I’ve been in the financial services business for over 25 years. I’ve been around some of the best financial advisors on the planet – and unfortunately around some who made me wonder how they put food on the table. And I’ve learned from both.
I started out as an investor relations representative, talking to advisors and their clients, answering questions and “re-selling” my company’s products. Within eighteen months or so I moved to the sales side and have been there ever since. From working the “sales desk,” to internal account executive, to wholesaler, to managing director, I have been responsible at one point or another for most of the United States. And I’ve almost always worked with advisors, their clients and their centers of influence.
So what did I learn from good (and bad) advisors?
I am awestruck by those great advisors who can take a client’s dream and turn it into reality – whether that means retirement, college education for the kids or just plain old multigenerational wealth. To me, the best advisors are not discussing beta, standard deviation, alpha or some other Greek letter. They’re diving deep into the client relationship. Ultimately, they’re spending time in front of their clients – not in front of their computers. And they are building a business that will provide advice long after they step away. A business – not a practice.
Today, as Managing Director of the SEI Advisor Network’s Practice Management solutions, I work with advisors across the country to run a more effective practice. I also frequently present at conferences for some of the country’s most prominent broker-dealers and industry organizations, such as the Financial Planning Association.
In plain terms, I provide advisors with common-sense tips to grow their business. And in Practically Speaking, I look forward to sharing the conversation with you.
Recent posts by John:
Most advisors want to grow. Most grow by referrals. If you want help identifying where you can focus your efforts to attract more referrals, now is your chance.
Back in the early 1900s, a stockbroker named Henry S. Haskins said, “Panic at the thought of doing a thing is a challenge to do it.” He could have been talking about advisors using social media (you know, if it wasn’t the early 1900s). Luckily, our social media manager Heather Wilson is here to encourage you to give it a shot and “fake it ‘til you make it.”
There’s real, tangible value in communicating your brand. When you show people who you are and tie it to what you can do for them, it makes a compelling case to do business with you.
Think you’ve found your successor? Don’t rush into putting a ring on it – both sides need to make sure that they won’t end up in a dead-end relationship. I’ve got 6 steps to help you smartly integrate your businesses and set you both up for wedded bliss.
Are you happy with the quantity and quality of referrals you’re getting? If not, the issue may lie with the way you are branding (or not branding) yourself. Today’s guest post from Tactibrand’s Kirk Lowe sets the table for an ongoing series on advisor branding.
Tax planning is a year-round exercise. Dean Mioli, director of investment planning for the SEI Advisor Network Investment Services team, wants to help you pounce on planning opportunities.
The train has left the station. The cat is out of the bag. Choose whatever expression you want – but whether the DOL rule is delayed, modified or killed, a more educated general public will demand that you act in their best interests.
You won’t just wake up to a new, better business – you have to focus on 3 things in order to grow. If you don’t, you may wind up living the same (stagnant) business over and over again.
The advisory business is at an inflection point. I believe we will see more changes in the next 5 years than we saw over the last 30. And advisors who don’t have a plan for these changes may not be around to see them.