The ClientWise Blog

Your Next-Gen Centers of Influence

Posted by Ray Sclafani on Mar 30, 2015 1:00:00 PM

It’s no secret that there is a lack of young financial advisors in the industry. Only 5% of the 315,000 advisors working in the U.S. are under the age of 30. This is due in part to a hiring freeze in 2008, a direct result of the economic crisis, as well as a number of other more recent contributing factors.

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ClientWise is the premier financial advisor coach focused on business development and management best practices for financial advisors.

Topics: Business Development, Client Engagement, advisors

Ask Yourself These 12 Questions To Uncover Your Best COIs

Posted by Ray Sclafani on Mar 27, 2015 9:30:00 AM

Your client advocate and professional advocate relationships, or centers of influence, are incredibly important for the success of your business. As a seasoned advisor once told me: “Your referrals are as valuable to your business as your clients, if not more so.” I would add to that, that your client advocate and professional advocate relationships are only as valuable as you allow them to be, through the knowledge and understanding you provide them of your business.

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ClientWise is the premier financial advisor coach focused on business development and management best practices for financial advisors.

Topics: Business Development, Client Engagement

Communicating with Your Loyal Client Advocates

Posted by Ray Sclafani on Mar 21, 2015 11:02:00 AM

We have been discussing the importance of financial advisors connecting with Professional Advocates and Loyal Client Advocates collectively over the past few weeks. It’s important to recognize the subtle differences that exist in each process, however, and to take the appropriate measures to ensure you are working with these differences in mind when looking to your centers of influence for referrals.

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ClientWise is the premier financial advisor coach focused on business development and management best practices for financial advisors.

Topics: Client Acquisition, Client Engagement

Not All Referrals for Advisors are Created Equal. Can You Recognize The Difference?

Posted by Ray Sclafani on Mar 19, 2015 10:30:00 AM

As we move around the Professional Advisory Model (PAM) ™, our focus for March and April will highlight our client and professional engagement models, which we introduced last week in our blog “Stay Connected with to COIs Even During Tax Season.” 

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ClientWise is the premier financial advisor coach focused on business development and management best practices for financial advisors.

Topics: Marketing Approach, Relationship Management

The ClientWise Conversation: The Best Way to Connect

Posted by Ray Sclafani on Mar 16, 2015 3:03:00 PM

Even for the most experienced financial advisor, it’s never “comfortable” to approach a well-respected client or colleague to ask about introductions to potential clients. As business owners, we feel incredibly grateful and indebted to those who serve us in our business, and want nothing more than to show our appreciation and help, rather than have to ask them for help.

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ClientWise is the premier financial advisor coach focused on business development and management best practices for financial advisors.

Topics: Client Engagement

Stay Connected to COIs Even During Tax Season

Posted by Ray Sclafani on Mar 9, 2015 11:30:00 AM

When was the last time you sat down with a CPA in your referral network? Probably not in the last few weeks. As an advisor, you are likely to be busier than usual this time of year, but it’s nothing compared to the CPAs in your network who, at the mercy of their clients’ timelines, are slaving over financial documents and tax statements, hammering to meet deadlines imposed by the IRS.

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ClientWise is the premier financial advisor coach focused on business development and management best practices for financial advisors.

How You May Be Unknowingly Contributing to Team Unhappiness and How to Fix it

Posted by Ray Sclafani on Mar 5, 2015 11:13:26 AM

What is the biggest threat to your team members’ happiness and engagement?  You might presume it’s their feelings regarding their compensation, or perhaps perceived lack of room for growth. In actuality, the biggest threat to their happiness is when they are hired for a job and not given the freedom to do it. Worse yet, is when a leader openly appears to have faith in his team members abilities, only to question it at a later point or micromanage it behind the scenes.

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ClientWise is the premier financial advisor coach focused on business development and management best practices for financial advisors.

Topics: Business and Operations Management, Team Development

Who’s in Your Room?: The Importance of Who's On Your Team

Posted by Ray Sclafani on Mar 3, 2015 9:15:58 AM

I recently read a book by Stewart Emery, Ivan Misner & Rick Sapio, called Who’s in Your Room? It essentially asks the question: What do the people you keep around say about who you are?  It challenges you to take a look at the people you’ve let into your life, determine how each of them affect you, and add to or take away from your goals and your ideal vision for your life or business.

It occurred to me while reading it, that a similar phenomenon exists when you’re building a team. The people you choose to bring on board have a great impact on what you do collectively as a team. Each person’s attributes, characteristics, choices, and beliefs affect the environment of your team. So how do you know who to let into your room? It starts by determining your core values through an exercise that takes you through the experiences you’ve had in your life where you felt most proud or accomplished, and from there determine what values guided you in these situations.

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ClientWise is the premier financial advisor coach focused on business development and management best practices for financial advisors.

Topics: Leadership, Team Development

Building an Advisory Team: What is Common Intent And Why is it Important?

Posted by Ray Sclafani on Feb 24, 2015 1:00:00 PM

A commonality amongst all teams is the need for a leader who exhibits CEO-like behaviors.  What ClientWise has discovered in our team-focused coaching approach is that, oftentimes, even those financial advisors with the best production aren’t necessarily in possession of the traits held by the most successful leaders. These traits need to be crafted and honed over time.” Amongst common behaviors is:

 “I engage with and inspire others toward creating a compelling common intent.”

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ClientWise is the premier financial advisor coach focused on business development and management best practices for financial advisors.

Topics: Leadership, Team Development

Part II: The Time is Right (Enough) to Team

Posted by Ray Sclafani on Feb 18, 2015 12:12:00 PM

As I mentioned in Part I of this blog, there are several reasons to start a team. Perhaps you’ve reached a point where your production has plateaued and you need to make a change to see significant increase; maybe two or more specializations are coming together to form a more comprehensive group; perhaps an up-and-coming advisor is ready to take on greater responsibility and learning; or else an older advisor starting to think about retirement and wants to begin laying the groundwork for his succession planning.

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ClientWise is the premier financial advisor coach focused on business development and management best practices for financial advisors.

Topics: Team Development