The financial advisor's success manual : how to structure and grow your financial services practice / by David Leo and Craig Cmiel
By: Leo, David.
Contributor(s): Cmiel, Craig.Publisher: New York : Amacom, 2018Description: xi, 294 p. ; electronic resource.ISBN: 9780814439135.Subject(s): Financial advisory services | Public practice | Client relationships | Profits | Business planning | Organisational effectivenessOnline resources: Download as an eBook
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DEVELOP YOUR DIFFERENTIATION STRATEGY: What is your value? -- What is your differentiation? -- Sample unique value proposition. FORMAL BOOK SEGMENTATION: Why analyze your book of business? -- The value of determining your 80/20 -- How segmentation is done. THE CLIENT LOYALTY PROCESS: Asset growth starts with client retention -- The value of high-quality client service -- Getting your client to "completely satisfied" -- Your intake process -- Your financial planning process -- Your risk management process -- Your investment planning process -- Your client loyalty or client service process -- Value of continuing improvement in client loyalty -- The Kano model -- The future of delight.BUT WHAT'S THE COST OF LOYALTY?: Managing your high-quality proactive client service system... It's about time and money -- Primary fa business activities -- Client contact plan -- Contact workload in volume -- Contact workload in time -- Additional client service time commitments -- Next steps -- Additional guidance.YOUR INTAKE PROCESS: Meeting one - discovery -- Meeting two - detailed discussion of financial and related status -- Meeting three - detailed discussion of the prospect's game plan. YOUR CLIENT PLANNING AND REVIEW PROCESS: The client planning and review meeting process -- Additional topics - general monthly check-in call discussion topics. YOUR BUSINESS PLAN: Purpose of your business plan -- The business plan -- Developing your value proposition -- Business foundations -- Goal planning -- Focus areas - marketing and sales strategies and tactics -- Focus areas - service strategies and tactics -- Focus area - operations -- Model week/time blocking.METRICS - DAILY GAME PLAN: The qualitative approach -- The quantitative approach -- Daily time log -- The six most important things. BUSINESS DEVELOPMENT: Introduction to business development -- Client introductions for business development -- Client acquisition through introductions -- Using the principle of "aided recall" at review meetings -- Introductions from clients using the LinkedIn approach to client acquisition -- Summary - keys to "client engagement" -- COI marketing strategy for client acquisition -- Book of life for client acquisition -- Niche marketing for client acquisition -- Additional marketing and sales approaches for business development. THE BENEFITS OF IMPLEMENTATION.
Offers tools and techniques to refine your skills as a financial advisor. Looks at how to boost client satisfaction, expand your business, balance the cost of services with the value delivered, and develop a differentiation strategy.