Sales & Marketing
The client experience starts even before a prospect becomes a client, notes writer/researcher Julie Littlechild in a post at her Absolute Engagement blog. That is one of the reasons she recommends a process called “client journey mapping,” in which an advisor follows the client’s experiences – in their eyes – “all the way from uncovering a need, through the process of engagement and into a long-term relationship.” This helps an advisor spot opportunities to enhance the client experience – and to innovate, she explains. See the link to her post below. Also, during a recent Financial Advisor Success podcast, Michael Kitces talks with Scott Hanson, co-founder of Hanson McClain, an independent RIA, about how he and his partner grew their firm by specializing in Pacific Bell (now AT&T) retirees. Hanson also discusses the firm’s strong marketing focus (with a marketing staff of about 10) and how “the firm’s responsibility is to find the clients.” A link to the podcast follows.
Will You Stand Out or Fade Out?
by Julie Littlechild
Without a doubt, there’s great innovation in this industry and it deserves our attention and applause. The explosion in fintech is helping you become more efficient. And it’s helping to enhance your offer to clients. And while these advances are both important and significant for the industry, many of them are invisible to your clients. And that makes them very hard for clients to value or appreciate. Clients aren’t ‘on the inside’ so they may, in fact, assume you’re doing the very things that new technologies have made possible, faster or more accurate.
Turning A Utilities Niche And A Radio Show Into A National Advisory Firm with Scott Hanson
By Michael Kitces
Source: Nerd’s Eye View blog
Scott is a co-founder in Hanson McClain, an independent RIA based in the Sacramento area that manages nearly $2.5 billion of assets under management for nearly 4,500 clients, most of which are telecom and utility workers. What’s fascinating about Scott’s firm, though, is not merely that they managed to turn a niche in working with Pacific Bell retirees into a mega-RIA, but how their steady focus on reinvesting into marketing has allowed Hanson McClain to build an advisory firm where none of the advisors are responsible for their own marketing and business development, and instead can focus entirely on serving their clients.