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 can provide advice long after they step away. A business – not a practice.
Today, as Managing Director of Independent Advisor Solutions by SEI’s Practice Management solutions, I work with advisors across the country to help them 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 help grow their business. And in Practically Speaking, I look forward to sharing the conversation with you.
Recent posts by John:
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We’re on the cusp of a growing movement regarding fees. If you plan to be in business 10-15 years from now, you should be actively looking at different pricing models.
We all think we’re going to live forever (spoiler: we’re not). But our digital lives? That’s another story entirely.
You’ve documented your investment process. But how many of you clearly describe what is just as important, totally independent of the markets, and completely under your control – how you service your clients.
When you truly involve and engage your clients in your relationship, good things happen (good things being more referrals).
Every month, the Practically Speaking team gathers to discuss the results of our content and social media activities. We look at which topics have generated interest, we share feedback that […]
In these volatile times, you’re talking to your clients. You’re reinforcing their financial plan and goals. But are you using this opportunity to redefine your client acquisition strategy? (You really should be.)
Before you get too far in executing your 2019 plan, you should turn a critical eye towards your marketing mindset.
Our end-of-year survey suggests advisors already wanted to improve communications and client education. And the current economic environment will force them to stick to those resolutions.