The key for advisers is finding a balance where they maintain the maximum freedom that enables them to focus on their purpose.
My experience has shown me that advisers who target a specific niche of clients receive more referrals, are able to provide better service and can charge higher fees.
One of the main reasons we were able to achieve what we have is because we hire and retain great people who are highly skilled at what they do.
The more complicated you make your advisory firm, the less valuable it is. Complexity can also reduce the odds of arriving at a fruitful succession plan.
If you are a competent, caring, hands-on financial adviser, you should charge a market rate for your services.
We’ve gone from $2 billion to over $10 billion in AUM in four years because we’ve consistently adhered to three broad principles: Everything must be repeatable, measurable and scalable.
Advisers should focus on reducing client attrition and adding more new clients, and make certain they're charging a fee in line with the market.
It’s hard work, but if an adviser is serious about growing, the best approach is good old-fashioned prospecting.
The approaches of the different types of buyers vary, so it’s essential to know how they approach the process.
Have systems in place so that clients experience a personal connection on a regular basis. This includes reminders to call or email them simply to touch base and let them know you’re thinking of them.
