Results 301–350 of 427 found.
A Process to Get Things Done!
Our firm has many new projects underway. Our owner expects us to finish everything quickly while still managing client accounts. How do we communicate that we are working hard and take these projects seriously but that we can't do everything at once?
Four Keys to Making Your Partnership Work
My partner and I merged our practices about a year ago. It seemed like a great idea that would take us to the next level, but I've become frustrated with some of his ideas and work habits. We still get along but the tension is growing. I'm starting to think this merger was a mistake.
The Secret Words Clients Love to Hear
We have many clients who are really wired. They know a lot of wealthy people and many sit on boards and are trustees. Given the level of service we offer, I would expect our clients to proactively introduce us to these folks. Instead, every meeting we ask them for a referral and nothing comes of it. Does this mean we don't have the great relationships we think we have?
Getting Your Boss to Understand You
My boss does not understand me. Every time he asks me to do something, he criticizes my work. Everything I submit is "wrong" and needs to be redone. I'm pulling my hair out (and I didn't have much to start with). How do I get him to see what I am doing in a positive light?
Motivating Advisors to Sell
I am frustrated by one of our advisors. He brought a relatively small amount of business with him (around $25 million) when he joined the first last year and promoted himself as having a number of connections in the community. Since that time, he has not brought in one additional dollar of new assets. How do I motivate him to sell?
What are the 'Magic Words' to Re-engage Past Clients?
My partner and I left a firm where we worked with clients for years. It's very disheartening how few of our former clients have followed us to our new firm. In some cases, they won't even return a phone call. What magic words can we use to get them re-engaged with us?
Helping Clients Redefine Retirement
Sometimes I fear my clients do not know what retirement will look like to them and so planning for it, financially or otherwise, is challenging. It's why I believe they need an advisor, but I want to be sure I am doing the best I can for them in these discussions.
Advisors Dealing with Illness in Their Family
My only brother is dying of cancer, my parents have both moved into nursing homes and we have a sick son who is in need of care. Given the number of advisors in my age category, I am maintaining my business but I can't focus on growth. Any suggestions on how to find resources to help me?
When Senior Managers Make Bad Decisions
What do you tell an insurance-based planning organization that owns a mutual fund company, a broker-dealer and an annuity company and has a 150-year track record as a mutual life-insurance company but does not require its recruits to be equities licensed at even the Series 6 level? These so-called advisors meet with clients but cannot provide the full suite of products and services that the parent company has available.
Dealing with Your Less Experienced Team Members
Are we the only place where the soon-to-retire advisors struggle to communicate with the newer staff members? We are not as tech-savvy or are marketing-savvy as they are, but they could learn a lot from our experience too. They seem too cocky to me, and I don't know how to get through.
What Makes a Compelling Marketing Hook?
How do we improve our image in the market? We are not well known for what we do, although we believe we do it better than the competitors. We talk about being fiduciaries and having an objective voice, but I don't know if our message is powerful enough. What else could we do?
Jumping into the Fray with Divorcing Clients
When is it appropriate to recuse ourselves from a nasty divorce situation between existing clients? We are in a losing place if we take sides, and I do not prefer one member of the couple over the other. I enjoy both and what they are doing to each other - and to their investment portfolio - is atrocious.
How To Make Better Hires
We just fired our fourth operations manager in six years. I find it tough to believe that filling a simple role like this can be so hard, but we've had no luck in keeping someone for the long haul. My partner thinks we need to hire an expensive recruiter. I don't agree. Can paying someone 30% of the salary plus bonus (the recruiter's fee) to identify the right person make a difference?
Dealing with Employees Who Are All Ideas but No Action
I run a training group in a large company. One of my key employees frustrates me. He is an "idea guy" but not an implementer. I like his ideas and am supportive, but I need to see action to know they are working. How do I rein someone is who is a big thinker but not a big doer?
Coping With an Erratic Boss
We are all tired of the erratic behavior of the lead advisor in our firm. One day he is perfectly fine, then the next he is yelling in the hallways over some perceived infraction. I never know what is coming next. Can you suggest strategies that would better enable us to work with Doug?
When Delegating Leads to More Stress
I have been trying to delegate more of human-resources responsibilities to my operations manager. However, my operations manager has made two poor hires in the last six months. I can't delegate if I can't ensure that things are done well. I'm inclined to take back these responsibilities unless you tell me otherwise.
Is it Right to Bash a Previous Firm?
My partner and I left our previous firm to start an independent advisory practice. We had issues with its business approaches and even some ethical concerns. Part of me thinks we should let our clients know of the firm's nefarious ways, but part of me thinks that is behind us and we should look forward.
Managing Meeting Mania
When I look at my calendar and try to figure out why I am so unproductive, I realize how much time I spend going from meeting to meeting. Sometimes they don't even have anything to do with my work! Is there a graceful way to say "Thanks, but no thanks" to a meeting invite?
When a Colleague Just Isnt Listening
One of our more senior financial advisors struggles with communication. He knows what he wants to say, but he doesnt convey his ideas in a clear and thoughtful way. He just doesnt listen well and thats why his responses are not strong and clear. Is it possible to teach listening skills?
Networking with Centers-of-Influence
I have worked with the same accountant on behalf of one of my clients for years, but the accountant and I have never had a non-client related conversation about our business. How should I approach the accountant to ask for additional business?
The Power of Storytelling
I’ve read in the past that you encourage telling stories about clients. There are lots of compliance reasons that deter us from getting too specific when telling a client-based story. In addition, I don’t see how stories are of importance. Can you clarify?
A Women’s Viewpoint of Bullying
I was once asked by a major periodical to comment on research that showed an inordinate percentage of women who get to senior-level positions in investment firms end up voluntarily leaving to start their own business or to enter new industries. The "brain drain" of women from investment advising has been significant. I thought about this brain drain when I received another letter on the issue of bullying, this time from a woman.
How to Get Chatty Clients off the Phone
My clients are very happy - I know because they call me with every little question and I respond. Some just call to talk about Obamacare or the market trends. Its not that I dont enjoy the conversations, but it gets very difficult to plan my day with this much chatting.
More on Bullying - Because it is Everywhere!
I received a response to last weeks column, in which I gave advice to someone who was being bullied, that pointed out some areas in which I missed the mark. The writer said I did not address taking a "direct approach" to dealing with the bully.
Yes, Even Advisors Get Bullied!
I am a financial advisor who is being bullied in my office. I cannot sleep, have constant anxiety and feel like I am working under war-like conditions. I have tried everything to shore up my confidence, but I cant stop the onslaught of vitriol that comes at me every day.
Should You Say "No" to a Prospect?
We are unsure of the best follow-up approach for prospects who don’t seem ready to move their money to our firm after five meetings. Do we give up? Do we keep following up on the assumption that they would not go to that many meetings unless they are interested in eventually working with us?
Overcoming Bad Performance
Our investment strategy did not fare well last year and we lost ground to competitors. Were on the defensive with clients, which makes it hard to have any growth discussions. We have corrected our approach and are on track for much better performance for 2014. Any tips to get our clients to believe in us and stay with us until the turnaround?
Why Bother with a Target Market?
What is the purpose of a target market? I find the concept limiting. We work well with young professionals in their 40s and retirees in their 70s. We have clients that are couples, families and successful singles. I am hesitant to limit our approach to a certain group.
Tips for an Effective Study Group
I have been talking with a couple of advisor friends about developing an informal discussion group. We would share ideas and updates, but not secrets about the inner workings of our firms. Do you have any advice to make our sessions meaningful and practical?
Dealing with Bad PR
One of our advisors quit under difficult circumstances. He talked to some local reporters afterward, and now we look like a terrible place to work. His actions have damaged our reputation. We did not do anything wrong. This advisor was a misfit from the start. What can we do to minimize the ongoing problems his departure is causing us?
A New Boss Who Undervalues the Firm’s Story
My boss was recently hired. She has been successful on the asset-management side of the business but not in wealth management. Her entire focus is on the investment process and the investment philosophy. Our clients hire us - and stay - because of an overall relationship. I am beginning to think she does not understand wealth management, so she stays away from talking about anything other than investments. Is there a way I can teach her how to value all of what we do?
When the Boss Makes Bad Decisions
Our founder and current president is a control freak. No decisions can be made without his blessing. The problem is that he is semi-retired. He can be gone for two weeks out of the month sometimes. The business still has to run and we have to make decisions, but the last person who made an executive decision in Joes absence was fired. Is there a way we could conduct an intervention?
Young Talent That Comes -- And Goes
We have struggled to find young talent to hire and groom for our firm. It seems everyone under 30 works somewhere for three years and then moves on to the next thing. One guy we hired had four serious jobs on his resume and hadnt turned 30 yet. If we cant get someone young to stay with us longer term, I am not going to introduce them to all of my clients.
Eight Tips to Manage Your Time Effectively in 2014
In honor of the New Year, this week’s column is devoted to addressing a question I get asked often: How do I manage my time most effectively? Most financial advisors are busier than ever but feeling as though they get less and less done. Before you set those New Year’s resolutions for your practice, review this list of what to do - and not do - for success in 2014.
Organizing Principles for Disorganized Advisors
How do I deal with the people on my staff who are disorganized? I have a couple of people who get three days’ worth of work done in one day, but most of the team gets little accomplished each day and keeps screaming for resources.
Making Brand Communication Work for Your Firm
I have sat in on meetings with my staff while they talk to prospects and clients and they say things I would never say. Everyone has their own style but it is important that we say the same things. Is there a way to accomplish this through training?
Results 301–350 of 427 found.