Bob Veres’ Insider’s Forum: Prophets and Therapists

Sep 18, 2014

At last week’s Insider’s Forum in Dallas last week, Bob Veres had, as normal, attracted a good crowd of fee-based, fiduciary-oriented advisors and invitation-only exhibitors. There was a broad range of speakers, covering investments, technology and planning trends. The speakers were vying to give their view of the advisor market and their interpretation of what advisors should do.

The conference was lively and thought provoking. I had been invited to do a presentation on “Next Gen Financial Planning.” The front office space is dominated by two different technologies: CRM, which is the hub around how an advisor knows their clients; and financial planning, which is the hub where they show their value to the client . Client hub, value hub.
Rather than an exhaustive report on the different sessions, I’m going to identify themes of the conference that fit into the two camps: Prophet and Therapist. I’ll weave in some of the research from my presentation to give texture to the topics…

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Advisors: Change Is Good (Business)

Sep 16, 2014

I’ve said this before, but last year, I heard a quote from Bob Veres that has stuck with me: “Complacency is the biggest risk to a financial advisor’s business.” In light of competition from all areas, aging demographics, compliance and world financial markets, we cannot afford to be ostriches sticking our heads in the preverbial sand. We need to embrace change and capitalize on it. We need to evolve our businesses.

Read today’s blog post to hear why advisors sometimes fear change and on the flip side, five tips to change your business for the better.

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How Social Media Can Help Advisors Carve Out their Niche

Sep 11, 2014

Why is niche marketing important? It helps you understand your clients’ needs and narrow your audience so you can market to a more finite group of clients with similar planning needs. Once you’ve established a niche, the ultimate goal is to be referred within that niche.

Today, I’d like to provide you with some ideas on how you can engage your niche through social media, specifically LinkedIn and Twitter.

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At Your (Client) Service: 4 Essentials to Build Loyalty

When is the last time you reviewed your client service processes and offerings? If you can’t remember, maybe it is time to review them now. Read today’s blog post by John Anderson for initial insights from the FAInsights Growth by Design study as well as access to SEI’s latest toolkit, Four Essentials of Loyalty-Building Client Service.

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Technology Decisions that Drive Your Staff Crazy

Sep 4, 2014

When it comes to technology, it seems that making no decision is the number one reason employees are frustrated. But have you invested in technology and are now finding that your staff is still frustrated? With more technology options for every area of your business, you anticipated technology to eliminate, or reduce your firm’s frustration levels.

Take a read of this guest blog post from Sue Glover of Susan Glover and Associates. We love how this post focuses on how advisors’ actions can drive their staff crazy – a viewpoint is one we do not hear very frequently.

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How Advisors Can Deepen Client Relationships with a Models-based Approach

Think “models” are cookie cutter? Think again.

Read today’s blog to find out how models can help advisors manage client accounts efficiently and provide clients with portfolios constructed for their unique goals – usually around accumulation, preservation and distribution. Find out the benefits of this approach and what business impact converting to a models-based structure could potentially have on your business.

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4 Ideas for Advisors’ Fourth Quarter Push

Aug 26, 2014

The successful advisors I know typically have a marketing plan all year long. What is interesting to me is that many of them have a strong fourth quarter push. If you don’t have a plan or a fourth quarter push, the good news is that it is not too late. You can get started today — but you are running out of time.

Read this blog post for four suggestions to help get you close out 2014 strongly and set a path for success in 2014

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Don’t Bounce Your Referrals, Nurture Them

Aug 21, 2014

It’s like whisper down the lane. Delighted clients, networking events, business card exchanges—however your referrals have heard of your business, you don’t want the message to be jumbled midway. You want those referrals to visit your website, learn about you, and become a paying a client. Don’t bounce your referrals! Nurture them! Here is a process to ensure that the whisper doesn’t become lost, and that your referrals are led successfully through your Buyer’s Journey.

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Cooking Up a Great Client Experience

Great cooking is an art — so is providing great financial advice. The key is to make sure you put the time in to prepare. Just like a chef doesn’t just walk into the kitchen five minutes before the first patron is seated, the best financial advisors don’t conduct client service meetings without a process that the whole office knows and understands.

Learn more about effectively preparing for your next client meeting and find out about our latest webinar, Reinventing the Client Experience: Discover the Four Elements of Loyalty-Building Client Service, in which you’ll get more tools to prepare you for your next client service meeting.

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Succession Planning – Eating Your Vegetables

Aug 14, 2014

In May, SEI ran a survey asking advisors their thoughts about acquisition and succession planning. It is a hot topic and we were delighted to get feedback from 771 respondents. Today’s blog post recaps what advisors think about business continuity planning, succession planning and who to turn to when you need help with these important decisions. View today’s blog post for these insights on your peers’ responses as well as access to our latest white paper, Acquisition & Succession Planning: Shift Your Focus from Retirement to Growth, and entertaining video series.

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