Money Management—In or Out?

by admin on July 24, 2014


No matter how sophisticated your solutions, there’s no replacement for close client relationships.

Key Takeaways

  • Every firm has a unique story and a unique way of managing money—make sure your approach stands out.
  • Be a logical, pragmatic solution provider for your clients, not someone who preys on their fear and greed.
  • Always be actively involved in your clients’ lives—not just in their financial decisions—even when you use external providers for certain services.

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Blue Ocean Wealth Management Demand

by admin on July 17, 2014


Create vast seas of uncontested market space and pull clients toward you

Key Takeaways

  • There may be 460,000 “financial advisors” in the U.S., but only 6.6 percent offer true wealth advisory services. Even better, four out of five successful investors are actively looking for a new advisor.
  • Wealth advisory services are the opposite of assets under management (AUM)—instead of offering a few services to many clients, you’re offering many services to a select few clients.
  • Research shows that nearly 90 percent of wealth management clients come from just two sources: your centers of influence (COIs) and your clients. That’s the Blue Ocean in which you should be swimming and marketing.

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Bridging the Succession Planning Gap

by admin on July 10, 2014


Key Takeaways

  • Older generations tend to think the next generation doesn’t have the same work ethic or willingness to pay their dues as they did.
  • Turns out that they do. They just have different values and go about things in a different way.
  • When it comes to succession planning, it’s important to understand other generations’ values and how they go about doing things.

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Silver Lining Planning

by admin on July 3, 2014


Smart advisors and their clients are prepared for all economic and investment cycles.

Key Takeaways

  • Your clients should always have enough cash on hand for the current year and for several years down the road.
  • It’s inevitable that another market downturn will occur. We just don’t know when. That’s why you and your clients need to be prepared at all times.
  • Smart advisors keep profit margins above 25 percent, avoid getting seduced by “hot products,” and stick with standard offerings that really make sense.
  • High-performing advisors stay calm during market storms and communicate well (and often) with clients.

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