Keep Your Clients Focused on What’s Knowable and Important

Keep Your Clients Focused on What’s Knowable and Important

The media has always run rampant with scary headlines. That’s how they increase readership or website traffic. However, in this period of increased market volatility, economic uncertainty, geopolitical upheaval, mixed COVID signals, and deepening political divisions, the headlines can be incredibly overwhelming or, at the very least, extremely distracting.

Trying to consume all the news coming at us 24/7 is like trying to drink from a firehose. It’s critical to understand that the barrage of bad news and hype around market events can trigger emotional reactions that often lead to making costly decisions around their finances.

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Self-Discipline Is Key

Self-Discipline Is Key - AskDON Episode

An Advisor once sent me this message:

“You mentioned in one of your webinars that talent by itself means nothing. The key is to develop that talent into a skill. In your opinion, what is the most underappreciated skill among great advisors?”

Listen to this audio episode or read the transcript below to learn what I think great Advisors’ most underrated asset or skill is.

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Conquering Your Clients’ Financial Fears

Conquering Your Clients' Financial Fears

One of the most powerful emotions we all experience is fear. When it comes to our finances, fear can drive us to make decisions we later regret. More often, fear leads to decision paralysis when we retreat to the comfort of indecision or simply bury our heads in the sand.

To many people, their financial future is a threat to their well-being – the fear of not being able to retire, the possibility of losing one’s job, or being forced into early retirement. These are all financial threats that breed the worst kind of fear. Many people cope with them by doing everything they can to avoid them. That can be a lot easier than facing their fears, especially if they lack confidence in solving the problem.

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How Advisors Can Inoculate Themselves from Fee Compression

How Advisors Can Inoculate Themselves from Fee Compression

In our last post, we highlighted four critical issues financial advisors face in the aftermath of the COVID pandemic, impacting the way they approach their businesses and the way clients are responding. In the next month or so, we will take a deeper dive into these issues, the challenges they present, and how advisors can meet them head-on for a greater chance at success.

At the top of the list—an issue familiar to all and well-covered here in past blog posts—is fee compression.

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Automated Marketing for Financial Advisors – 5 Ways to Improve Your Practice

Automated Marketing for Financial Advisors - 5 Ways to Improve Your Practice

For many business owners marketing is tough and likely not the reason they started their business in the first place! As a Financial Advisor, your work is primarily focused on money management and building client relationships, not marketing. Having said that, a proactive and well-planned marketing initiative can go a long way in improving and growing your practice, so you can do more of what you love.

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5 Risks You Run If You Grow Your Practice Too Fast

5 Risks You Run If You Grow Your Practice Too Fast

It’s natural to strive to grow your business, but too rapid a growth can bring with it a host of problems. By taking on too many clients and ‘running before you can walk’ you might damage your practice in the long run.

“The fuel of persistence is patience, the ability to tolerate delays while persisting.”

Elite advisors all share an important trait – that of patience. It doesn’t matter how good you are at your job. If you don’t see that success requires time and effort, you will remain at a mediocre level.

Here are five consequences of attempting to grow your practice too fast.

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4 Tasks You Can Delegate to Grow Your Business

4 Tasks You Can Delegate to Grow Your Business

To grow your business, you need to focus on what’s important and this generally means prospecting and meeting with clients. There will be a host of routine tasks that don’t require your continual, personal, input. Hopefully, you work with an assistant.

Identify your non-revenue generating activities – as well as activities that lie outside your core competencies – and delegate them. In this post we’ll look at 4 tasks you can and should be outsourcing – leaving you free to take on key areas of your business.

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4 More Things That Could Get You Stuck in a Rut

4 More Things That Could Get You Stuck in a Rut

In a previous post we outlined four things that could get you stuck in a rut. Here are four more – along with some recommendations on how to get your business moving forward again.

1. Thinking you don’t need help

If you think you don’t need help in building your business, think again. Over time you will eventually work out how to do things on your own – but why waste time? With help you’ll get there far quicker.

As the ancient Chinese proverb says – if you want to know the road ahead, ask those coming back.

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Five Ways Tracking Can Improve Your Practice

Five Ways Tracking Can Improve Your Practice

If you don’t set clear targets or measure your performance, you won’t know if your business is going in the right direction. So, set aside time to identify the areas that are key to your overall success – then take steps to track how you’re doing. Your tracked data will help you understand how to improve or change things for the better so you can progress towards your ultimate goals.

Here are five ways how tracking can help you improve your practice.

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