Professional Practice Management

Picture of Professional Money Manager to illustrate client profiling

Client Profiling, A Dynamic Process

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

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Eldery couple meeting with Financial Advisor to review return on investment

Return on Investment vs. Return on Relationship

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,

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Image of stack of books and a notebook with the title continuing professional education

The Importance Of Continuing Professional Education

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

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Picture of pendulum balls illustrating expertise is key to success in building trust

Building Trust with Prospects: A 3-Step Strategy

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

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Over the shoulder view of Professional sharing investment strategy

Investment Policy, Investment Strategy and the Professional Practice

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

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A picture of mature couple meeting financial advisor to illustrate client relationships

Client Relationships: A Professional’s Most Important Asset

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

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An operations manual in blue binder on desk in the office with calculator and pen

Creating An Operations Manual For Your Professional Practice

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

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books for financial professionals

The Best Books for Professionals, Advisors & Practice Managers

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

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Things You Can Control - sq

Trade Like A Pro – Part 3: What I Want Is Not Always What I Get

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.

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How to Become Your Client’s Financial Architect

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.

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Lunenburg NS Main Street vs. Wall Street

What to Say, Part Two: Main Street vs. Wall Street

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.

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CSI Hosts Exclusive Town Hall Webinar

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.

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Necessary Skills for Investment Advisors

Two Skills Every Advisor Must Master

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.

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