The ClientWise Blog

How to Refresh Your Team in 2015

Posted by Alix Purcell on Jan 8, 2015 9:00:00 AM

kidsThe beginning of the year is an exciting time, especially after the close of a successful previous one. All too frequently however, we simply “reconfigure” our strategic plans from the previous year, rather than adjusting our plans moving forward to seriously take into account the growth and success our team has gained over the past 365 days. Sure, this feels like a giant task, and it seems easier to repeat what we’ve done and what we already know, at least in some respects, works. But think about the opportunity you’re missing out on.

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

Topics: Communication, Business Development, Team Development, Innovation, Planning, Learning, Goals, Change, ClientWise, Time Management

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: Coaching, Business and Operations Management, Team Development, Change

Financial Advisors! Make the Transition to Leader for 2015

Posted by Alix Purcell on Nov 26, 2014 11:00:00 AM

Earlier this week we posted a blog about the difference between true teams and work groups. While this may have seemed clear on paper, the execution requires some key transitions and some considerable thought on how you want to execute things moving forward.


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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, Goals, Change

Gen X Listen Up! 6 Strategies to Team Successfully with Gen Y Financial Advisors

Posted by Alix Purcell on Oct 30, 2014 11:00:00 AM

The Million Dollar Question: How do you get legacy wealth and business into the hands of younger financial advisors with ease? Of course, “with ease” is the key phrase here. While it seems like an obvious choice, the process of passing off business from an aging advisor planning to retire to a younger, less experienced advisor is never easy for either side. The path to partnership and team building between these two entities can be made smoother by careful attention to the following, but it needs to start well before succession begins and be present throughout the creation of the 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 and Operations Management, Team Development, Change, Succession Planning, Millennials

7 Simple Secrets to Transform the Financial Services Industry

Posted by Alix Purcell on Oct 6, 2014 1:00:00 PM

The financial services industry has made a lot of progress since the days of 2008 when a dark cloud hung over the reputation of a business that, at its true core, was really trying to help clients improve their relationships with money. While this feeling has shifted over the past 6 years, and financial professionals are seen in an increasingly positive light, there is still incredible opportunity to raise the awareness of the general population regarding how much financial advisors bring to the table.

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

Topics: Communication, History, Change, Recession

Part III: Changing Your Mindset Can Change Your Business

Posted by Alix Purcell on Oct 1, 2014 11:00:00 AM

The last two ClientWise blogs have gone into depth about how changing your mindset about what you do and who you are can change your business for the better. We’ve outlined a lot of specifics about WHAT to do, but you might be wondering HOW to accomplish it.

 

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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, Entrepreneurs, Team Development, Change

Part II: How Changing Your Mindset Changes Your Business

Posted by Alix Purcell on Sep 29, 2014 10:00:00 AM

Since we’ve partnered with Summit Media to launch our joint workshop “Building the Billion Dollar Business™,” ClientWise has been focusing specifically on helping financial advisors transition from thinking like producers running a practice, to thinking like CEOs running hugely successful businesses with the potential to bring in a billion dollars in revenue.

 

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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, Entrepreneurs, Team Development, Change

Financial Advisors: How Changing Your Mindset Changes Your Business

Posted by Alix Purcell on Sep 24, 2014 11:00:00 AM

Are you in the 38% of financial advisors who consider themselves business owners over advisors, or do you fall in the larger category of the 62% of financial advisors who consider themselves advisors first and business owners second?

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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, Entrepreneurs, Team Development, Change

“Go Long” on Oxygen Tanks: A Breakdown on Succession Planning by ClientWise

Posted by Alix Purcell on Jul 10, 2014 12:49:00 PM

All of our financial advisor clients take a planning approach with their clients, so it seemed logical to me that they would do the same for their own business.  But what I’ve learned is that most financial advisors plan on working to their last breath. What they fail to understand is the thinking that needs to occur before that last breath. I’m very concerned about the future of our profession in terms of the amount of thought that’s going into succession planning. As advisors, we owe it our clients to deliver on the promises we’ve made to them. We must not think about succession selfishly, but through the lens of putting our clients first. 

 

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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, Change, Succession Planning

To Plan for Succession or To Determine Enterprise Value?

Posted by Alix Purcell on Jul 8, 2014 10:21:09 AM

As advisors you are tasked with the job of measuring value: The value of assets, the value of a trade, the value you bring to  your relationships with your clients. But the ultimate value, that all of these things constantly build to, is the total value of your business. A financial advisory firm’s business is measured in several ways, and a recently prevailing one is what’s known as enterprise value. Enterprise value is the theoretical takeover price for your firm in the event that you are selling it to someone else. It varies significantly from standard market capitalization because it takes into account more measurements of your business, including its debt and, what might be considered by some, the less tangible measurements of your firm’s success.

 

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

Topics: Leadership, Planning, Change

Is Your Strategic Mindset Out of Shape?

Posted by Ray Sclafani on Apr 24, 2014 9:03:00 AM

If you’re like many successful advisors who come to our offices, you probably have an innate ability to run your firm. In all likelihood you spent a considerable amount of time learning, and then naturally began the process of running your business by producing and acquiring a variety of clients. Probably without really taking the time to consider the process you were using. Perhaps you’ve even built out what you feel is an effective team, by hiring people to fill certain roles over the past couple of years.

 

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

Topics: Coaching, Organizing Priorities, Business Development, Team Development, Planning, Learning, Goals, Change, ClientWise

I'm not the Shell Answer Man

Posted by Joe Del Bene on Apr 4, 2014 11:17:00 AM

Post written by Mitch York - A ClientWise Professional Certified Coach (ICF)

An age-old conundrum in coaching is that some clients believe the coach will give them The Answer.

Whatever the problem is, there are some clients who hope there's an answer out there, a silver bullet, and who better than their coach to spell it out for them, tell them the direction to march and exactly what to do.

Only one problem: that's not what we do as coaches!

 

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

Topics: Coaching, Learning, Change, ClientWise

Financial Planning: The Future of Your Wealth

Posted by Alix Purcell on Mar 27, 2014 3:09:00 PM

template-5col-19Guest blogger and economist Matthew T. Shafer helps ClientWise and the financial professionals and investors in our network understand the future of their wealth in an uncertain economic climate.

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

Topics: Learning, Change, Financial Planning

How Millennials Can Save the Financial Services Industry

Posted by Chris Holman on Mar 6, 2014 9:53:00 AM

Much has been written about the “graying” of the financial services industry:


The median age of the 300,000+ financial advisors in the USA is about 50.

21% of advisors are 60+ in years.

Just 5% of advisors are younger than 30.

Financial advisors who are 60+ years old control $2,300,000,000,000 in client assets.

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

Topics: Leadership, Innovation, Change, Millennials

Shoulda-Woulda-Coulda: Turn Your Regrets into Big Opportunities

Posted by Chris Holman on Feb 25, 2014 9:29:00 AM

"I wish that I were more successful…"

"If only I had gotten my CFA…"

"I should have gone independent…"

"I wish that I could spend more time with my family…"

"Where would I be today if I had been a better leader…?"

"If only I had been super-bullish two years ago…"

 

If you are a financial advisor who spends time thinking about “missed” opportunities, you are in good company. Many of us daydream about what might have been.

 

Here’s what is really interesting about these regrets:

 

  • The emotion of regret is virtually unavoidable.
  • Research shows that our brain produces our “what might have been” laments with a real purpose in mind.
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ClientWise is the premier financial advisor coach focused on business development and management best practices for financial advisors.

Topics: Goals, Change