The ClientWise Blog

4 Behaviors to Better Leverage Your Advocates and Team

Posted by Ray Sclafani on Jul 6, 2016 4:33:51 PM

Many successful financial advisors out there have found ways to cultivate centers of influence and build momentum with their wealth management team. Here at ClientWise, we are often connecting with wealth management advisors who are looking to create stronger relationships with their advocates in the effort to build a partnership that serves them both well. So, how can you better leverage your strengths as a leader to implement advocacy into your client acquisition strategy?

The following 4 tips are not only ways to better partner with potential advocates, but also smart ways to motivate your team members.

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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, Team Development

How Top Financial Advisors Can Better Serve Clients' Heirs

Posted by Ray Sclafani on Jun 7, 2016 4:00:00 PM

While the statistics vary slightly, time and again they all point to the fact that unless you change your process, the likelihood of holding onto your current clients’ assets once they transition to the next generation are slim. In fact, for most accounts significantly less than 20% of those assets will remain with your firm post-intergenerational transfer.

It’s the elephant in the room that few advisors seem to want to talk about, hoping that somehow their practice is inherently different as they whistle past the graveyard.

So what exactly can you do?

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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

How to Convert the Right Clients into Advocates

Posted by Ray Sclafani on Feb 8, 2016 12:31:08 PM

What exactly constitutes a “client advocate?” Advisors are often rather liberal in their definition, including those clients who, from time to time, provide an occasional referral to a friend or business associate who directly asks for it. Others include those clients who tend to provide a continual stream of referrals, even though those referrals are almost always the “wrong” types of clients – those who don’t fit your ideal client profile.

We define advocates as that select subset of your clients who...

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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, loyal client advocates, financial advisor introductions

What You Know Will Open More Doors Than Who You Know

Posted by Ray Sclafani on Sep 8, 2015 4:20:00 PM

Hopefully this doesn’t come as a tremendous shock, but your clients aren’t just sitting around thinking of friends and associates they could introduce you to. Generating a steady flow of client introductions, however, tends to be a significant challenge for most advisors – constantly concerned about crossing the line between proactive and pushy.

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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, Communication, Learning

Catching Keyser Soze - Building a Powerful Reputation Starts with Narrowing Your Focus

Posted by Ray Sclafani on Sep 3, 2015 5:06:00 PM

For those familiar with the film The Usual Suspects, the name Keyser Soze will no doubt be immediately recognizable – and wholly unforgettable. Yet, while the illusive Soze is the driving force of the film, he remains an invisible phantasm throughout. As the character Verbal Kint explains it, “nobody ever saw him or knew anybody that ever worked directly for him, but…anybody could have worked for Soze. You never knew. That was his power.

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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, Marketing Approach

How Successful Financial Advisors Find New Clients

Posted by Ray Sclafani on Aug 27, 2015 4:12:00 PM

Whether you call it “client acquisition”, “business development”, or “prospecting”, one thing is true. Successful financial advisors are becoming more creative and unique with regard to finding new clients these days.

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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, Business Development

How Are you Connecting with Your Clients?

Posted by Ray Sclafani on Jun 19, 2015 1:47:11 PM

At ClientWise, we frequently address the importance of practice management. Practice management involves several elements of your business that are covered in our Professional Advisory Model™ (PAM™). The PAM™ includes areas such as organizing priorities, marketing approach, client acquisition strategy, team development and creating a professional advocate network. At its core, all of these elements work together in support of one thing—your ability to connect with your clients.

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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, Communication, Client Engagement, networking,

Part I: Start Planning While You’re Still Growing

Posted by Ray Sclafani on Jun 11, 2015 12:23:42 PM

Succession planning is the buzzword of the year. People are discussing it in every office and reading about it in every publication, but so few of us are actually doing it. Statistics show that only one-third of financial advisors have even started thinking about succession planning for their businesses, while those who have are so close to retirement that their efforts might all be for naught.

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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, Succession Planning, Business planning,

6 Social Media Secrets for Financial Advisors

Posted by Ray Sclafani on Jun 9, 2015 1:53:48 PM

The social media space can be an overwhelming environment, especially in an industry in which it’s just becoming “acceptable” or commonly practiced. Even our marketing team and digital community managers at ClientWise are constantly commenting on how much they do to keep up with the latest and greatest in the world of social media.

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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, Social Media, Business Development, Client Engagement, networking,

Public Speaking for Financial Advisors

Posted by Ray Sclafani on Jun 3, 2015 2:27:00 PM

Financial advisors are generally viewed as a gregarious bunch. And while this is true for some, it serves as unnecessary pressure for those who don’t feel as comfortable in front of crowds. This is difficult in an industry in which public speaking and being able to think quickly on your feet has so much impact on your success.

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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, public speaking,

5 Client Acquisition Techniques for Everyday Life

Posted by Ray Sclafani on May 22, 2015 1:23:04 PM

Sometimes we have to break the rut of our networking to find any new successes. If you’ve run into the same people at the past three networking dinners or non-profit events with little to no success, it might be time to diversify your approach a bit. These basic techniques and perspectives will allow you to capitalize on your potential for client acquisition (and hopefully with less effort than previously necessary).

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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, Business Development, Client Engagement, networking,, Center of Influence

6 Simple, Impactful Ways to Be a Better Financial Advisor

Posted by Ray Sclafani on May 7, 2015 2:24:09 PM

“In a time of universal deceit, telling the truth becomes a revolutionary act.” - George Orwell 

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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, ClientWise

Financial Advisors: Stop Selling & Start Partnering

Posted by Ray Sclafani on Apr 23, 2015 2:13:00 PM

One of the most challenging aspects of coaching for those who are new to the profession or—as is frequently the case in financial services—those who are accustomed to consulting rather than true coaching, is adjusting the concept of partnership. The participants of our Certified Financial Services Coach Training Program hear about this concept over and over again throughout the course, because it is central to everything that happens in financial services coaching. It is also a huge part of what differentiates coaching from advising, consulting and mentoring, and, further, what differentiates a successful financial advisor from a salesperson.

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

Topics: Coaching, Client Acquisition, Client Engagement, partnership,

6 Crucial Considerations for Financial Advisors Networking with Attorneys

Posted by Ray Sclafani on Apr 10, 2015 9:43:39 AM

There are seemingly endless opportunities for financial advisors to receive referral introductions from attorneys, but this doesn't mean they are easy to come by. As a financial advisor, it’s important to differentiate yourself from the slew of other advisors who are after similar professional advocate relationships with the attorneys in their networks. Like yours, an attorney’s time is precious and it’s often difficult to get the return on relationship you desire without a little extra effort.

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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, Business Development, networking,, Center of Influence

The Digital Advocate: Your Online Centers of Influence

Posted by Ray Sclafani on Apr 1, 2015 10:30:00 AM

LinkedIn has become more and more popular amongst financial advisors over the last few years. Even the big wirehouse firms have advisors creating a LinkedIn presence through firm and compliance approved postings, which they can dell out at their own decided rate and choice of articles.

The increase in compliance related products would only suggest that this trend will continue in the coming months and years, encouraging advisors of all types—whether independent, RIA, or wirehouse advisors—to consider the following when determining their LinkedIn presence and how it might affect their business:

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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, Relationship Management