/ by Don Connelly / Best Practices / 0 comments
Financial advisors must manage all aspects of their advisory business to ensure client satisfaction, business growth, and profitability. That includes compliance, marketing, business operations, financial management, and professional development. But by the time you’re done with all that, your time typically goes unmanaged.
The bottom line is that if you’re not in control of your time, you’re not in control of your business. That means your business controls you, making growing it nearly impossible.
With business demands pulling you in multiple directions, you have less time and focus for your top two priorities: client acquisition and retention. Anything less than an equal measure of highly concentrated effort in both will invariably lead to stagnation, client attrition, or both.
With time as one of your most valuable assets, it’s crucial to implement strategies tailored to help you prioritize your time and balance these competing priorities.
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Time Management Strategies for Financial Advisors: Balancing Client Acquisition and Retention
/ by Don Connelly / Best Practices / 0 comments
Financial advisors must manage all aspects of their advisory business to ensure client satisfaction, business growth, and profitability. That includes compliance, marketing, business operations, financial management, and professional development. But by the time you’re done with all that, your time typically goes unmanaged.
The bottom line is that if you’re not in control of your time, you’re not in control of your business. That means your business controls you, making growing it nearly impossible.
With business demands pulling you in multiple directions, you have less time and focus for your top two priorities: client acquisition and retention. Anything less than an equal measure of highly concentrated effort in both will invariably lead to stagnation, client attrition, or both.
With time as one of your most valuable assets, it’s crucial to implement strategies tailored to help you prioritize your time and balance these competing priorities.
Read more
How to Bring Back Face-to-Face Meetings with Clients
/ by Don Connelly / Managing the Relationship / 0 comments
A survey by YCharts in December 2019 found that clients didn’t feel engaged and wanted more personalized communications. We’ve posted several times that, pre- and post-pandemic, the frequency and style of advisors’ communication directly impact client trust and confidence in their advisor, financial plan, and their likelihood of keeping their advisor.
A more recent report, post-pandemic, found that, though virtual meetings had taken hold as a viable form of communication for advisors forced to limit in-person meetings, it’s likely that the decrease in face-to-face contact contributed to client feelings of reduced communication. That’s a direct threat to the strength of the advisor-client relationship.
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