The ClientWise Blog

Build Better Client Relationships: 5-Step Client Engagement Process

Posted by Ray Sclafani on Feb 3, 2016 4:26:09 PM

With tax season right around the corner, this is a time of year when many advisors are focused on annual and quarterly client reviews. The challenge, however, often lies in finding effective ways to use those important conversations as a means to uncovering new business opportunities. The solution can be found in establishing a predictable and effective partnering process.

At ClientWise, we’ve developed a proprietary 5-step client engagement process that help advisors have more successful and collaborative conversations 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: Communication, Client Engagement

Take the Quiz: How Good Are Your Communications Skills?

Posted by ClientWise on Jan 28, 2016 12:00:00 PM

Communication skills are the most important skills that you need to be successful in any industry. For financial advisors specifically, being able to effectively communicate with clients or potential clients can make or break the relationships. When advisors take the time to focus on improving their communication skills, they witness better connections with clients and find it easier to differentiate themselves. 

So, advisor or not, we'd like to challenge you with this:

Just how good are your communication skills?

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

Topics: Communication, Team Development, Client Engagement

What Skills Does Every Leader Need to Master?

Posted by Ray Sclafani on Jan 6, 2016 3:13:31 PM

Love 'em or hate 'em, there’s no arguing that in an industry structured to create franchise parity through salary caps and free agency, the New England Patriots have consistently managed to achieve performance excellence for the better part of two decades – with no apparent end in sight. How? 

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

Topics: Leadership, Communication

5 Tips for Building an Effective Team and Future Company

Posted by Ray Sclafani on Sep 29, 2015 3:10:21 PM

There’s a fundamental and often monumental difference between a “team” and a “work group.” Yet what most advisors refer to as a team, is more often than not, the latter – a group of people who work together to process a great deal of complex work, but with a task-oriented approach rather than a strategic mindset.

How do you know which one you have? Next time you hold a meeting to set team goals, step back and take a look at the level of active participation. If only one or two people are driving the conversation and the rest are silent with blank stares, it’s a pretty clear warning sign that you have a working group rather than 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: Leadership, Communication, Team Development

Financial Advisory Teams: Rules and Structures for Partnering Together

Posted by Ray Sclafani on Sep 24, 2015 3:16:00 PM

 

What are your financial advisory team’s rules and structures for successfully partnering together?

When you’re just starting out and your financial advisory team consists of one, two or three people, rules and structures for partnering together are rather unnecessary. As your organization grows, however, the challenge of managing complexity and achieving efficiency grows exponentially with each additional team member.

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

Topics: Communication, Team Development, partnership,

10 Guidelines for More Productive Employee Development Conversations

Posted by Ray Sclafani on Sep 15, 2015 11:00:00 AM

If you’re like most advisors, you probably meet with individual team members on an annual or quarterly basis to provide performance feedback. These evaluations are typically very hierarchical and directive – formal management reviews rather than informal employee development conversations. Yet it’s the latter, not the former, that is far more critical to the ongoing success and continued improvement of your team.

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

Topics: Leadership, Communication, Team Development

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

7 Simple Ways to be An Exceptional Financial Advisor

Posted by Ray Sclafani on Aug 18, 2015 3:54:00 PM

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

- George Orwell

Financial Advisors get a bad rap, and much of it is unjust. While we aren’t in the era of 2008, we’re still recovering from it, and for many it’s been a difficult hill to climb. The great news is that for those of us who get it, it’s actually a blessing in disguise.

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

Topics: Communication, Relationship Management, education

Unlock More Referrals by Changing Your Perspective

Posted by Ray Sclafani on Aug 6, 2015 5:17:00 PM

 

Far too many advisors and wholesalers view strategic networking solely as an opportunity to build a funnel of professional referrals – rarely venturing beyond the occasional golf outing with one or two close attorney or accountant friends and pressing for introductions. They overlook the critical importance of strategic relationships in expanding and strengthening their wealth management offering. These vital professional partnerships, whether formal or informal, can bring a host of expanded capabilities to broaden and solidify your existing relationships – from trust and estate planning to business succession and tax planning.

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

Topics: Communication, networking,, partnership,

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,

The Power of Listening

Posted by Ray Sclafani on May 20, 2015 3:00:26 PM

I recently heard an inspiring story about a former international tax lawyer. David (name changed for privacy) is currently working to build his own independent practice, after spending decades working with a large international accounting firm. I had the pleasure of learning about how he’s found success, which has everything to do with the power of listening. 

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

Topics: Coaching, Communication, Business Development, Client Engagement

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

Financial Advisors! 6 Keys to Change Your Client Conversations

Posted by Alix Purcell on Dec 19, 2014 1:46:00 PM

As you wrap up the New Year it’s important to set aside some time to sit down with clients, whether to tie up loose ends from 2014 or begin preparations for 2015. As you think about how to make these conversations more meaningful, try reflecting back on the conversations you’ve had that resulted in impactful changes for you. How were they different? What was it that made them stand out in your mind?


The great thing about coaching financial advisors is that the same tactics we use in coaching can be learned and mirrored by our financial advisor clients to deepen the relationships they have with their investor clients.  Powerful questioning, for example, is a tactic we use at ClientWise to partner with our advisors in helping them to achieve their business goals. However, it can also be a key component understanding your clients’ financial needs, oftentimes to a greater extent than even they themselves understand.

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

Topics: Communication, Client Engagement

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

Keys to Success for the Highest Performing Financial Advisory Teams

Posted by Alix Purcell on Nov 24, 2014 10:42:00 AM

 

What makes high performing financial advisory teams so successful?

 

 At ClientWise we are extremely careful to differentiate between true financial advisory teams and work groups. Our observation is that there are several teams out there who, though successful, are not as successful as they could be because they aren’t working as true interdependent teams.



At ClientWise we define a team as: “A true team is a group of people who are fully committed to mutually defined and extraordinary success of the group as a unit, and hold themselves mutually accountable for the achievement of that success as well as the methods by which that success is achieved.”

We’ve broken down the elements of this definition below to give you a clearer idea of how the most successful teams operate:
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ClientWise is the premier financial advisor coach focused on business development and management best practices for financial advisors.

Topics: Communication, Team Development, Goals