Ineffective Habits of Financial Advisors (and the Disciplines to Break Them): A Framework for Avoiding the Mistakes Everyone Else Makes
Based on a 15-year consulting program that author Steve Moore
has led for financial advisors, Ineffective Habits of Financial
Advisors (and the Disciplines to Break Them): A Framework for
Avoiding the Mistakes Everyone Else Makes details proven
techniques which allow advisors to transform their business into an
elite practice: business analysis, strategic vision, exceptional
client service, and acquiring high net worth clients. Told through
the story of a purely fictional and completely average financial
advisor, each chapter begins with an ineffective habit that is then
countered with a discipline that improves business results and adds
value. The book
- Details a step-by-step strategy for working through current clients, rather than relying on cold calling to form new relationships
- Includes anecdotes collected through both personal experience and stories relayed to him by clients and colleagues
- Provides question and answer segments, examples, and homework assignments
Ineffective Habits of Financial Advisors (and the Disciplines to Break Them shows you how to deliver exceptional service while generating higher revenue per client.
Setting the Stage.
The 7 Ineffective Habits and the Disciplines to Break Them.
The Framework of the Book.
1 Stop Living Their Dream and Start Living Your Dream.
The 1st Ineffective Habit: Living Their Dream.
PURPOSE: The Primary Reason for the Work you do.
Business Goals: Specific Objectives that Support your Purpose.
Guiding Principles: The Rules that Guide Daily Decision Making.
Vivid Description: A Narrative of the Business Success You Intend to Create.
The Charle Young Story.
Determing Your Purpose.
Determining Your Business Goals.
Determining Your Guiding Prinicples.
Determining a Vivid Description.
Determing How You Plan to Keep the Dream Alive.
2 Stop Focusing on Quantity of Clients and Start Focusing on Quality of Clients.
The 2nd Ineffective Habit: Focusing on Quantity of Clients.
The Common Sense Principle.
3 Stop Hoarding Unprofitable Clients and Start Disengaging Unprofitable Clients.
The 3rd Ineffective Habit: Hoarding Unprofitable Clients.
Segment 1—The 20 to 40 Percent That Represents 1 Percent of Revenue.
Segments 2 and 3—Others you are Considering for Disengagement.
Stop Hoarding Unprofitable Clients and Start Disengaging Unprofitable Clients.
4 Stop Providing Only Investment Advice and Start Providing Wealth Management Advice.
The 4th Ineffective Habit: Providing Only Investment Advice.
Start Providing your Top 20 Percent with Wealth Management Advice.
Step 5: Present the Wealth Management Solution—The Financial Vision Document and Client Engagement Roadmap.
5 Stop Delivering Only Investment Reviews and Start Delivering WOW Wealth Management Reviews.
The 5th Ineffective Habit: Delivering Only Investment Reviews.
Client Needs Analysis.
Client Satisfaction Window.
Building the WOW Review System.
WOW Wealth Management Review Package.
6 Stop the Rainmaker Approach and Start the Team Approach.
The 6th Ineffective Habit: The Rainmaker Approach.
Team Core Competency Audit.
Team Development Evaluation.
Team Alignment and Empowerment Evaluation.
The Organizational Structure of the Team Approach.
Managing the Team Approach.
Coaching the Team.
The Acquisition of Talent.
Team Incentive Compensation.
Create a Best-of-Kind Team of Experts and Suppliers.
7 Stop Selling to Prospects and Start Selling Through Clients.
The 7th Ineffective Habit: Selling to Prospects.
Client Introductory Event.
Managing the Sales Pipeline.
Qualify a Call-in Lead.
Fact Finding, Planning, Solutions.
8 Jack's Awakening: An Elite Wealth Management Company.
About the Authors.
Gary Brooks, CFP, is the President of Brooks, Hughes & Jones, a Registered Investment Adviser, and a financial columnist for The News Tribune in Tacoma, Washington.
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