Project vs. Process

by admin on July 31, 2014


Do you have the right people in the right roles?

Key Takeaways

  • Successful wealth advisory firms have both project managers and process managers—the jobs require two skills that are not the same.
  • Project managers love taking ownership of new initiatives and championing them throughout the organization as they bring them to fruition. Think new CRM system.
  • Process managers look for consistency—repeatable ways of doing things correctly. Think client onboarding.
  • High-performing firms make sure to put the right type of manager in the right type of role.

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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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