The ClientWise Blog

Executing with Strategy

Posted by Ray Sclafani on Jun 26, 2015 2:43:23 PM

We’ve all heard that genius is one percent inspiration and ninety-nine percent perspiration. Clearly, Thomas Edison knew that achieving genius goes well beyond just having an idea. Having the idea can feel like a breakthrough to the solution on it’s own, but it’s the actual execution that really makes the difference.

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

Topics: Coaching, Business and Operations Management, Goals, Time Management

Financial Advisors: Questions to Enhance Your Succession Planning

Posted by Ray Sclafani on Jun 24, 2015 2:55:00 PM

Screen_Shot_2015-06-24_at_2.50.51_PM-2It takes very disciplined thinking to fully consider your succession planning strategy. Often, succession planning is confused with continuity planning. While continuity planning is an important piece of the puzzle if you plan to transition the leadership of your business, it does not consider the future of your business with the same thoroughness as 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: Business and Operations Management, Succession Planning, Outcomes-Based Planning

Part II: Start Planning While You're Still Growing

Posted by Ray Sclafani on Jun 17, 2015 12:11:00 PM

Last week, we posted Part I of this blog, which talked about the best way to tackle succession planning by starting to plan while you’re still growing your business. To make this incredibly overwhelming thought a little more manageable, we broke it down by our ClientWise Professional Advisory Model™. Then, we broke it down further into three different periods of time. Using this multi-layered thinking will help you be more efficient in evaluating your business and preparing you for succession.

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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, Organizing Priorities, Marketing Approach, professional advocate, loyal client advocates

Part II: 5 MORE Business Plan Elements Every Financial Advisor Must Consider

Posted by Ray Sclafani on May 5, 2015 2:27:51 PM

Last week we provided you with 5 items to cover, or at least consider, in your business plan for your financial advisory practice. These elements provide more of a template for you to reconsider through the lens of your ideal vision for you business, the future of that business, and the people or team with whom you work. Much like The ClientWise Professional Advisory Model (PAM)™, it creates a roadmap for your practice. But the task of fleshing out the details that make it uniquely yours are the most crucial piece of this process.

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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, Business Development, Business planning,

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

Grow Your Wealth Management Team with Competency Based Interviewing

Posted by Ray Sclafani on Jan 31, 2015 9:00:00 AM

One of the greatest challenges leaders experience is finding talented team members who truly complement their teams and work hard to achieve their goals. We encourage our financial advisor clients who are building teams to use competency-based interview questions, which require your potential team members to provide examples of specific circumstances in which they’ve demonstrated particular skills or aptitudes. These questions generally ask the person being interviewed to describe a problem or situation, explain the actions they took to handle the problem, and relate the results of their solution.  

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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

Great Questions for Successful Relationships

Posted by Ray Sclafani on Jan 23, 2015 1:00:00 PM


The most successful financial advisory teams are identified by well-defined goals, efficient processes, and strong vision and follow-through, but also by their team members’ ability to work together and have faith in each other to work with their clients.

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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

The Porcupine in the Room

Posted by Alix Purcell on Jan 12, 2015 10:00:00 AM


Have you ever experienced a “coaching momentwhere an emotionally charged issue came up for the person you were coaching?

In a recent Certified Financial Services Coach Training Program course, Lyn Allen, one of our Master Certified Coaches at ClientWise, provided an example of one such coaching moment. In this example, the financial advisor being coached compared her interactions with her assistant to dealing with a “porcupine”. The assistant was incredibly difficult to be around and made the coachee feel as though she couldn’t approach her for help with even the smallest task. It was clear that the coachee had some negatively charged emotions surrounding her assistant that would continue to come up for her at work and during her coaching sessions. 

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

Topics: Coaching, Business and Operations Management, Business Development

The Word of the Year: Culture

Posted by Alix Purcell on Dec 22, 2014 1:50:00 PM


“A nation, a workplace, an ethnicity, a passion, an outsized personality. The people who comprise these things, who fawn or rail against them, are behind Merriam-Webster's 2014 word of the year: culture.” The introduction to AP Mobile’s announcement that Merriam Webster has named ‘culture’ the word of the year got us thinking more about the role that culture plays in the financial advisory space. 

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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, Business Development, Team Development

5 Measurements to Consider in Your 2015 Strategic Business Plan

Posted by Alix Purcell on Dec 17, 2014 11:01:40 AM

 

Most financial advisors are incredibly focused on measuring their assets under management and anything else that impacts their production, but there are several other important measurement opportunities you may be missing that could directly impact your assets under management.


In 2015 think about your strategic planning a little differently by coming up with processes and tools that take into account the following in your work-flow:

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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, Planning

7 Smart Tips for Leading & Working with Millennial Financial Advisors

Posted by Alix Purcell on Dec 10, 2014 1:50:00 PM


As the leader of a successful financial advisory team your greatest asset is your human capital. And if you’re looking to increase the sustainability of your business it might be wise to look into hiring a younger generation of advisors to help grow and prepare your team for the future. Millennial financial advisors hold incredible knowledge and first-hand experience regarding the new generation of investors and approaches to their financial planning. Their relationship management skills are beneficial in connecting with the heirs of your clients’ wealth. 


Millennials are also an asset because they bring a very different kind of thinking to the table; born from involved parents, incredible access to information, and the perspective that anything’s possible. While a more seasoned advisor may find it difficult to bridge the gap between his or her mindset and that of the younger generation, it’s worth it to invest in their growth to ultimately help the sustainability and succession planning of your practice. The tips below will guide your thinking as you begin to grow your financial advisory team and welcome these nextgen financial advisors:

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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, Millennials

A Holiday Package from ClientWise to Prepare Your Team for 2015

Posted by Alix Purcell on Dec 5, 2014 11:09:25 AM


They say that the best leaders know how to delegate. At ClientWise we’d argue that the best leaders know how to collaborate. However, part of the challenge of transitioning to a leader is learning to let go of certain responsibilities to share them with team members. The same is true of partnering and collaborating with outside entities who can help you develop that team and gain an outside perspective for greater understanding of exactly how your team collaborates.

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

Topics: Coaching, Business and Operations Management, Business Development, ClientWise, Holiday

The Honest Conversation that Financial Advisory Teams Need to Have

Posted by Alix Purcell on Dec 1, 2014 12:10:00 PM


Working as a true financial advisory team requires a certain amount of vulnerability and a ton of honesty on your part as the leader. It means letting go of some of the control you’ve had, and in some cases admitting that you’ve been doing this whole teaming thing wrong. Here’s why: Great producers are accustomed to doing everything on their own. Their success is marked by what they alone have accomplished. They’re in competition with everyone else as individuals. However, as indicated by some of the best leaders in the financial services industry, and our Barron’s ranked advisors, true leadership is attained through collaboration and co-creation with your team members. It’s about stepping outside of your role as producer and stepping into your role as CEO and leader of a team.

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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, Leadership, Communication, Team Development

7 Mistakes Financial Advisory Teams Will Make in 2015

Posted by Alix Purcell on Nov 11, 2014 10:00:00 AM


Bringing together a financial advisory team is a huge endeavor and very often a differentiator between solo advisors with moderate success and those who decide to team to experience incredible, sustainable, and truly fulfilling success.

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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, Leadership, Team Development, Goals, Trust

Financial Advisors: Work More Efficiently with These 5 Productivity Tips

Posted by Joe Del Bene on Nov 5, 2014 10:00:00 AM


Who doesn’t love improving their personal productivity? I know I do!  At ClientWise, we partner with financial advisors to help them ultimately become “the master of oneself “ or “self masters” so they may have a greater impact on others, especially their clients. Below are some great tricks to organize your time and get you through the “stuff” thrown your way on a daily basis.  

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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, Organizing Priorities