your Practice
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Summary:Practice-management literature directs financial advisors to leverage their time more effectively through the use of interns and/or the hiring of younger planners.However, it seldom provides advice on the process of finding the next generation of financial advisors. The challenge is always where to find good candidates, how to keep a talented young advisor busy with productive work, or why clients might be interested in a firm's hiring processes. 

The Dynamics of Saying "I'm Sorry" to Clients

Added on April 2014 in Manage Your Practice
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Summary: People make mistakes. And when the mistake maker is a financial advisor, and the error affects a client, experts say a clear and unambiguous apology is called for. The rewards are easy: client loyalty and trust that goes on for years to come,” writes Xenos. “Also, it helps you as an advisor clear your conscience and feel truer with the relationship.

Advisor Pay Starts Low but Tops Out High

Added on March 2014 in Manage Your Practice
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Summary: Pay for financial advisors may start out slow, but it picks up steam, to make it — at the height of one’s career — among the most lucrative jobs in the financial-service industry, says InvestmentNews.

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