The Financial Advisor's Success Manual

How to Structure and Grow Your Financial Services Practice

The Financial Advisor's Success Manual

Authors: David Leo, Craig Cmiel
Pub Date: December 2017
Print Edition: $30.00
Print ISBN: 9780814439135
Page Count: 288
Format: Hardback
e-Book ISBN: 9780814439142

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Table of Contents

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

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