The managed money process involves assessing a client’s risk capabilities and determining the investment asset mix. As consultants, we are responsible for both, but our involvement is limited to the latter. Although you, the consultant, conduct the risk profile analysis, the client is the one who ultimately determines their risk profile. Client Profiling Necessitates Change …
Return on Investment (or ROI) is traditionally the primary focus of investors. Returns are measured against past performance and future expectations. In Bull markets and thriving economies, clients are easy to please. During market downturns clients quickly become disenchanted with their ROI and, subsequently, their relationship with their primary advisor. In the typical Retail Practice, …
6 minute read The industry for Financial Professionals is information-driven. We must, by regulatory and industry requirements, commit to a continuous learning process. Even in those areas where we consider ourselves experts, we must continue to avail ourselves of the information that keeps us at the cutting edge of our industry. We must pledge to …
The Importance Of Continuing Professional Education Read More »
4 minute read One of the greatest stumbling blocks to happiness you’ll encounter in your professional practice is dealing with a customer who does not appreciate you, who does not use you to the fullest extent, or who does not trust you. Working with this person can turn your joy into drudgery; this is not …
2 minute read December is an excellent time for reflection and review. Between Christmas and New Year’s, the last week of the year has always been when I set time aside each year to think about life: what’s happened in the past, where I want to go in the future: to give it an extensive …
Future Proof Your Practice With A System For Achieving Goals Read More »
4 minute read Building trust and winning prospects’ confidence doesn’t begin with building rapport—despite years of expert testimony to the contrary. To kick off solid relationships with prospective customers, you’ll need to focus on one thing: positioning yourself as an expert. Picture this: a prospect leaves thinking precisely the same way he did when he …
Building Trust with Prospects: A 3-Step Strategy Read More »
5 minute read As many Investment Advisors and Professionals know, we are in an industry where lifestyle is abundant. Many of us can, and do, drive the nicest cars, wear the finest clothes, and live in the best neighborhoods. These are the results of succeeding in an industry that demands the most and rewards the …
6 minute read The Professional understands that communication with clients is of vital importance, not only in terms of the content delivered but also in how a Professional shares information. As a Professional Practice, my team and I focus on 24/7 service. We have made ourselves highly accessible to our coaching clients, Mastermind participants, and …
Investment Policy, Investment Strategy and the Professional Practice Read More »
4 minute read The world as we know it has changed, but some things remain constant: with all that has gone on in the last two years, clients are looking for a deeper, lasting relationship with a professional advisor. Today’s client seeks a professional advisor who understands the importance of client relationships and is invested …
Client Relationships: A Professional’s Most Important Asset Read More »
5 minute read Your Professional Practice is meant to grow. Whether you’re currently a rookie, sitting in the bullpen with a dozen other rookies, or an advisor with one assistant, or even a small team, you have the potential to reach the next stage of Professional Practice. A small team of two can turn into …
Creating An Operations Manual For Your Professional Practice Read More »
6 minute read Every business goes through five stages of change to achieve what we call The Professional Practice. What is The Professional Practice? A Professional Practice is a business that creates results in both your personal and your professional lives that are significantly beyond the effort and energy that go into it; a business …
4 minute read One of the biggest challenges many advisors face is building a high-performing team to service the needs of clients. Why? In a word: people. People not doing the right thing at the right time. People not following through. The list goes on. If you want to join the ranks of millionaires or …
3 minute read Are you still in the habit of learning new things? Many financial advisors wonder what they can do to become well-rounded and competitive while increasing their rate of success. A simple way to improve is to increase your knowledge. Dedicating yourself to being a lifetime learner is the greatest gift you can …
The Best Books for Professionals, Advisors & Practice Managers Read More »
The past several weeks have been a buzz of activity as my team and I finalized the materials for Trade Like A Pro. The course officially started on Monday, and the feedback so far has been positive. My intention in developing and refining Trade Like A Pro over the past ten years is to be …
I like to think I am in control of my life and that the things I desire I can have by working hard. A positive attitude and focused effort often lead to an outcome that is pleasing. Yet there are many things I want to be different and all my desire and effort at times seem to have little or no impact.
This time will embed itself in the memory of our families for the rest of their lives. Make it memorable in a good way. Many are working from home for the first time. Routines have changed. Distractions have increased. Finding that quiet moment may be difficult. But we can transform this time into different vivid remembrance if we desire.
Be the lighthouse in the midst of the darkness. You must become the architect of your client’s future. Only then will you future-proof your practice and avoid the risk of being blindsided. You do not control the loss, you control the avoidance of loss. Do not talk about what you don’t control, learn to talk about what you do control.
The news shouts the happenings of Wall Street. You can not turn on the TV or browse online without breaking news about the global markets. This post will not be a depressing restatement of the news. I want to clarify what is most important and not stated as loudly. Main Street is more important than Wall Street.
Canadian Securities Institute hosted an Exclusive Town Hall Webinar on April 7th, for Financial Advisors titled: HOW ARE YOUR CLIENTS DOING? HOW ARE YOU DOING? Barry LaValley and Dr. Gillian Leithman, and myself shared thoughts on three vital skills. Hundreds of advisors attended the meeting. Below is a description of the content and a link to the video.
This was a talk given on 7 April 2020 to financial advisors hosted by CSI.ca I remember October 19th, 1987, like it was yesterday. My chest tightened as I watched the stock market fall in the largest percentage drop in a single day — over twenty-two percent, almost twice the second worst day in history, …
One of the most effective forms of communication, has for many become a frustrating distraction. Their inboxes are filled with hundreds or thousands of earlier emails.
Most would agree a good habit gives individuals, teams, and organizations the power to create successful results. But what happens when the habit becomes “the way we have always done things”?
After thirty years of training and coaching, I have learned that two skills stand out as the most important to the success of any individual or team. Not knowing these skills can not be held against someone, because we are not taught the skills in school. Only a few ever discover their importance, master them, and rise to the elite ranks productivity and performance.
