The ClientWise Blog

Curated Content for Financial Leaders (Week of June 1)

Posted by Ray Sclafani on May 29, 2020 2:09:20 PM

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

Topics: Crisis

Gauging your clients’ confidence

Posted by Ray Sclafani on May 22, 2020 2:37:18 PM

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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 Anatomy of a Client Review

Posted by Ray Sclafani on May 18, 2020 10:00:00 AM

By now, you’ve reached out to check-in with all of your clients – apprising them as to your operating plan during the pandemic, as well as addressing any initial fears and concerns they might have about the state of their financial plan, short-term liquidity needs or other financial matters. But the longer COVID-19 continues, and the longer people are sheltering in place, the key question that often arises is “how do I go back to my clients and structure follow-up conversations with them that provide genuine value?”

In this current environment, the importance of getting your team to coalesce around a common structure of how to thoughtfully “meet” with clients simply can’t be overstated. People are nervous, unsure of the future and desperately looking for both reassurance and a sense of hope. At ClientWise, we advocate employing the following structure (in the specific order presented) in order to get the most out of your conversations with clients during this unprecedented time.

  1. Are you okay? – start each call by checking-in on their life and how they’re coping. Make sure you show your clients that you personally KNOW them. Rather than “how are the kids and how is your wife,” be more specific…”how did Caroline and Michael handle completing the school year online? Is Karen able to work from home? Are you two able to find ways to relax and de-stress?” This not only helps better demonstrate that you value the relationship, but it enables you to connect with your clients at a deeper, more personal and emotional level.
  2. I’m okay! – it’s important to communicate how you are to alleviate any unspoken questions or concerns the client may have. “I’m exercising, eating well, getting good sleep and feeling sharp and attentive.” We all know that this pandemic will eventually pass, but the longer it goes on, the bigger an issue mental health will become. Extended isolation can lead to depression and even PTSD. So, take a little time to reassure your clients that you’re active, engaged and positive.
  3. Our team is okay! – your business is more than just you. Clients need to have a strong level of confidence that the team that serves them is also functioning on all cylinders. “Here’s how we’re operating and functioning remotely…this is how we’re staying connected with morning huddles, etc.” Communicate specific details to show that the team is networked and operating well. And touch on specifics to show them how cybersecurity and information security are still being carefully maintained. Download our ClientWise Connect and Support Check-In™ tool to help you foster closer connections with your team and determine how you can all better communicate.
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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 social, my friends!

Posted by ClientWise on May 15, 2020 4:01:35 PM

By now, we’re all more than a little burned out on Zoom meetings, virtual client reviews, and the seemingly endless litany of daily and weekly online check-ins and team meetings. These virtual get-togethers, which only a few months ago were an interesting novelty, have now become so ubiquitous that it can be incredibly challenging to remain engaged and energetic as you sit in front of your phone or laptop staring at “people in boxes” like the opening theme of The Brady Bunch.

We humans are highly social animals. We crave personal connection; something that given the current state of the world is difficult at best. Yet given the current market volatility and uncertainty, it’s easy to get so focused on managing your clients’ financial health that you forget to pay enough attention to their emotional health – as well as the social health of your team.

If you aren’t already, consider taking a little time to turn one of your weekly online team meetings (perhaps Thursday or Friday afternoons) into a virtual happy hour where everyone can turn off their business minds for a while and simply re-connect with each other on a more personal level. You might also want to seriously consider doing the same with clients once or twice a month – bringing them together online with your team to simply chat about how everyone’s bearing-up while sheltered in place.

Here at ClientWise, we’ve even created a way for you to spice up your next happy hour with our Online Happy Hour Menu. Whether your preference is a crisp Quarantini or an Isolation Old Fashioned, rest assured that we’ve got your next COVID-19 soiree covered.

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

Topics: Team Engagement

Stay Connected Recommendations - For You and Your Team

Posted by ClientWise on May 14, 2020 9:17:15 AM

Looking for ways to keep your team and your clients focused and engaged? Share with them some of the books, TV shows, movies, podcasts, etc. that have helped lift your mood or provided a welcome distraction. See attached for our recommendations.

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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

Keeping Your Team Productive in a Virtual World

Posted by Ray Sclafani on May 11, 2020 4:38:26 PM

Dare I say that just a few months ago, none of us could possibly have fathomed the world we currently find ourselves trying to navigate?! Not only is the human toll of this pandemic heartbreaking, the economic impact of productivity grinding to a virtual halt may have ripple effects that are felt for years to come.

As business leaders, it’s incumbent upon us not only to provide continuity of care to our clients, but also to support our teams and empower them to weather this unprecedented upheaval to “business as usual.” In addition to revisiting and adjusting your 2020 business plan and reviewing roles and responsibilities to ensure that team members can still do their jobs, the following are a few ideas worth considering – creative ways you can help keep your team more productive, better engaged and in good spirits:

  1. Stay focused on objectives and key results – with everyone working remotely, it’s easy to lose traction on your firm’s OKRs. However, there are a host of OKR productivity platforms and tools available to help you maintain team cohesiveness and coordination. Consider a solution like Workboard.com, Weekdone.com, Monday.com or 7Geese.com to keep driving key results.

  2. Upgrade team technology – these last few weeks, it seems as though almost every advisor I talk with brings one or two creative ideas to the table about how they’re actively working to empower their teams. Several have bought their team members new laptops that are more powerful and secure, while others have taken it upon themselves to pay to upgrade Internet upload and download speeds for their team.

  3. Improve workspaces – knowing that the current work-at-home reality may endure for a while, and that not everyone has the financial means or space for a home office, one advisor I recently spoke with opted to send each of his team members an UPLIFT desk for their homes!

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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, Productivity

Stay Connected Recommendations - For You and Your Team

Posted by ClientWise on May 7, 2020 3:15:34 PM

Looking for ways to keep your team and your clients focused and engaged? Share with them some of the books, TV shows, movies, podcasts, etc. that have helped lift your mood or provided a welcome distraction. Here are some of ours to get you started.

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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

Twelve Positive Ways the Crisis Will Impact RIAs

Posted by Ray Sclafani on May 5, 2020 1:58:00 PM

 
This weeks research insights, best practices, and fresh ideas on how to lead your clients and 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: Crisis

Stay Connected Recommendations - For You and Your Team

Posted by ClientWise on Apr 30, 2020 2:34:28 PM

Looking for ways to keep your team and your clients focused and engaged? Share with them some of the books, TV shows, movies, podcasts, etc. that have helped lift your mood or provided a welcome distraction. Here are some of ours to get you started.

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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

How to alleviate Zoom fatigue

Posted by Ray Sclafani on Apr 28, 2020 12:00:33 PM

 
This weeks research insights, best practices, and fresh ideas on how to lead your clients and 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: Crisis

How the CARES Act Impacts Your Clients’ Taxes

Posted by Ray Sclafani on Apr 20, 2020 5:01:59 PM

 
 
 
 
 
 
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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, Crisis

Effective Investment Charts for Communication with Clients

Posted by Ray Sclafani on Apr 10, 2020 10:20:09 AM

 
"Success is not final, failure is not fatal: it is the courage to continue that counts."
Winston Churchill
 
 
 
 
 
 
 
 
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ClientWise is the premier financial advisor coach focused on business development and management best practices for financial advisors.

Topics: Leadership, Crisis

Adversity Gives Rise to Great Leaders

Posted by Ray Sclafani on Apr 9, 2020 2:19:19 PM

Sometimes it’s at the turbulent center of a monumental crisis where true leaders discover their inner strength. Individuals who despite incredible fear and uncertainty found the inner strength to persevere through all the tumult. History is littered with examples; perhaps none so rooted in the American psyche than Abraham Lincoln – a very soft-spoken man from humble origins who somehow managed to hold this country together despite the profound loss of life all around him.

In normal times, an introduction like that would qualify as hyperbole. But as we’re all aware by now, the situation we presently find ourselves in is anything but normal!

As much as your clients want to know that their plan and their portfolio are okay, they also want to know that you and your team are okay. You need to reach out and reassure them that you’re both physically and mentally healthy and fully engaged.

Be self-aware and adaptive

There are seven skills of emotional intelligence – first among those is self-awareness. Take time to ask yourself are you okay and to think about what you’re doing to take care of yourself. Anytime there’s a significant disruption in our day-to-day routines, there’s a tremendous amount of energy required in order to maintain focus, stay organized and remain confident.

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

Topics: Leadership, Adversity, Crisis

A Guide to Working From Home

Posted by Ray Sclafani on Apr 4, 2020 11:39:11 AM

Controlling What You Can, Learning From What You Can’t

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

Staying Centered and Focused in a VUCA World

Posted by Rebecca Bradley, ClientWise Master Certified Coach on Mar 23, 2020 3:30:26 PM

Yesterday I exhumed a white paper that was published on Leadership Development by the Center for Creative Leadership in 2011 thinking it might be relevant to our current times. Written in the aftermath of the 2008 recession, its message seems even more relevant to our current situation. 

The author, Nick Petriegathered data by interviewing the current literature, Harvard Faculty, and 30 preeminent thought leaders. Here is an excerpt:

Roland Smith, senior faculty at the Center for Creative Leadership (CCL®) described the new environment as one of perpetual whitewater. His notion of increased turbulence is backed up by an IBM study of over 1,500 CEOs. These CEOs identified their number one concern as the growing complexity of their environments, with the majority of those CEOs saying that their organizations are not equipped to cope with this complexity. This theme was consistent among many of the interviewees in this study, some of whom used the army phrase V.U.C.A. to describe the new environment in which leaders must work:

olatilechange happens rapidly and on a large scale

ncertainthe future cannot be predicted with any precision

omplexchallenges are complicated by many factors and there are few single causes or solutions

mbiguousthere is little clarity on what events mean and what effect they may have

While this white paper is focused on large corporate organizations, I am sure you have been faced with challenges in

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