The ClientWise Blog

Alix Purcell

Recent Posts

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

Financial Advisors! You’re Talking, but What Are Your Clients Hearing?

Posted by Alix Purcell on Nov 19, 2014 10:30:00 AM


Professionals in any industry have to make a concerted effort to see things from their clients’ perspective. No matter how well-intentioned your efforts, it’s difficult to leave behind your expertise and day-to-day knowledge to communicate from the same vantage point as 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: Communication, Trust

Keep Your Marketing in Mind Even After You’ve Snagged the Client

Posted by Alix Purcell on Nov 14, 2014 3:00:00 PM


If financial advisors choose to invest the time and money to create an online presence, they better believe that people are going to place some value in it and except to see that carried through in their experience as the client. Content marketing works because people take to heart, or want to take to heart, what they read. The phrase "don't believe everything you read online" was coined specifically because of people's propensity to do so.

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

Topics: Marketing Approach, Client Engagement

7 Mistakes Financial Advisory Teams Will Make in 2015

Posted by Alix Purcell on Nov 11, 2014 10:00:00 AM


Bringing together a financial advisory team is a huge endeavor and very often a differentiator between solo advisors with moderate success and those who decide to team to experience incredible, sustainable, and truly fulfilling success.

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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, Team Development, Goals, Trust

7 Incredible Time Management Insights for Financial Advisors

Posted by Alix Purcell on Nov 7, 2014 10:00:00 AM


Time is the ultimate equalizer for financial advisors, or any business owners for that matter: No matter how many or how hard the challenges we face, and how many or how incredible the successes we have, in the end it really comes down to how we manage our time. Time management is one of the most requested topics we hear from our clients, because, as Brian Tracy points out in his best-selling book on productivity, Eat That Frog, time-management is really about life-management. Applying some of the tips from Tracy’s book below will give you an edge when it comes to managing your time, your business, and ultimately your life.

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

Topics: Organizing Priorities, Procrastination, Time Management

7 Strategies to Effective Client Communication in a Volatile Market

Posted by Alix Purcell on Nov 3, 2014 10:30:00 AM


I recently had a conversation with an investor who expressed frustration regarding her financial advisor’s lack of urgency in reaching out to her after the recent market adjustment earlier this month. In these times of market volatility, how much volatility is enough for you as an advisor to feel inclined to reach out to your clients? I’ve heard some investors say that several days in a row of 300-400 points would get their attention, for others it might take much less.  With the anxiety around the recent market correction, it is tough to know how to react in front of clients. On the one hand, you don’t want to overreact and cause unnecessary concern for your clients, but on the other hand you don’t want to leave them feeling as though they aren’t getting the attention or information they deserve. Here are some tactics to consider, and some to start implementing today, to avoid frustrated investors in the event of another market change:

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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, Planning

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 Key Issues for NextGen Financial Advisors

Posted by Alix Purcell on Oct 28, 2014 10:00:00 AM


It’s no secret that financial advisors under 30 bring a lot to the table when it comes to wealth management. Everything from their tech-savvy solutions, to their ability to connect on a very different level with younger investors make them valuable assets. But in what specific areas should they use these skills, and where should they focus their attention to speak to what the next generation of investors is looking for? We asked a panel of young, rising star advisors at a recent conference and here were their insights:

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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, Succession Planning, Millennials

Pay It Forward: Helping Financial Advisors Help Their Clients

Posted by Alix Purcell on Oct 23, 2014 11:00:00 AM


One of our latest blogs, 6 Essential Coaching Skills that ALL Financial Professionals Must Have I outlined the ways in which coaching is explicitly different from consulting, advising or mentoring. The skills that differentiate coaching from these other forms of professional development are also the elements that make it beneficial for financial advisors; not only within their own coaching as it works to improve their businesses, but also when working IN their business while interacting with clients.

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

Topics: Coaching, Leadership, Communication, Team Development, ClientWise

6 Essential Coaching Skills that ALL Financial Professionals Must Have

Posted by Alix Purcell on Oct 21, 2014 10:00:00 AM


As the premiere coaching company serving financial professionals, ClientWise has several key objectives to accomplish simultaneously. The first and, in many respects, foremost of these, is to disseminate knowledge about what coaching is and what coaching is not. This distinction helps financial advisors gain a clearer understanding of how coaching, different from consulting, advising or mentoring, can help them in the process of improving their practice and their relationships.

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

Topics: Coaching, Leadership, Communication, Team Development, ClientWise

5 Critical Marketing Questions Financial Advisors Must Ask Themselves

Posted by Alix Purcell on Oct 14, 2014 10:30:00 AM


As of 2013, the number of registered financial advisor representatives with a FINRA-member firm was roughly 700,000. With this number steadily increasing year after year, your marketing strategies must do the same. Research proves that 86% of advisors do not have distinct and/or consistent marketing and client acquisition strategies.  As a financial advisor, progression is key when it comes to marketing, but relying on the same tactics and strategies you've used for previous years will not give you an advantage, nor will it keep you differentiated among your competition.

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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, Client Engagement

The Biggest Oversight Financial Advisors are Making for their Future

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


We work with a lot of financial advisors who are in a building phase for their businesses. If anything, they are preparing to join existing financial advisory teams, or perhaps considering partner with their peers, certainly not thinking about the eventual sale of their business. 

 

This is a big oversight: No matter what phase of business you are in, if you lead your own financial advisory practice you should be seriously considering the sale of your business as it relates to its enterprise value and your own succession planning.

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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, Trust, Succession Planning

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

Help Investors Break Up with Unresponsive Financial Advisors

Posted by Alix Purcell on Oct 3, 2014 10:00:00 AM


Finances are a very scary part of life for many investors, and with this fear also comes the hesitation to make change. In many cases, investors are always ”on the brink” of switching financial advisors. Perhaps they’ve had multiple conversations with other financial professionals, but have yet garnered up the courage to actually move on.

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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, Trust

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