The old adage that “It’s not what you say, but how you say it” holds true when speaking to clients about returns.
Clients want good advice. Here are three ways to make sure you deliver it.
Specializing can be a winning strategy.
We’ve all heard about advisors who take extended vacations while still managing to have a successful practice. How? They’re great delegators.
Do you know the number of products you manage? Many advisors don’t. Current research finds the average planner's book has more than 400 individual positions, when they should closer to 30.
I recently found out one of the largest advisory teams in the country isn’t offering mutual fund corporation structures, or corporate-class funds, to clients. Even though these structures are more tax-efficient, these advisors simply sell investments without considering tax planning.
When I entered this business in the early 90s, it was seemingly easy to find clients. Now, competition has increased, and the industry's growth rate has receded from more than 20% per year to single digits. So to attract clients, ask one simple question.
I was in a meeting with an advisor recently when the latest economic indictors flashed across the TV screen. “Watch this,” chuckled the advisor as he turned off the TV and comically waved his pen over his telephone like a magician waving his wand. Sure enough, the phone rang in a few seconds. The advisor […]
With its frigid arenas and early-morning wake-ups, hockey season can be long and grueling. With the season over, I thought about my son's first year, and found some parallels to running a business.
We’ve all heard the benefits of simplifying out client base, but streamlining your product shelf will make it easier to keep on top of the products you offer.