February 19, 2024 / by Don Connelly / Best Practices / 0 comments
As a financial advisor, your most valuable resource is your time. If you are not in control of how you spend your time, then you are not in control of your results. Controlling your time and injecting your schedule with the right mix of high-payoff activities is vital to achieving your goals.
However, time is a diminishing resource, which is why it’s so valuable yet so challenging to manage. Advisors must find a way to maximize their critical high-payoff activities, such as client interactions, prospect meetings, and prospecting, while allocating sufficient time for other essential activities that need to get done, such as administrative tasks, marketing, and planning. Advisors must also be able to allocate adequate time for professional and personal development and ensure there’s enough left over for a healthy work-life balance.
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How Financial Advisors Can Take Control Over Their Time
February 19, 2024 / by Don Connelly / Best Practices / 0 comments
As a financial advisor, your most valuable resource is your time. If you are not in control of how you spend your time, then you are not in control of your results. Controlling your time and injecting your schedule with the right mix of high-payoff activities is vital to achieving your goals.
However, time is a diminishing resource, which is why it’s so valuable yet so challenging to manage. Advisors must find a way to maximize their critical high-payoff activities, such as client interactions, prospect meetings, and prospecting, while allocating sufficient time for other essential activities that need to get done, such as administrative tasks, marketing, and planning. Advisors must also be able to allocate adequate time for professional and personal development and ensure there’s enough left over for a healthy work-life balance.
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The Significance of Ethical Practices in Maintaining Trust and Integrity
August 21, 2023 / by Don Connelly / Managing the Relationship / 0 comments
Most financial advisors consciously try to do the right thing always. However, most people are sometimes prone to error, which is only human. The reality is that advisors, through no fault of their own, sometimes find themselves in situations where conflicts between ethical principles, client interests, and regulatory requirements can create ethical dilemmas.
The challenge for advisors is that they have to overcome a huge trust deficit with clients and prospects. To earn and keep their trust, they must constantly be hyper-aware of their actions and how they may be perceived, whether an ethical breach is intentional or not. That requires having a conscious and deliberate strategy to resolve any potential conflict.
Here are the most common ethical dilemmas faced by financial advisors.
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6 Reasons Why You Should Specialize in The Kind of Financial Advice You Give
September 2, 2019 / by Don Connelly / Best Practices / 0 comments
In previous posts we’ve discussed the importance of identifying your ideal client in terms of their attributes – be it occupation, geographical location, etc. But if you are to stand out in a crowded market you also need to pinpoint exactly what you can offer your clients in terms of services.
As part of your marketing strategy aim to narrow down to the field or specialty you’re best suited to offer. Don’t try to be ‘jack of all trades’ by offering to provide advice on estate planning and taxation, and everything in-between. If you do, you’ll end up ‘master of none’.
People need to know you are the expert in your field, otherwise you won’t become highly referable. Here’s why you should specialize in the kind of financial advice you give.
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