Strategies for Improving an Advisory Practice without Adding Staff

Eileen Carpenter in an article in Financial Planning describes 6 ways to boost productivity without the costs and issues associated with adding staff. Perform a thorough client segmentation analysis and use the results to allocate resources more strategically. Develop different client service models that provide the right level of assistance for each client segment. Establish a set of investment strategies that are client suitable and efficient to manage. Evaluate and consider changing the roles and responsibilities on the team. Define the role and goals for new...

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How the Best Planners Win Over Prospects

By Vince Valenti You Never Get a Second Chance to Make a Good First Impression You’ve just booked an appointment with a prospect that was referred to you from one of your clients. The prospect has told you that he/she is shopping for a new financial advisor and that you’re one of three financial advisors that will be interviewed. What impression will you make to set you apart, and land the client? Next Steps For some financial planners, their next...

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How to Network to Attract More Clients

By Katie Kuehner-Hebert Financial advisors can prosper in their practice if they network with the right people or join the right groups to attract more clients, provided that they actually interact and then do the necessary follow-up work. “I feel that you get out of it what you put into it,” says Claudia E. Mott, a planner at Epona Financial Solutions LLC in Basking Ridge, N.J. “To be successful, you have to follow up with those who might be a...

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