“Start by doing what’s necessary; then do what’s possible; and suddenly you’re doing the impossible.”– Francis of Assis
Whether you are dissatisfied with your production, your lifestyle, fulfilling your client responsibilities, your business growth, your differentiation, or having too many unprofitable clients, a structure, organized approach to your business can overcome your business challenges and drastically improve your outcomes.
Financial advisors must structure and organize their financial advisory practices so that they can put themselves in a position to grow their businesses and resolve their challenges. To structure and organize your business for efficiency and effectiveness, you need to:
Commit that every client you are willing to accept into your practice will receive a version of these processes based on their needs, the deliverables they deserve, their value to your business, and the fees you charge in compensation for the value you deliver.
These are the elements you need to implement to have a successful financial advisory practice. With the exception of the marketing and sales approaches you will choose to implement as part of your client acquisition strategy, this is not a pick and choose menu of options but is much more like a surgical process. From the time a patient arrives at a hospital for his or her procedure until the patient leaves the hospital as a healthy individual, there are no optional steps. They are all required for an optimal outcome.
Next Steps, Ask Yourself
David I. Leo
David Leo is Founder of Street Smart Research Group LLC. He is an author, speaker, coach, consultant, and trainer to financial professionals. David is an experienced business manager who works solely with Financial Advisors, Planners and firms who want to organize, structure & grow their businesses by attracting, servicing, and retaining affluent clients.
If you would like additional details or have any questions about his articles or an interest in coaching schedule a free 45 Minute Strategy Session @ https://calendly.com/davidileo or contact him @ David@CoachDavidLeo.com. Call 212-598-4229 (Office) or 917-379-1249 (Cell) and visit @ www.CoachDavidLeo.com