Before we can start an effective coaching and consulting process with an advisor or team, it helps to understand where certain opportunities might exist; we call those “Opportunity Gaps”.
While the list of consulting programs we provide at USA Financial is long, we’ll focus here on how we help advisors identify what is really happening with the people they serve.
This is the first of two revealing exercises; this one called The Loyalty Ladder.
In order to maximize this particular Opportunity Gap it is important for us to ask our advisors "What do you have?" Or, asked another way, "Who are you working with?" That is why when we start working with an advisor or a team we never ask, “how many clients do you have?” It's an inappropriate question. What we ask instead is “how many households do you serve?” We start with that larger number and then break it down into three categories: Customers, Clients, and Advocates.
The first group, Customers, we describe as people that are doing business with you, but we also know they're doing business elsewhere. It may be that they do their wealth management with you but perhaps they’re doing their risk management and insurance someplace else, or it could be that they have a second advisor, just to mention a couple of examples. Obviously, we’re not downplaying the revenue that these folks generate, but typically these relationships are a product of timing and/or convenience and they rarely progress further with your practice.
Ever notice how market mood swings affect your clients' emotional state and decision-making? Trust me, you're not alone.
We’ll break down the four “ships” of motoring your business forward: Ownership, Leadership, Stewardship, and Relationship. Learn how to focus on each of these distinct areas to build your practice into a valuable asset, effectively lead your team, foster a culture of trust, and nurture vital connections with both employees and customers.
Drawing on historical market data and behavioral economics, host Kevin Roskam reassures advisors and clients that market downturns are a normal part of cycles and highlights the value of active risk management strategies designed to avoid catastrophic losses, encouraging investors to stay focused on their long-term financial plans rather than reacting to short-term market fluctuations.
Ever notice how market mood swings affect your clients' emotional state and decision-making? Trust me, you're not alone.
We’ll break down the four “ships” of motoring your business forward: Ownership, Leadership, Stewardship, and Relationship. Learn how to focus on each of these distinct areas to build your practice into a valuable asset, effectively lead your team, foster a culture of trust, and nurture vital connections with both employees and customers.
Drawing on historical market data and behavioral economics, host Kevin Roskam reassures advisors and clients that market downturns are a normal part of cycles and highlights the value of active risk management strategies designed to avoid catastrophic losses, encouraging investors to stay focused on their long-term financial plans rather than reacting to short-term market fluctuations.