“I have always kept a handwritten calendar with codes for all I do throughout the day so I can review as needed to see how productive I have been or hold myself accountable.” Carol Rogers, Rogers & Co. – St. Louis, Mo.
Practice Management
This topic is all-encompassing and best practices will help drive your firm to a higher level of success. Our content offers information you need to manage a thriving practice and to meet your challenges.
Articles include ways of better serving clients, building the value of your practice, creating efficiency, choosing technology, utilizing time management procedures, hiring staff, operations, outsourcing, and more.
Systematize Your Service Offering
April 30, 2012 By Leave a Comment
Everyone will agree that client service is an important ingredient in order to retain business. But how do you ensure that you are providing the best service to your clients? A client service matrix can help you deliver outstanding service by defining what activities you will perform based on profitability of each relationship. This will in turn set expectations for your clients and become a central tool to assist you and your staff in servicing your clients. The end result is your firm will be more strategic, efficient and likely more profitable.
8 Must-Have iPad Apps for Financial Advisors
April 18, 2012 By 1 Comment
Last Month, Apple unveiled its ultra slender and light (.37 inches thick, 1.44 pounds) iPad3, promising to deliver twice the performance of the iPad 2. At $499, the iPad3 is becoming a valuable business tool for professionals in many fields, buoyed by more than 200,000 available apps. How can financial advisors utilize the power of the new iPad? Here are some helpful (and very affordable) apps, available from the Apple App store, some of which come recommended by financial advisors.
Three Risk Factors for Your Business (And How to Protect Yourself)
April 17, 2012 By Leave a Comment
Recently, I asked my advisor panel to share some of the biggest business risks they’re facing right now … It goes without saying that market and economic risk is a constant concern in this business. If the market tanks in 2012, you will lose revenue, and possibly clients – but it may also present opportunities to convince more new clients that they need your professional help.
A Reading List for Financial Advisors
April 4, 2012 By Leave a Comment
Is it time to update your Kindle?
In response to a question from a newer advisor, I polled my advisor panel for some book recommendations. They sent me their favorite titles on everything from practice management, to sales, to investment management. So, whether you’re just starting out in the business, or a seasoned vet, here are some good classic and more recent picks from a few of your colleagues.
The Best Career Advice I Ever Heard
April 2, 2012 By 1 Comment
I’ve been interviewing financial advisors for 15 years. During that time I’ve encountered some great tips on running an effective business … everything from time management advice, to marketing ideas, to client service techniques. The advice that really stands out? Here are three classic bits of wisdom …
6 Time Wasters You Probably Don’t Notice You’re Doing
April 2, 2012 By 1 Comment
We all have 24 hours in a day. But some people seem to get so much more done than the rest of us. How is that possible? Where are the time thieves that sap our productivity? Here are a few possible hidden time wasters:
3 Ways to ‘Spring Clean’ Your Book
March 28, 2012 By Leave a Comment
It’s officially spring, and while many of us attempt to spruce up the yard and house, it’s also a fine time to refresh your book of business, and grow relationships with clients. All it takes is a little work, with a goal of reconnecting.
So You’re Thinking About Retiring? Three Success Factors
March 14, 2012 By Leave a Comment
Many advisors in the thriving RIA business are reaching retirement age and looking for successful exit strategies. Recently I reached out to Woody Young of Quest Capital Management in Dallas, who retired last October after 25 years in business. He shared three success factors in his retirement transition.
Do You Have What It Takes to Be an Effective Business Owner?
March 7, 2012 By 2 Comments
Independent registered investment advisors are some of the most entrepreneurial-minded folks in the financial services industry. So what skills and/or attributes and habits do they possess to make it as business owners?
1. Integrity. One of my favorite RIAs adopted the slogan “non-negotiable integrity” for her business. She uses that as a mantra to keep her team on track, knowing their highest priority is client trust. Can your clients always count on you to tell the truth and act in their best interest? Do they feel you are completely trustworthy? The key to longevity in the fiduciary advice business is running an honest practice, admitting your mistakes, and striving for transparency and integrity in every transaction.
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