The ClientWise Blog

A History Lesson in Gratitude, Living and Laughing at it All

Posted by Ray Sclafani on Nov 21, 2018 4:41:03 PM

As we take time to give thanks and reflect on the relationships for which we are most grateful, we invariably recall certain history lessons that serve as important reminders to celebrate a life worth living.

At ClientWise, our team is most grateful for all the many lives we have impacted, the long-standing relationships we have forged, and the milestones and traditions we have celebrated together. We also take time out to give thanks for one another, for what we have achieved together, and to listen to what’s going on in each other’s lives.

There’s an old song from the 1930’s Broadway play Scandals, originally sung by Ethel Merman and later made famous by Rudy Vallee called “Life is Just a Bowl of Cherries.” The lyrics seem as fitting today as they were more than 80 years ago:

People are queer, they're always crowing, scrambling and rushing about
Why don't they stop someday, address themselves this way?
Why are we here? Where are we going? It's time that we found out
We're not here to stay; we're on a short holiday

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

Topics: Leadership

Happy 4th of July

Posted by ClientWise on Jul 4, 2018 10:13:38 AM

Four Fun Historical Facts for Financial Advisors on the 4th of July

Happy Belated Birthday! In actuality, the real Independence Day, is on July 2nd. This is the day that Congress voted for independence. However, the written document wasn’t completed until July 4th. When the document was sent to the printer (John Dunlap) on July 4th, Dunlap printed that date in the announcement to the nation…and July 2nd became forgotten. Blame it on the printer!

 

Boom! Congress first authorized the use of fireworks on July of 1777. Today, according to the American Pyrotechnics Association, more than 14,000 fireworks displays light up the skies. For fireworks professionals, the 4th is kinda like Christmas for retailers, where they happen to do more than 90 percent of their revenues for the entire year.

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

15 Tips for Financial Advisors Who are Networking on LinkedIn

Posted by Ray Sclafani on Jun 20, 2018 11:24:23 AM

Expand client marketing via LinkedIn As the premier professional network on the Internet, LinkedIn is a great place to make professional connections and network for potential clients. If your Compliance Department permits social networking and activity on LinkedIn and you aren’t there already, it’s the place to start your social networking journey.

These 15 tips are designed to help you carve out a social networking identity on LinkedIn. Start by creating a LinkedIn profile, then find professionals to connect with and branch out from there. More than 467 million Americans have LinkedIn profiles and it’s a great place to prospect for potential clients.

You can also network with your high school and college alumni friends, professional colleagues in your community and across the country, and hundreds of other people. The possibilities are endless.

As always, it’s important to review and understand your firm’s compliance regulations and approach to social media before beginning any new strategy. Stay current on the industry regulations as with any digital marketing approach, this is a fast moving and ever changing environment.

1 Create a LinkedIn profile: If you’re not already on LinkedIn, it’s one of the best places to begin. Join and create a simple profile listing your current and past job titles and employers, a description of what you do now, your degrees, your skills and links to your firm’s website and your interests. Run that by the Compliance Department, post it and you’re on your way.

2 Update a LinkedIn profile: Go through your contacts and address book to find clients, potential clients, colleagues, friends, acquaintances, neighbors and anyone else in your online and offline networks. Not everyone you know will be on LinkedIn, but as the preferred professional social network, many will be. So start there.

3 Mine the networks of your connections: Once you’ve got some connections, check out your connections’ networks and see what professionals you know in their networks. Then extend invitations to those professionals.

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

Topics: financial advisor marketing, networking,, social media for financial advisors

Happy Memorial Day: Let Us Honor Our Fallen Heroes

Posted by Ray Sclafani on May 25, 2018 6:52:08 PM

Thanksgiving is a day when we pause to give thanks for the things we have. Memorial Day is a day when we pause to give thanks to the people who fought for the things we have.

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

Growing a Financial Advisory Business thru Mergers and Acquisitions

Posted by Ray Sclafani on May 17, 2018 11:22:33 AM

How three unique firms found common purpose in coming together

Rick Kent (founder of the suburban Atlanta-based Merit Financial Group) was actively seeking to grow his business – both organically and acquisitively. The former approach was yielding tremendous success, while the latter was proving to be a far more difficult challenge.

There’s no question that mergers and acquisitions of advisory practices are complex and emotionally-charged undertakings. Keep in mind that the seller is considering relinquishing control not just of an asset, but essentially of their life’s work. In many instances, their practice is tantamount to an adjunct family member. It’s a stumbling block that Kent had become all too familiar with. “The seller wants a deal to come together, but psychologically there’s a deep seated fear that when they pull away from the business, everything’s going to crumble,” according to Kent. “It’s far less about the money and price of the deal, and far more about the psychological impact of selling the business. There needs to be an extraordinary amount of trust established for any deal to succeed.

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

Topics: enterprise value, Mergers and Acquisitions, networking,

How are you acquiring clients today?

Posted by Irfan Raja on Mar 21, 2018 3:26:27 PM

All businesses need a sound marketing strategy, particularly in acquiring new clients. It’s not enough to be an expert in your field or provide outstanding service. If no one knows who you are, what you do, or more importantly, how you can help them, it is difficult to attract new 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 strategies

The NFL will donate 5$ if you RETWEET! #SaluteToService

Posted by Ray Sclafani on Nov 8, 2017 4:11:58 PM

This past weekend the NFL announced for every Re-Tweet they will make a $5 donation.  will donate up to $5 MILLION! Here's the article but before you go be sure to retweet - http://www.nfl.com/salute.

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

Hurricane Harvey

Posted by Ray Sclafani on Sep 5, 2017 5:53:24 PM

Nearly a week after Hurricane Harvey slammed into the southeast Texas coast, thousands of residents remain stranded without food or water. And the dangers arising from the unprecedented flooding seem to increase by the day – from hospitals forced to shutter and chemical plant fires, to sewage failures.

Over a six day period, this single storm has dumped nearly 27 trillion gallons of water over Texas and Louisiana, seriously damaging or destroying more than 100,000 homes, and a death toll that currently stands at 47 and is expected to significantly rise as the water levels begin to recede.

While it’s still too early to estimate, Harvey may very well end up being one of the costliest natural disasters in U.S. history with a price tag upwards of $70 billion. The cost just to remove debris from the city of Houston will likely approach $100 million.

Stepping-up and pitching-in

The pictures and emails I’ve received from friends and clients across the affected region are genuinely heartbreaking. But just as we as compassionate citizens opened out heart and wallets in the aftermath of Katrina and Sandy, I’m sure we’ll do the same in the wake of this devastating storm.

Many of you have also asked what you can do to help.

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

What is My Future Company?

Posted by Ray Sclafani on Aug 22, 2017 9:43:40 AM

I often ask advisors I work with to describe their future company to me. With very few exceptions, the responses I get overwhelmingly revolve around incremental change. It’s understandable.

As business owners, we reflexively cling to the present when planning the future – falling back on the tried and true “well, we’ve always done it this way,” or “yes, I know technology has improved by leaps and bounds, but let’s first focus on improving things at the margins.” We quickly become stuck in a rut because we think small; looking for ways to add operational efficiency to processes and procedures that quite possibly should be blown up and completely restructured.

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

Continue Your Education with Coaching Skills

Posted by ClientWise on Aug 1, 2017 11:18:54 AM

Most successful financial professionals possess the technical skills and qualifications necessary to help their clients and colleagues maneuver in a fast-changing market and professional environment. However, in a business that is built upon relationships -- knowledge of communication skills is just as important, if not more so, than technical skills. Acquiring coaching skills enables advisors to listen at a higher level to their clients, prospects and colleagues, to ask incisive and challenging questions that will bring important issues to the surface, and empower others to become complete partners in creating their own success. 

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Topics: Coaching

10 Key Marketing Elements for Successful Financial Advisors

Posted by Ray Sclafani on Apr 18, 2017 9:21:26 AM

It's always a good time for financial advisory teams to fine-tune their marketing plans. It’s vital that the team remains focused on reaching defined marketing and client acquisition goals they set in the beginning of the year. These are 10 practices that our research has shown to be integral to the marketing plans of successful financial advisors

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Topics: Marketing Approach

Your Most Important Clients? It's Your Team. 

Posted by Ray Sclafani on Mar 24, 2017 8:40:00 AM

If we only had a dollar for every time we’ve heard an advisor say “I’d really prefer not to add new team members because I just don’t like managing people.” Mind you, these are the very same advisors who are phenomenal at managing client relationships – highly adept at deciphering precisely what their clients hope to achieve and creating strategies to help them reach those objectives. So exactly HOW is that any different from managing team member relationships

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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, team leadership, Leadership

Developing an Emotionally Intelligent Team

Posted by Ray Sclafani on Mar 16, 2017 8:45:00 AM

The best in the business know that a critical part of their role is mentoring, coaching and developing their team. It's extremely important to gain the skills and experiences they will need in order to be even more valuable to the future team. It begins with developing a higher sense of self-awareness in the individual and a keener awareness of others: two of the most important emotional intelligence skills.

 

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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, emotional intelligence

Advisory Team Leader Non-Negotiables

Posted by Ray Sclafani on Feb 28, 2017 11:55:29 AM

You didn’t become the founder of a successful financial advisory practice without having a host of extraordinary talents – from strong rainmaking and relationship management skills to advisory and technical expertise. Early on, out of necessity, you had no choice but to become a jack-of-all-trades. As your practice grows and matures, however, it’s imperative that you learn to move beyond the lone ranger mindset and more tightly define and constrain your role in the firm. 

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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

Good Stewardship Begins with Your Team

Posted by Ray Sclafani on Jan 26, 2017 1:21:26 PM

Whether you call it outcomes-based financial planning, goals-based wealth management, or some other moniker, there’s no getting around the fact that it’s an essential component of being a true fiduciary. That’s because being a great steward of other people’s money is ultimately about helping each individual achieve the outcomes they dream – whether their goal is a simple comfortable retirement or a second yacht anchored in the Mediterranean.

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Topics: Team Development