Our firm has the great pleasure of working and consulting with successful advisors throughout the country. The truth is, we all want the same thing: We want a greater level of success. Everyone’s definition of success is different. Advisors we work with want a higher level of personal income. Some are focused on building a more efficient business, and some just want more free time to enjoy the successes they’ve worked hard to achieve.
There are only three ways to increase your level of success.
When we share these three variables with advisors with whom we consult, there’s usually an instant moment of clarity. The irony is that these three success variables aren’t earth shattering, but having a clear understanding of the impact they can have to your bottom line is essential.
Success Variable # 1 – Wallet Share
If you get more wallet share from the clients you currently have AND from prospective clients, you’ll drive more revenue to your firm. This is accomplished by adding products and services into your overall mix. (It’s no surprise that our top advisors have multiple licenses and represent multiple different product lines.)
Related Posts
Market Volatility Conversations: What Your Clients Need to Hear
In this episode of Financial Advisor Marketing Playbook, I’m joined by Senior Advisory Business Consultant Kevin Roskam to discuss navigating market volatility with clients. With markets experiencing recent fluctuations, we’ll dive into understanding investor sentiment, differentiating between working and retired clients, and addressing common advisor mistakes.
Why Good Hires Fail: Common Mistakes in Hiring a Junior Advisor
For you, bringing on a junior—or “NextGen” advisor—may be a strategic move, not only for capacity-building but also as a key step in building enterprise value, elevating the client experience, and advancing succession planning. Yet despite careful hiring, promising talent, and good intentions, many of these partnerships flounder. The hire doesn't “stick.” The vision for a seamless transition begins to unravel.
How AI is Transforming Advisor-Client Relationships & Document Security
Discover the concept of "Advisor 3.0," the importance of offering comprehensive services beyond investments, and how tools like Future Vault can strengthen client relationships, facilitate wealth transfer to the next generation, and ultimately enhance the value advisors provide.