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The Financial Advisor's Success Manual : How to Structure and Grow Your Financial Services Practice - David Leo

The Financial Advisor's Success Manual

How to Structure and Grow Your Financial Services Practice

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The tools and techniques you need to be a top-producing financial advisor.

How do you become a million-dollar producer, boost client satisfaction, and dramatically expand your business? The Financial Advisor's Success Manual provides the answers to these all-important questions--along with the proven techniques and expert insights you need to maximize the profitability of your practice.

Financial service firms traditionally aren't designed for serious growth. But this book shows how to break that cycle and earn more--all while serving your clients better. You'll learn to:

  • Develop a differentiation strategy
  • Effectively segment your book and analyze opportunities
  • Define and implement your six core client-facing processes
  • Balance the cost of services with the value delivered
  • Formulate your business plan
  • Enhance client loyalty
  • Measure what matters
  • Perfect your personal marketing and sales approach
Packed with tables, graphs, forms, worksheets, sample letters, and more, The Financial Advisor's Success Manual supplies everything you need to grow your business beyond your wildest expectations.

Executive Summary ix

Introduction 1



Chapter 1 | Develop Your Differentiation Strategy 5

What Is Your Value? 11

What Is Your Differentiation? 24

Action Summary | Develop Your Differentiation Strategy 35

Sample Unique Value Proposition 36



Chapter 2 | Formal Book Segmentation 40

Why Analyze Your Book of Business? 40

The Value of Determining Your 80/20 42

How Segmentation Is Done 43

Action Summary | Formal Book Segmentation 60



Chapter 3 | The Client Loyalty Process 62

Asset Growth Starts with Client Retention 63

The Value of High-Quality Client Service 64

Getting Your Client to "Completely Satisfied" 67

Your Intake Process 70

Your Financial Planning Process 73

Your Risk Management Process 80

Your Investment Planning Process 82

Your Client Loyalty or Client Service Process 84

Value of Continuing Improvement in Client Loyalty 92

The Kano Model 93

The Future of Delight 95

Action Summary | The Client Loyalty Process 98



Chapter 4 | But What's the Cost of Loyalty? 102

Managing Your High-Quality Proactive Client Service System . . .It's About Time and Money 103

Primary FA Business Activities 104

Client Contact Plan 105

Contact Workload in Volume 105

Contact Workload in Time 107

Additional Client Service Time Commitments 107

Next Steps 108

Additional Guidance 109

Action Summary | What's the Cost of Loyalty? 111



Chapter 5 | Your Intake Process 113

Meeting One: Discovery 115

Meeting Two: Detailed Discussion of Financial and Related Status 125

Meeting Three: Detailed Discussion of the Prospect's Game Plan 127

Action Summary | Your Intake Process 130



Chapter 6 | Your Client Planning and Review Process 131

The Client Planning and Review Meeting Process 136

Additional Topics: General Monthly Check-in Call Discussion Topics 148

Action Summary | Your Client Planning and Review Process 151



Chapter 7 | Your Business Plan 152

Prelude 152

Purpose of Your Business Plan 155

The Business Plan 158

Developing Your Value Proposition 159

Business Foundations 162

Goal Planning 165

Focus Areas: Marketing and Sales Strategies and Tactics 166

Focus Areas: Service Strategies and Tactics 173

Focus Area: Operations 173

Model Week/Time Blocking 173

Action Summary | Your Business Plan 179



Chapter 8 | Metrics: Daily Game Plan 180

The Qualitative Approach 181

The Quantitative Approach 182

Daily Time Log 187

The Six Most Important Things 187

Action Summary | Metrics: Daily Game Plan 189



Chapter 9 | Business Development 190

Introduction to Business Development 190

Client Introductions for Business Development 194

Client Acquisition Through Introductions 200

Using the Principle of "Aided Recall" at Review Meetings 201

Introductions from Clients Using the LinkedIn Approach to Client Acquisition 210

Summary: Keys to "Client Engagement" 214

COI Marketing Strategy for Client Acquisition 215

Book of Life for Client Acquisition 236

Niche Marketing for Client Acquisition 239

Additional Marketing and Sales Approaches for Business Development 243

Action Summary | Business Development 244



Chapter 10 | The Benefits of Implementation 246

Action Summary | The Benefits of Implementation 250



A Final Thought 251



Afterword 252



Notes 255



Index 267

ISBN: 9780814439135
ISBN-10: 0814439136
Audience: General
For Ages: 18+ years old
Format: Hardcover
Language: English
Number Of Pages: 288
Published: 7th December 2017
Country of Publication: US
Dimensions (cm): 10.2 x 7.3  x 1.0