/ by David Hubbard / Best Practices / 0 comments
You can’t do this by yourself. You need a team. Even if the team is just you and a part-time person.
This seems like a no brainer, right? So, how come so many people get it wrong?
Too many financial advisors hire bodies to do the menial work of the business. Too few hire effective people to be part of their team.
Think of running your business like you are playing a team sport.
Your primary role should include “rainmaker”, “closer”, “presenter”, “relationship manager”, “planning and product expert”, etc. Somebody else should be doing the rest. Your team members should not be clones of yourself. They should be people who can fulfill the duties that you shouldn’t be doing and do them better than you can do them.
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In this category, we will share stories and practical tips for financial advisors and consultants which have proven to be best practices throughout the years.
12 Practice Building Tips for Financial Advisors
/ by Kirti Anand Sharma / Best Practices, Connelly Corner / 0 comments
According to U.S. Bureau of Labor Statistics, the projected change in the number of Personal Financial Advisors from 2012 to 2022 is +27%, which is much higher than the average growth rate (11%) for all occupations.
This is a sign of opportunity as well as an increase in competition.
To help you outrank this growing competition and at the same time, build an enjoyable and dynamic practice, check out the infographic below – featuring the top 12 practice building tips by Don Connelly. Check out the infographic.
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Do You Really Know Your Numbers?
/ by David Hubbard / Best Practices / 0 comments
Ok, you’re a great financial advisor, but are you a great businessperson? Really great people in business always know their numbers, but not just any numbers, the really important numbers!
Many people think that being a great businessperson is to be someone that is entrepreneurial, who can market and grow their clientele. While these are important aspects of running a great business, the great businessperson always focuses on the really important numbers of their business.
So, what are the REALLY IMPORTANT numbers that a financial advisor in business must know?
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What Does ‘Think on Your Feet’ Mean for a Financial Advisor?
/ by Don Connelly / Best Practices, Don Guest Authoring at... / 0 comments
An idiom is a phrase that cannot be taken literally. For anyone learning English, it must be disconcerting to hear that it’s raining cats and dogs outside. You and I know it’ll rain cats and dogs when pigs fly.
Think on your feet is just such an idiom.
Every Financial Advisor knows what it means to think and speak without special preparation. Being forced to think this way is neither fun nor comfortable. And it can lead to an awkward moment. We all wait for the train wreck when a speaker who is dependent on a teleprompter wanders off course. We all wander off course at one time or another.
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Make the Most out of Your Hiring
/ by David Hubbard / Best Practices / 0 comments
Last month, I wrote about the importance of putting together an effective team. The key to doing that is to hire the right people. Sounds easy, doesn’t it? It’s not.
The most difficult thing that I have done over the past 30 years is trying to hire the right people. In fact, I have probably interviewed 500 prospective employees, hired well over 100 and currently have a staff of about 40 people. I wish that I could say that I have learned how to always hire the right people. Unfortunately, I can’t. Nobody can.
Think about it.
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How to Manage Your Emotions in Difficult Situations
/ by Don Connelly / Best Practices / 0 comments
You know by now that I believe the development and use of certain soft skills contributes far more to our success than does the development and use of hard skills. Self-awareness is just such a soft skill. The importance of being aware of and controlling our emotions cannot be overstated.
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Building Your Business with These 12 Tips for Financial Advisors
/ by Don Connelly / Best Practices, Don Guest Authoring at... / 0 comments
This is one of Don Connelly’s guest posts over at FA Magazine, giving you 12 tips how to build a better and more enjoyable business.
1) Get really good at what you do. Do the ordinary things extraordinarily well.
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Maximize Your Efficiency
/ by Don Connelly / Best Practices / 0 comments
Michael from Bank of America asks how many hours a week he should be working to get to a certain level. The answer lies in the productivity of his work hours.
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Success Is a Team Sport
/ by David Hubbard / Best Practices / 0 comments
You can’t do this by yourself. You need a team. Even if the team is just you and a part-time person.
This seems like a no brainer, right? So, how come so many people get it wrong?
Too many financial advisors hire bodies to do the menial work of the business. Too few hire effective people to be part of their team.
Think of running your business like you are playing a team sport.
Your primary role should include “rainmaker”, “closer”, “presenter”, “relationship manager”, “planning and product expert”, etc. Somebody else should be doing the rest. Your team members should not be clones of yourself. They should be people who can fulfill the duties that you shouldn’t be doing and do them better than you can do them.
Read more
There Are Times When It’s Simply Best to Forgive and Forget
/ by Don Connelly / Best Practices / 0 comments
To succeed as a Financial Advisor, one has to accept that disappointment is inevitable. We don’t always get what we want. Disappointment breeds frustration. Negative emotions are unavoidable, yet they must be controlled. We’re in the business of controlling the emotions of others. We can’t do that well until we have control of our own emotions.
I think the best way to deal with disappointment is to put it in perspective.
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How Passion and Love for The Business Helps Financial Advisors Succeed
/ by David Hubbard / Best Practices, Managing the Relationship / 0 comments
Ok, it’s the moment of truth. Answer this question honestly. Do you love what you do? Wait, I didn’t say “like”, I said “LOVE”.
Hopefully, you answered with a yes!
Now, let me ask that same question a little differently. Are you passionate about helping your clients achieve their financial goals?
Again, I hope the answer is yes!
These are important questions that I ask the many financial advisors whom I coach. All of these financial advisors desire to be extremely successful. Unfortunately, not all of them are able to say that they love the relationship part of the business. That presents a major problem for them to achieve the success that they are looking for.
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