The financial services industry is one of the best places to work. We have the freedom to earn as much or as little as we want to. The freedom to work as many or as few hours as we wish. It also gives us the freedom to deal with the types of clients we want […]
The first three months: The good, the bad, the ugly and the paperwork In the previous article I shared the rationale of our decision to move from the MFDA to IIROC. Part Two will go through the nuts and bolts of the move and how things are now that the dust has settled. It’s official, […]
Let’s face it. If everything was equal and you had the choice to provide only funds or all available products including funds, which option would you choose? I have been a satisfied member of the MFDA for the last 13 years and could have happily continued on my way and made an excellent living. Something […]
We celebrated our 10th anniversary this year, and wouldn’t you know, that “10” motif just kept popping up. Robert Abboud offered up 10 tips on establishing client trust. • • • 10. Eat what you cook Any advice I give to clients is the same advice I follow myself. We have to walk the talk […]
When I left my position at one of the banks to set up my own practice many years ago, I ran some numbers to determine the true cost of keeping and servicing a client. I had always envisioned a practice as described by the master, Nick Murray: working with just 100-200 households that want financial […]
Managing client cash flow is an overlooked yet crucial part of financial planning that can help you drastically increase your practice’s revenues. A recent National Payroll Week Employee Survey suggests that over 59% of Canadian employees would have trouble making ends meet if their paycheque was delayed by even one week. Talk about improper planning, […]
One of the questions advisors will be asking themselves more and more as they move towards complete transparency of fees is…How do I justify my fees to clients? The answer is simple. Below are six easy tips you can use when this sometimes uncomfortable but necessary conversation arises. Show them the money – Full, upfront […]
Client reviews can be used as a powerful tool to increase business for your practice if you’re willing to look at more than just a client’s investments. I’ve talked to many advisors over the years, and client reviews are one of the areas they wish they could improve. Many advisors still think a review means […]
We all saw our income drop with the markets and have probably been stunned by how quickly everything turned around. At my branch, our income is directly tied to the value of the assets we manage. With the goal of increasing revenue, here are some of the ways we improved our bottom line. 1. We […]