Episodi
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We're about to have a "Family Moment"…
This is when we have a tough-love conversation about the fact that things will never be the same again -- And that it's not a "bad thing" if you embrace and capitalize on the change. In fact, we are seeing a major “COVID bounce” that spans across multiple business sectors!
Today, your business should be hitting new high-water marks. Retooling for a New World. USAF is a Mirror-Reflection of Financial Advisors. I know this because we are simply an aggregate mirror-image of the advisors who are affiliated with us, and WE are hitting new high-water marks -- Therefore, THEY are hitting new high water marks. The revenue structure of your business is essential. Fee & transactional (commission) revenue go hand-in-hand. Certain products, necessary for planning, dictate the fee vs. transactional choice. NOTHING ELSE DOES -- Not your licensure, not your personal preference. Your best clients expect both. People want to KEEP the newfound convenience and benefit of dual communications. In-Person Office visits. Video visitsArticles referenced:
https://www.wsj.com/articles/cheesecake-to-go-saved-the-cheesecake-factory-11635450438?mod=Searchresults_pos2&page=1
https://www.mckinsey.com/industries/financial-services/our-insights/the-value-of-personal-advice-wealth-management-through-the-pandemic
https://www.cnbc.com/2021/04/13/advisors-are-changing-how-they-interact-with-clients-due-to-pandemic.html
Consider subscribing for continued insights from Advisor Advancement:
https://www.youtube.com/AdvisorAdvancement
https://advisoradvancement.com/For more of The RARE Advisor:
http://www.therareadvisor.com
The RARE Advisor is a business model supercharged by Recurring And Repeatable Events. With more than thirty years of working with and coaching successful advisors, host Mike Walters (along with other leaders in the industry), discusses what it takes to grow a successful practice. With the aim of helping financial professionals and financial advisors take their business to the next level, Mike Walters shares insights and success stories that make a real impact. Regardless of the stage of your practice, The RARE Advisor will provide thoughtful guidance, suggestions for developing systems and processes that work, and ideas for creating an authentic experience for your clients.The RARE Advisor is part of the Advisor Advancement Network, powered by USA Financial and committed to empowering financial advisors and financial professionals since 1988.
Advisor Advancement was born from a desire and a need for our contributors to communicate with the financial advice community in a much different way. Created by industry professionals committed to advancing the advisor profession one video, blog, podcast, and tweet at a time. We talk about practice management, marketing, compliance, business development, and a myriad of other things financial advisors may want to hear, rant, or lament about.Contact us:
Phone (888) 444-0125
https://www.usafinancial.com/
https://www.facebook.com/usafinancial/
https://www.linkedin.com/company/usafinancial1/
Powered by USA Financial#usafinancial #advisoradvancement #therareadvisor #rareadvisor #efficientbusiness #financialbusiness #businesscoaching #financialadvisor #financialadviser #growfinancialbusiness #growfinancialpractice #growfinancialfirm #advisorybusiness #covidbounce #newworldforadvisors
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Baby Boomer retirements DOUBLED in year 2020 over what took place in 2019!
Oct. 25, 2021, Investment News: Early Retirement surging as a result of Covid, research finds.An estimated 5.25 million people who left the workforce during the Covid-19 pandemic and of that, 3 million (which is over 57%) appear to have retired earlier than they planned to.
Baby boomer retirement shot up in 2020, with 3.2M boomers retiring, more than double the rate of 1.5M seen in 2019.
Articles referenced from Investment News and Pew Research:
- https://www.investmentnews.com/covid-early-retirement-rearch-213183
- https://www.pewresearch.org/fact-tank/2020/11/09/the-pace-of-boomer-retirements-has-accelerated-in-the-past-year/
Consider subscribing for continued insights from Advisor Advancement:
https://www.youtube.com/AdvisorAdvancement
https://advisoradvancement.com/For more of The RARE Advisor:
http://www.therareadvisor.com
The RARE Advisor is a business model supercharged by Recurring And Repeatable Events. With more than thirty years of working with and coaching successful advisors, host Mike Walters (along with other leaders in the industry), discusses what it takes to grow a successful practice. With the aim of helping financial professionals and financial advisors take their business to the next level, Mike Walters shares insights and success stories that make a real impact. Regardless of the stage of your practice, The RARE Advisor will provide thoughtful guidance, suggestions for developing systems and processes that work, and ideas for creating an authentic experience for your clients.The RARE Advisor is part of the Advisor Advancement Network, powered by USA Financial and committed to empowering financial advisors and financial professionals since 1988.
Advisor Advancement was born from a desire and a need for our contributors to communicate with the financial advice community in a much different way. Created by industry professionals committed to advancing the advisor profession one video, blog, podcast, and tweet at a time. We talk about practice management, marketing, compliance, business development, and a myriad of other things financial advisors may want to hear, rant, or lament about.Contact us:
Phone (888) 444-0125
https://www.usafinancial.com/
https://www.facebook.com/usafinancial/
https://www.linkedin.com/company/usafinancial1/
Powered by USA Financial#usafinancial #advisoradvancement #therareadvisor #rareadvisor #efficientbusiness #financialbusiness #businesscoaching #financialadvisor #financialadviser #growfinancialbusiness #growfinancialpractice #growfinancialfirm #advisorybusiness #babyboomer #earlyretirement
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Episodi mancanti?
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Overlapping the areas that matter with the areas that can be controlled is a recipe for a successful business model…but then overlapping your passions as the third dimension, that is what can build a dynasty!
Consider subscribing for continued insights from Advisor Advancement:
https://www.youtube.com/AdvisorAdvancement
https://advisoradvancement.com/For more of The RARE Advisor:
http://www.therareadvisor.com
The RARE Advisor is a business model supercharged by Recurring And Repeatable Events. With more than thirty years of working with and coaching successful advisors, host Mike Walters (along with other leaders in the industry), discusses what it takes to grow a successful practice. With the aim of helping financial professionals and financial advisors take their business to the next level, Mike Walters shares insights and success stories that make a real impact. Regardless of the stage of your practice, The RARE Advisor will provide thoughtful guidance, suggestions for developing systems and processes that work, and ideas for creating an authentic experience for your clients.The RARE Advisor is part of the Advisor Advancement Network, powered by USA Financial and committed to empowering financial advisors and financial professionals since 1988.
Advisor Advancement was born from a desire and a need for our contributors to communicate with the financial advice community in a much different way. Created by industry professionals committed to advancing the advisor profession one video, blog, podcast, and tweet at a time. We talk about practice management, marketing, compliance, business development, and a myriad of other things financial advisors may want to hear, rant, or lament about.Contact us:
Phone (888) 444-0125
https://www.usafinancial.com/
https://www.facebook.com/usafinancial/
https://www.linkedin.com/company/usafinancial1/
Powered by USA Financial#usafinancial #advisoradvancement #therareadvisor #rareadvisor #efficientbusiness #financialbusiness #businesscoaching #financialadvisor #financialadviser #growfinancialbusiness #growfinancialpractice #growfinancialfirm #advisorybusiness #venndiagram #dynasty
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Achieving your ideal practice requires you to be a contrarian. You will never get there following the mainstream down the path of products, pricing, and performance. But you can get there through Process and Platform Partnership. Understanding What Matters & What Can be Controlled. Working too many hours? Inconsistent revenue streams? Do you live and die on prospect flow? Do you run endless seminar events? Staff turnover? Chained to your desk? Unable to regularly duplicate your best clients? THIS ALL MATTERS & CAN ALL BE CONTROLLED What WILL NOT help any of this is Products, Pricing & Performance. What WILL help is Processes & Platform Partner. Your IDEAL Practice Requires and IDEAL Partner. Ivy League Universities = 5% Community Colleges = 100% Law of Familiarity / Loyalty Fatigue. Are you just a number? LPL has 19,000 today -- CEO is targeting 300,000 Financial Advisor IQ & Barrons Your Story Your Goals Your Barriers Your List that Makes up Your Ideal Practice How your Ideal Partner can get you there. Sources Referenced:
-Financial Advisor IQ, September 16, 2021, LPL Capable of Growing to 300,000 Financial Advisors: CEO.
-Barron's Advisor, September 13, 2021, LPL Financial is Growing Like Gangbusters. Expect More, CEO Says.
Consider subscribing for continued insights from Advisor Advancement:
https://www.youtube.com/AdvisorAdvancement
https://advisoradvancement.com/For more of The RARE Advisor:
http://www.therareadvisor.comThe RARE Advisor is a business model supercharged by Recurring And Repeatable Events. With more than thirty years of working with and coaching successful advisors, host Mike Walters (along with other leaders in the industry), discusses what it takes to grow a successful practice. With the aim of helping financial professionals and financial advisors take their business to the next level, Mike Walters shares insights and success stories that make a real impact. Regardless of the stage of your practice, The RARE Advisor will provide thoughtful guidance, suggestions for developing systems and processes that work, and ideas for creating an authentic experience for your clients.
The RARE Advisor is part of the Advisor Advancement Network, powered by USA Financial and committed to empowering financial advisors and financial professionals since 1988.
Advisor Advancement was born from a desire and a need for our contributors to communicate with the financial advice community in a much different way. Created by industry professionals committed to advancing the advisor profession one video, blog, podcast, and tweet at a time. We talk about practice management, marketing, compliance, business development, and a myriad of other things financial advisors may want to hear, rant, or lament about.Contact us:
Phone (888) 444-0125
https://www.usafinancial.com/
https://www.facebook.com/usafinancial/
https://www.linkedin.com/company/usafinancial1/
Powered by USA Financial#usafinancial #advisoradvancement #therareadvisor #rareadvisor #efficientbusiness #financialbusiness #businesscoaching #financialadvisor #financialadviser #growfinancialbusiness #growfinancialpractice #growfinancialfirm #advisorybusiness #idealpractice #betterpractice
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Introductions are light years better than referrals; however, most advisors don't know how to duplicate the clients that are likely to make those introductions! It’s crucial that you must first uncover and quantify them.
Total Customer Value (TCV) = 1 Yr Revenue | 3 Yr Revenue | 5 Yr Revenue Total Maven Value (TMV) = TCV + TCV of those they've introduced. Identify Your BEST Customers & BEST Identify the Demographics & Psychographics of Mavens. Target them for duplication via introductions.Consider subscribing for continued insights from Advisor Advancement:
https://www.youtube.com/AdvisorAdvancement
https://advisoradvancement.com/For more of The RARE Advisor:
http://www.therareadvisor.comThe RARE Advisor is a business model supercharged by Recurring And Repeatable Events. With more than thirty years of working with and coaching successful advisors, host Mike Walters (along with other leaders in the industry), discusses what it takes to grow a successful practice. With the aim of helping financial professionals and financial advisors take their business to the next level, Mike Walters shares insights and success stories that make a real impact. Regardless of the stage of your practice, The RARE Advisor will provide thoughtful guidance, suggestions for developing systems and processes that work, and ideas for creating an authentic experience for your clients.
The RARE Advisor is part of the Advisor Advancement Network, powered by USA Financial and committed to empowering financial advisors and financial professionals since 1988.
Advisor Advancement was born from a desire and a need for our contributors to communicate with the financial advice community in a much different way. Created by industry professionals committed to advancing the advisor profession one video, blog, podcast, and tweet at a time. We talk about practice management, marketing, compliance, business development, and a myriad of other things that financial advisors may want to hear, rant, or lament about.Contact us:
Phone (888) 444-0125
https://www.usafinancial.com/
https://www.facebook.com/usafinancial/
https://www.linkedin.com/company/usafinancial1/Powered by USA Financial
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The single question that outperforms every customer survey, customer satisfaction score and quality assessment tool -- plus uncovers your best customers for introductions.
The net promoter score is the single best gauge for your marketplace success. "How likely is it that you would recommend INSERT COMPANY NAME HERE to a friend or colleague?" Overall potential scoring range of -100 thru +100. Scale of 0-10. Promoters = 9-10 Passives = 7-8 Detractors = 0-6 Score = %Promoters - %Detractors (use visual).Consider subscribing for continued insights from Advisor Advancement:
https://www.youtube.com/AdvisorAdvancement
https://advisoradvancement.com/For more of The RARE Advisor:
http://www.therareadvisor.comThe RARE Advisor is a business model supercharged by Recurring And Repeatable Events. With more than thirty years of working with and coaching successful advisors, host Mike Walters (along with other leaders in the industry), discusses what it takes to grow a successful practice. With the aim of helping financial professionals and financial advisors take their business to the next level, Mike Walters shares insights and success stories that make a real impact. Regardless of the stage of your practice, The RARE Advisor will provide thoughtful guidance, suggestions for developing systems and processes that work, and ideas for creating an authentic experience for your clients.
The RARE Advisor is part of the Advisor Advancement Network, powered by USA Financial and committed to empowering financial advisors and financial professionals since 1988.
Advisor Advancement was born from a desire and a need for our contributors to communicate with the financial advice community in a much different way. Created by industry professionals committed to advancing the advisor profession one video, blog, podcast, and tweet at a time. We talk about practice management, marketing, compliance, business development, and a myriad of other things that financial advisors may want to hear, rant, or lament about.Contact us:
Phone (888) 444-0125
https://www.usafinancial.com/
https://www.facebook.com/usafinancial/
https://www.linkedin.com/company/usafinancial1/Powered by USA Financial
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The Time-Lag Property and Loss (P&L) statement is the only real-life financial view of your business. Understanding it can drive strategy and solve many, many problems in running your practice.
P&L statements are a vertical snapshot frozen in time. The balance sheet or net worth statement is also a snapshot. Revenue and Expense seldom start and end in the same month. Expense = Investment in future revenue. Time delay (Seminar example).Consider subscribing for continued insights from Advisor Advancement:
https://www.youtube.com/AdvisorAdvancement
https://advisoradvancement.com/For more of The RARE Advisor:
http://www.therareadvisor.comThe RARE Advisor is a business model supercharged by Recurring And Repeatable Events. With more than thirty years of working with and coaching successful advisors, host Mike Walters (along with other leaders in the industry), discusses what it takes to grow a successful practice. With the aim of helping financial professionals and financial advisors take their business to the next level, Mike Walters shares insights and success stories that make a real impact. Regardless of the stage of your practice, The RARE Advisor will provide thoughtful guidance, suggestions for developing systems and processes that work, and ideas for creating an authentic experience for your clients.
The RARE Advisor is part of the Advisor Advancement Network, powered by USA Financial and committed to empowering financial advisors and financial professionals since 1988.
Advisor Advancement was born from a desire and a need for our contributors to communicate with the financial advice community in a much different way. Created by industry professionals committed to advancing the advisor profession one video, blog, podcast, and tweet at a time. We talk about practice management, marketing, compliance, business development, and a myriad of other things that financial advisors may want to hear, rant, or lament about.Contact us:
Phone (888) 444-0125
https://www.usafinancial.com/
https://www.facebook.com/usafinancial/
https://www.linkedin.com/company/usafinancial1/Powered by USA Financial
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Understanding and applying the Cost-Credibility Matrix will keep both your time and your money focused on promotional opportunities that you can control and that matter most.
High Cost + Low Credibility = Worst combo possible. (cringy billboards) Low Cost + Low Credibility = Next worst quadrant. High Cost+ High Credibility = Most controlled quadrant of value. Low Cost + High Credibility = the Holy Grail of Marketing and positioning. (buy your way hear thru quad 3)Consider subscribing for continued insights from Advisor Advancement:
https://www.youtube.com/AdvisorAdvancement
https://advisoradvancement.com/For more of The RARE Advisor:
http://www.therareadvisor.comThe RARE Advisor is a business model supercharged by Recurring And Repeatable Events. With more than thirty years of working with and coaching successful advisors, host Mike Walters (along with other leaders in the industry), discusses what it takes to grow a successful practice. With the aim of helping financial professionals and financial advisors take their business to the next level, Mike Walters shares insights and success stories that make a real impact. Regardless of the stage of your practice, The RARE Advisor will provide thoughtful guidance, suggestions for developing systems and processes that work, and ideas for creating an authentic experience for your clients.
The RARE Advisor is part of the Advisor Advancement Network, powered by USA Financial and committed to empowering financial advisors and financial professionals since 1988.
Advisor Advancement was born from a desire and a need for our contributors to communicate with the financial advice community in a much different way. Created by industry professionals committed to advancing the advisor profession one video, blog, podcast, and tweet at a time. We talk about practice management, marketing, compliance, business development, and a myriad of other things that financial advisors may want to hear, rant, or lament about.Contact us:
Phone (888) 444-0125
https://www.usafinancial.com/
https://www.facebook.com/usafinancial/
https://www.linkedin.com/company/usafinancial1/Powered by USA Financial
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There is one overarching directive that elite advisors realize consciously or unconsciously. The things that matter most and are also controllable.
When you first launch and are still small, TIME is your cheapest commodity. But when you have reached a level of success or are growing rapidly, TIME becomes your most valuable resource. The space where Things that Matter overlaps with Things you can Control… This is What you should Focus on. Keeping your focus on what matters and is controllable is where your time is best well spent.Consider subscribing for continued insights from Advisor Advancement:
https://www.youtube.com/AdvisorAdvancement
https://advisoradvancement.com/For more of The RARE Advisor:
http://www.therareadvisor.comThe RARE Advisor is a business model supercharged by Recurring And Repeatable Events. With more than thirty years of working with and coaching successful advisors, host Mike Walters (along with other leaders in the industry), discusses what it takes to grow a successful practice. With the aim of helping financial professionals and financial advisors take their business to the next level, Mike Walters shares insights and success stories that make a real impact. Regardless of the stage of your practice, The RARE Advisor will provide thoughtful guidance, suggestions for developing systems and processes that work, and ideas for creating an authentic experience for your clients.
The RARE Advisor is part of the Advisor Advancement Network, powered by USA Financial and committed to empowering financial advisors and financial professionals since 1988.
Advisor Advancement was born from a desire and a need for our contributors to communicate with the financial advice community in a much different way. Created by industry professionals committed to advancing the advisor profession one video, blog, podcast, and tweet at a time. We talk about practice management, marketing, compliance, business development, and a myriad of other things that financial advisors may want to hear, rant, or lament about.Contact us:
Phone (888) 444-0125
https://www.usafinancial.com/
https://www.facebook.com/usafinancial/
https://www.linkedin.com/company/usafinancial1/Powered by USA Financial
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How to conduct pandemic sensitive events so that your clients and prospects will be comfortable and excited to attend. Much has changed, and the positioning of your events must evolve to compete.
Old days of meal vs no meal. Today is about masks and social distancing. Be sensitive. People are in different camps with differing mindsets. (airport example) Be transparent -- explain the set up on the invite. You can please some of the people some of the times, some of the people all of the time -- But you cannot please all of the people all of the time. (and that is OK) Again, be sensitive -- provide alternative (record meetings, etc.)Consider subscribing for continued insights from Advisor Advancement:
https://www.youtube.com/AdvisorAdvancement
https://advisoradvancement.com/For more of The RARE Advisor:
http://www.therareadvisor.comThe RARE Advisor is a business model supercharged by Recurring And Repeatable Events. With more than thirty years of working with and coaching successful advisors, host Mike Walters (along with other leaders in the industry), discusses what it takes to grow a successful practice. With the aim of helping financial professionals and financial advisors take their business to the next level, Mike Walters shares insights and success stories that make a real impact. Regardless of the stage of your practice, The RARE Advisor will provide thoughtful guidance, suggestions for developing systems and processes that work, and ideas for creating an authentic experience for your clients.
The RARE Advisor is part of the Advisor Advancement Network, powered by USA Financial and committed to empowering financial advisors and financial professionals since 1988.
Advisor Advancement was born from a desire and a need for our contributors to communicate with the financial advice community in a much different way. Created by industry professionals committed to advancing the advisor profession one video, blog, podcast, and tweet at a time. We talk about practice management, marketing, compliance, business development, and a myriad of other things that financial advisors may want to hear, rant, or lament about.Contact us:
Phone (888) 444-0125
https://www.usafinancial.com/
https://www.facebook.com/usafinancial/
https://www.linkedin.com/company/usafinancial1/Powered by USA Financial
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The disservice of products, price and performance has been undermining the financial services industry since the beginning of time -- and it continues to be true today! Here's how you rise above:
The Advisor vs. the Salespest How do your best clients describe you? How do your best clients describe stockbrokers and insurance agents? It's all they have to sell It's all the know how to sell. Live by the sword, die by the sword. Products, Price and Performance are the crutch of the salespest -- and of the wholesaler Themselves and their expertise. Their philosophy Their Planning Strategy Name them Make them memorable Make them tangible Their Process Advisors understand what they are actually selling is… Did not say… I'll get you this interest rate. I'll outperform the market.I'll create a financial plan for free in hopes you do business with me. Between now and the next time we get together, I'll identify the areas I feel we can create the most value for you so that you can make an educated decision as to whether or not you wish to engage the services of me and my firm… Fair enough?Consider subscribing for continued insights from Advisor Advancement:
https://www.youtube.com/AdvisorAdvancement
https://advisoradvancement.com/For more of The RARE Advisor:
http://www.therareadvisor.comThe RARE Advisor is a business model supercharged by Recurring And Repeatable Events. With more than thirty years of working with and coaching successful advisors, host Mike Walters (along with other leaders in the industry), discusses what it takes to grow a successful practice. With the aim of helping financial professionals and financial advisors take their business to the next level, Mike Walters shares insights and success stories that make a real impact. Regardless of the stage of your practice, The RARE Advisor will provide thoughtful guidance, suggestions for developing systems and processes that work, and ideas for creating an authentic experience for your clients.
The RARE Advisor is part of the Advisor Advancement Network, powered by USA Financial and committed to empowering financial advisors and financial professionals since 1988.
Advisor Advancement was born from a desire and a need for our contributors to communicate with the financial advice community in a much different way. Created by industry professionals committed to advancing the advisor profession one video, blog, podcast, and tweet at a time. We talk about practice management, marketing, compliance, business development, and a myriad of other things that financial advisors may want to hear, rant, or lament about.Contact us:
Phone (888) 444-0125
https://www.usafinancial.com/
https://www.facebook.com/usafinancial/
https://www.linkedin.com/company/usafinancial1/Powered by USA Financial
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Let’s talk about how this valuation growth happened!
Concentrate on electronic, digital and video communications. Convert to online client events and remote meetings. Introduction program to duplicate the top 10%-20% of your clientele. Re-engage with live events as possible and wise. Embrace and/or emphasize AUM -- recurring revenue.
--USA Financial affiliated advisors 12-Month Blue Book Valuations ending 2021.06.30 = +13.7% over 12-month valuations ending 2020.06.30.Consider subscribing for continued insights from Advisor Advancement:
https://www.youtube.com/AdvisorAdvancement
https://advisoradvancement.com/For more of The RARE Advisor:
http://www.therareadvisor.comThe RARE Advisor is a business model supercharged by Recurring And Repeatable Events. With more than thirty years of working with and coaching successful advisors, host Mike Walters (along with other leaders in the industry), discusses what it takes to grow a successful practice. With the aim of helping financial professionals and financial advisors take their business to the next level, Mike Walters shares insights and success stories that make a real impact. Regardless of the stage of your practice, The RARE Advisor will provide thoughtful guidance, suggestions for developing systems and processes that work, and ideas for creating an authentic experience for your clients.
The RARE Advisor is part of the Advisor Advancement Network, powered by USA Financial and committed to empowering financial advisors and financial professionals since 1988.
Advisor Advancement was born from a desire and a need for our contributors to communicate with the financial advice community in a much different way. Created by industry professionals committed to advancing the advisor profession one video, blog, podcast, and tweet at a time. We talk about practice management, marketing, compliance, business development, and a myriad of other things that financial advisors may want to hear, rant, or lament about.Contact us:
Phone (888) 444-0125
https://www.usafinancial.com/
https://www.facebook.com/usafinancial/
https://www.linkedin.com/company/usafinancial1/Powered by USA Financial
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Do you feel chained to your desk? Or maybe you do not have enough revenue generating opportunities? Either way, you need to gain sustainable critical mass -- Let's talk about how to do that and learn the 3 steps to building critical and sustainable mass in your practice.
Client events – Starting Point. Expert authority Only thing for sale is you Leads to guest appearances Quickest most controllable way to build clientele On the bubble – Events + Introductions When client events have created enough A clients. Begin running events for just the A clients. Make them a subset of your overall practice. These are the people you wish to duplicate. Plant the seed for introductions. Introductions Only – Critical Mass Obtained. Concentrate solely on duplicating best clients. Introductions. If you care about them, we care about them, because you care about them. The process is what is important. Introductions -- Not referrals (vested interest).Consider subscribing for continued insights from Advisor Advancement:
https://www.youtube.com/AdvisorAdvancement
https://advisoradvancement.com/For more of The RARE Advisor:
http://www.therareadvisor.comThe RARE Advisor is a business model supercharged by Recurring And Repeatable Events. With more than thirty years of working with and coaching successful advisors, host Mike Walters (along with other leaders in the industry), discusses what it takes to grow a successful practice. With the aim of helping financial professionals and financial advisors take their business to the next level, Mike Walters shares insights and success stories that make a real impact. Regardless of the stage of your practice, The RARE Advisor will provide thoughtful guidance, suggestions for developing systems and processes that work, and ideas for creating an authentic experience for your clients.
The RARE Advisor is part of the Advisor Advancement Network, powered by USA Financial and committed to empowering financial advisors and financial professionals since 1988.
Advisor Advancement was born from a desire and a need for our contributors to communicate with the financial advice community in a much different way. Created by industry professionals committed to advancing the advisor profession one video, blog, podcast, and tweet at a time. We talk about practice management, marketing, compliance, business development, and a myriad of other things that financial advisors may want to hear, rant, or lament about.Contact us:
Phone (888) 444-0125
https://www.usafinancial.com/
https://www.facebook.com/usafinancial/
https://www.linkedin.com/company/usafinancial1/Powered by USA Financial
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Many advisors aspire to be an investment manager rather than a financial advisor -- and this can undermine the value and salability of the business. There are very few ways to stop devaluing your business, learn them here.
If performance is down, your client has just one solution -- fire you. No one wants to buy your job, they want to buy your business. You lose economies of scale and ability to duplicate or leverage yourself.InvestmentNews: Stop Devaluing Your Business
- Scott Hanson
"If most professional money managers can’t outperform the indexes, neither can advisers and financial planners. And aside the question of whether this sort of active management provides any real value to a client, even if it is accretive and delivers alpha, it absolutely reduces the value of the firm.
You see, if the recurring revenues generated by his practice were based upon transferrable, repeatable financial planning and elite customer service disciplines, one could easily build a case that this sort of client deliverable could be handled by another financial adviser or acquiring firm.The problem is that in the clients’ eyes, it becomes he alone, along with his ability to outsmart the markets, that comprises the value of his firm.
Any acquiring firm will look at his practice as high risk in the areas of potential portfolio losses and client attrition, and subsequently reduce the price it is willing to pay."
Possible Solutions:
Stop digging the hole. Convert to a collection of 3rd party asset managers. Rebuild with the right tools. Craft actual models and execute with asset manager trade technology.Consider subscribing for continued insights from Advisor Advancement:
https://www.youtube.com/AdvisorAdvancement
https://advisoradvancement.com/For more of The RARE Advisor:
http://www.therareadvisor.comThe RARE Advisor is a business model supercharged by Recurring And Repeatable Events. With more than thirty years of working with and coaching successful advisors, host Mike Walters (along with other leaders in the industry), discuss what it takes to grow a successful practice. With the aim of helping financial professionals and financial advisors take their business to the next level, Mike Walters shares insights and success stories that make a real impact. Regardless of the stage of your practice, The RARE Advisor will provide thoughtful guidance, suggestions for developing systems and processes that work, and ideas for creating an authentic experience for your clients.
The RARE Advisor is part of the Advisor Advancement Network, powered by USA Financial and committed to empowering financial advisors and financial professionals since 1988.
Advisor Advancement was born from a desire and a need for our contributors to communicate with the financial advice community in a much different way. Created by industry professionals committed to advancing the advisor profession one video, blog, podcast, and tweet at a time. We talk about practice management, marketing, compliance, business development, and a myriad of other things that financial advisors may want to hear, rant, or lament about.Contact us:
Phone (888) 444-0125
https://www.usafinancial.com/
https://www.facebook.com/usafinancial/
https://www.linkedin.com/company/usafinancial1/Powered by USA Financial
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Seminars are back, returning with a lift in response rate numbers from pent-up demand after lockdowns.
The previous video referenced, "Is now the best time for seminars?"In this RARE we cover:
Higher live event RSVP percentage response. Higher closing rates from live events. How clients are seriously looking to replace old advisors.--> !!! Reach out to us below for a free copy of the periodic table created to track the best timing for live events/seminars and referenced in this RARE video!
Contact us:
Phone (888) 444-0125
https://www.usafinancial.com/
https://www.facebook.com/usafinancial/
https://www.linkedin.com/company/usafinancial1/Consider subscribing for continued insights from Advisor Advancement:
https://www.youtube.com/AdvisorAdvancement
https://advisoradvancement.com/For more of The RARE Advisor:
http://www.therareadvisor.comThe RARE Advisor is also a podcast! Subscribe today via Apple Podcasts, Google Podcasts, or your preferred podcast listening service for easier on-the-go listening.
The RARE Advisor is a business model supercharged by Recurring And Repeatable Events. With more than thirty years of working with and coaching successful advisors, host Mike Walters, along with other leaders in the industry, discusses what it takes to grow a successful practice. With the aim of helping financial professionals and financial advisors take their business to the next level, Mike Walters shares insights and success stories that make a real impact. Regardless of the stage of your practice, The RARE Advisor will provide thoughtful guidance, suggestions for developing systems and processes that work, and ideas for creating an authentic experience for your clients.
The RARE Advisor is part of the Advisor Advancement Network, powered by USA Financial and committed to empowering financial advisors and financial professionals since 1988.
Advisor Advancement was born from a desire and a need for our contributors to communicate with the financial advice community in a much different way. Created by industry professionals committed to advancing the advisor profession one video, blog, podcast, and tweet at a time. We talk about practice management, marketing, compliance, business development, and myriad other things that financial advisors may want to hear, rant, or lament about.Powered by USA Financial
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How is it that 3 years is the over-under magic number for staff, and likely the same for clients? Understanding this difference can alter the adherence and retention of your practice dramatically.
Article Quote -- "We're actually seeing that employees that spend more than 4 years at the same company are more inclined to want to come back -- newer employees who have worked at the company less than 3 years, seem to prefer to work from home."
--> What does this mean for your culture? Your staff? Your clients?
Adhering people to your business/practice more rapidly is key.
Article referenced: Inc. article, "Nearly 75% of businesses report they're bringing employees back to the office".Consider subscribing for continued insights from Advisor Advancement:
https://www.youtube.com/AdvisorAdvancement
https://advisoradvancement.com/For more of The RARE Advisor:
http://www.therareadvisor.comThe RARE Advisor is a business model supercharged by Recurring And Repeatable Events. With more than thirty years of working with and coaching successful advisors, host Mike Walters, along with other leaders in the industry, discusses what it takes to grow a successful practice. With the aim of helping financial professionals and financial advisors take their business to the next level, Mike Walters shares insights and success stories that make a real impact. Regardless of the stage of your practice, The RARE Advisor will provide thoughtful guidance, suggestions for developing systems and processes that work, and ideas for creating an authentic experience for your clients.
The RARE Advisor is part of the Advisor Advancement Network, powered by USA Financial and committed to empowering financial advisors and financial professionals since 1988.
Advisor Advancement was born from a desire and a need for our contributors to communicate with the financial advice community in a much different way. Created by industry professionals committed to advancing the advisor profession one video, blog, podcast, and tweet at a time. We talk about practice management, marketing, compliance, business development, and myriad other things that financial advisors may want to hear, rant, or lament about.Contact us:
Phone (888) 444-0125
https://www.usafinancial.com/
https://www.facebook.com/usafinancial/
https://www.linkedin.com/company/usafinancial1/Powered by USA Financial
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We all have mental triggers. When they are gone, we suffer. We don't have an efficient way to get in the zone. Our businesses falter. This info will help you recapture that advantage.
Without a commute there is often no distinction between work and home life. 30 minutes each way is the average. Prepping & downloading for your day. No trigger to get mentally in the zone. Must refabricate. How you dress. Getting coffee. Need a ritual. Working ON the business vs IN the business.Article referenced: The Atlantic, July/August 2021 edition, titled, "The Psychological Benefits of Commuting to Work".
Consider subscribing for continued insights from Advisor Advancement:
https://www.youtube.com/AdvisorAdvancement
https://advisoradvancement.com/For more of The RARE Advisor:
http://www.therareadvisor.comThe RARE Advisor is a business model supercharged by Recurring And Repeatable Events. With more than thirty years of working with and coaching successful advisors, host Mike Walters (along with other leaders in the industry), discusses what it takes to grow a successful practice. With the aim of helping financial professionals and financial advisors take their business to the next level, Mike Walters shares insights and success stories that make a real impact. Regardless of the stage of your practice, The RARE Advisor will provide thoughtful guidance, suggestions for developing systems and processes that work, and ideas for creating an authentic experience for your clients.
The RARE Advisor is part of the Advisor Advancement Network, powered by USA Financial and committed to empowering financial advisors and financial professionals since 1988.
Advisor Advancement was born from a desire and a need for our contributors to communicate with the financial advice community in a much different way. Created by industry professionals committed to advancing the advisor profession one video, blog, podcast, and tweet at a time. We talk about practice management, marketing, compliance, business development, and myriad other things that financial advisors may want to hear, rant, or lament about.Contact us:
Phone (888) 444-0125
https://www.usafinancial.com/
https://www.facebook.com/usafinancial/
https://www.linkedin.com/company/usafinancial1/Powered by USA Financial
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Learn how we score the stock market based on power, support, and demand from this recent message we sent to retail investors and clients of USA Financial Formulas through our Trending Report show. This is not a typical RARE Advisor video, but it will give you a rare ‘behind the scenes’ of our formulaic trending money manager! There has been great movement below the waterline in the stock market lately, join CEO Mike Walters to find some of the markers that can cause that water to turn over.
The USA Financial Trending Report is a monthly update from the investment professionals at USA Financial Formulas® with a candid and educational discussion regarding the state of the markets, economy, and other factors that may impact investment accounts. We also publish the monthly Trend Tracker, giving special attention to current market indicators and RAM® Score and Mapper Score™, exclusive proprietary formulaic trending calculations we pioneered to eliminate emotion and provide direction in investing.
Consider subscribing for continued insights from Advisor Advancement:
https://www.youtube.com/AdvisorAdvancement
https://advisoradvancement.com/For more of The RARE Advisor:
http://www.therareadvisor.comThe RARE Advisor is a business model supercharged by Recurring And Repeatable Events. With more than thirty years of working with and coaching successful advisors, host Mike Walters (along with other leaders in the industry), discuss what it takes to grow a successful practice. With the aim of helping financial professionals and financial advisors take their business to the next level, Mike Walters shares insights and success stories that make a real impact. Regardless of the stage of your practice, The RARE Advisor will provide thoughtful guidance, suggestions for developing systems and processes that work, and ideas for creating an authentic experience for your clients.
The RARE Advisor is part of the Advisor Advancement Network, powered by USA Financial and committed to empowering financial advisors and financial professionals since 1988.
Advisor Advancement was born from a desire and a need for our contributors to communicate with the financial advice community in a much different way. Created by industry professionals committed to advancing the advisor profession one video, blog, podcast, and tweet at a time. We talk about practice management, marketing, compliance, business development, and myriad other things that financial advisors may want to hear, rant, or lament about.Contact us:
Phone (888) 444-0125
https://www.usafinancial.com/
https://www.facebook.com/usafinancial/
https://www.linkedin.com/company/usafinancial1/Powered by USA Financial
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You can create a compelling value proposition for your services with risk management that simply cannot happen when based on asset allocation. Here are 5 Reasons Risk Management is likely more important than Asset Allocation in your financial advisory business.
Consider subscribing for continued insights from Advisor Advancement:
https://www.youtube.com/AdvisorAdvancement
https://advisoradvancement.com/For more of The RARE Advisor:
http://www.therareadvisor.comThe RARE Advisor is a business model supercharged by Recurring And Repeatable Events. With more than thirty years working with and coaching successful advisors, host Mike Walters, along with other leaders in the industry, discuss what it takes to grow a successful practice. With the aim of helping financial professionals and financial advisors take their business to the next level, Mike Walters shares insights and success stories that make a real impact. Regardless of the stage of your practice, The RARE Advisor will provide thoughtful guidance, suggestions for developing systems and processes that work, and ideas for creating an authentic experience for your clients.
The RARE Advisor is part of the Advisor Advancement Network, powered by USA Financial and committed to empowering financial advisors and financial professionals since 1988.
Advisor Advancement was born from a desire and a need for our contributors to communicate with the financial advice community in a much different way. Created by industry professionals committed to advancing the advisor profession one video, blog, podcast, and tweet at a time. We talk about practice management, marketing, compliance, business development, and myriad other things that financial advisors may want to hear, rant, or lament about.Contact us:
Phone (888) 444-0125
https://www.usafinancial.com/
https://www.facebook.com/usafinancial/
https://www.linkedin.com/company/usafinancial1/Powered by USA Financial
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This could be the best timing for seminar events over the history of your career as a financial professional and advisor. Here are 7 Reasons Seminar Events in 2021 may be more valuable than ever before!
Consider subscribing for continued insights from Advisor Advancement:
https://www.youtube.com/AdvisorAdvancement
https://advisoradvancement.com/For more of The RARE Advisor:
http://www.therareadvisor.comThe RARE Advisor is a business model supercharged by Recurring And Repeatable Events. With more than thirty years working with and coaching successful advisors, host Mike Walters, along with other leaders in the industry, discuss what it takes to grow a successful practice. With the aim of helping financial professionals and financial advisors take their business to the next level, Mike Walters shares insights and success stories that make a real impact. Regardless of the stage of your practice, The RARE Advisor will provide thoughtful guidance, suggestions for developing systems and processes that work, and ideas for creating an authentic experience for your clients.
The RARE Advisor is part of the Advisor Advancement Network, powered by USA Financial and committed to empowering financial advisors and financial professionals since 1988.
Advisor Advancement was born from a desire and a need for our contributors to communicate with the financial advice community in a much different way. Created by industry professionals committed to advancing the advisor profession one video, blog, podcast, and tweet at a time. We talk about practice management, marketing, compliance, business development, and myriad other things that financial advisors may want to hear, rant, or lament about.Contact us:
Phone (888) 444-0125
https://www.usafinancial.com/
https://www.facebook.com/usafinancial/
https://www.linkedin.com/company/usafinancial1/Powered by USA Financial
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