Aaron Klein is the CEO and Co-Founder of Riskalyze, a financial software company that helps advisors pinpoint an investor’s “Risk Number,” letting them custom-build a portfolio that contains just the right amount of risk for that particular client.
Recently on the show I had the pleasure of speaking with Joey Coleman, CEO of Design Symphony, for over an hour. Joey gets hired by corporations like Zappos and Hyatt Hotels to assist them with their customer experience, so I couldn’t wait to ask Joey about The First 100 Days strategy and how it could apply to financial services.
In my hour-long conversation with Ron Carson, CEO and founder of Carson Group, he said something in passing (literally a 30-second aside) that is one of the best pieces of advice I’ve ever heard for financial advisors. Especially when it comes to connecting with uber-successful business owners and ultra-high-net-worth individuals.
How many of your clients do you love working with? If you’re like most financial professionals, there’s probably just a small subset of your clients that fall into that category. You don’t necessarily dislike your other clients, but wouldn’t you love to fill your business with only your favorite kind of clients?
Would you like to know how John Ruhlin, the undisputed king of professional giving, used just one gift to win millions in business?
John shared a story that sums it all up during our recent conversation; it all starts with John waiting over an hour to meet Cameron Herold, COO of 1-800-GOT-JUNK and renowned business coach.
What would you say to the idea that it’s actually easier to grow your business 10 times over than it is to simply double it?
That’s the entire premise of Dan Sullivan’s renowned program, The Strategic Coach, and he spoke with me recently to explain why the idea is so empowering to anyone who runs their own business, especially financial professionals.
Writing a book can do big things for financial professionals. Books reinforce the credibility of the author and can help establish the author as a thought leader and authority figure in the eyes of potential clients, plus it gives you an invaluable marketing and lead generation tool.
Have you ever heard of the company Riskalyze? It’s a popular tool financial professionals use to assign risk scores to their clients to guide their investment strategy.
Top advisors love to help clients plan their financial future. But that’s not necessarily their only passion.
Some wealth managers pursue hobbies outside of work that provide great personal satisfaction. Savvy advisors have found creative ways to integrate such hobbies into their financial planning practice.
Here’s a startling fact about business: Somewhere between 20% and 70% of new clients will stop doing business with you within the first 100 days of becoming a client.
Now most financial professionals will disagree with these figures. After all, you can barely get all the paperwork done in the first 100 days, so there’s no way a new client could stop doing business with you that quickly, right?
Have you ever wondered whether you’re telling your prospects the right marketing story about yourself and the service you provide? If you’re like most financial professionals, you already understand the importance of a story in marketing, but you…
If you want to become a successful financial adviser, there’s no way around it. At some point you’re going to have to get up in front of a room of people and deliver a talk.
There might only be five or 10 people in the room. Or there might be 100 or more. Either way, you need to be able to deliver an engaging and persuasive talk that connects with your ideal prospects and prompts them to want to set an appointment with you.
Date Published: March 9, 2016
I recently had the privilege of interviewing Ron Carson. In case you haven’t heard of Ron (learn more on LinkedIn), you should know a couple of important things about him. Not only is he the co-author of The Sustainable Edge (a recently released New York Times…
Top achievers’ thought processes are often the same. I was recently reminded of this when a friend shared a story about how he’s been able to achieve consistent double-digit growth every year for the last decade. It all began when I asked him, “What’s your secret to your consistently amazing growth every year?”
If you live in America, there’s a 99.9% chance you know that the new Star Wars movie is coming out on Dec. 18. After all, TV commercials advertising “Star Wars: The Force Awakens” have been running non-stop since September. Even with a DVR, they’re hard to miss… Behind all the hype and marketing is an incredible lesson that every financial adviser can learn from the basic plot of Star Wars and other similar Hollywood blockbusters, too.
Here’s a quick story of how I personally created a “Wow” experience to set the stage for how to pull this off in your practice…
Recently, I took a trip to Nashville, Tenn., to meet with a business Mastermind group I’m a part of. A few hours into the meeting, some comments were made by the group about my socks and those of another member, and how cool they were (For any of you who missed this recent men’s fashion trend, here’s a little more info).
Long story short, the new trend in men’s fashion is wild and crazy socks.
Date Published: June 3, 2015
Wealthy clients are accustomed to a certain kind of setting, whether it is their country club or the showroom of their local Mercedes dealership. If your office doesn’t have that high-end feel, you may already have lost them and you just may not know it, says Brad Johnson, a practice-management coach at insurance-brokerage firm Advisors Excel in Topeka, Kan. A simple tip to get started: Offer a beverage menu and fresh-baked cookies to all waiting clients…
Date Published: May 20, 2015
If you’ve been in business for more than 10 or 15 years, chances are you still remember what I affectionately call the “Technology Dark Ages.” Do you remember when almost all business communication was done by fax? Or how about when you had to pull off and find a pay phone to contact a client you were about to meet?
While those technologies improved our lives and made it easier to do business, they are antiquated compared to the technology at our fingertips today. Now we can call our clients as we drive down the road. Even more amazing, we can email them documents using the very same device we use to make phone calls. Of course, technology is always marching forward and giving us new and better ways to do things. With this in mind, I want to share seven technology hacks and tricks that every financial adviser should know about.
If you’re a successful financial adviser, odds are good you go to your share of industry conferences each year. You go because you know that at every conference, you’re going to get great ideas to grow and improve your business. But the truth is, if you are like most conference attendees, many of those game-changing ideas never get put into action.
Here’s an approach that helps you cut through the clutter of pages of notes to make sure the most important ideas get implemented every time.
Avoiding the fate of Kodak while learning the lessons of Apple’s game changer and Uber’s meteoric growth
Did you know Kodak invented the product that eventually put them out of business? It’s true. Kodak invented the digital camera way back in 1974.
So if Kodak invented the digital camera, why did it go out of business? Simple. Kodak officials thought they were in the business of selling film, chemicals and photo paper. They overlooked the fact that they were really in the business of helping people “capture memories.”
If they had realized why loyal customers actually used Kodak products, they would have put a huge amount of effort into bringing the digital camera to market, and the company might still be around.
The thought process that led to this turn of events — a company actually making itself obsolete — can provide some cogent business lessons for advisers.
Date Published: March 9, 2015
Brad Johnson, a practice management coach at Advisors Excel, an insurance brokerage firm in Topeka, Kan., has seen many advisers make the mistake of completely abandoning their core businesses to chase a “niche market” because it sounds “sexier” than their current business model.
“Don’t steer your business like a speed boat making quick turns. It should be more like a luxury cruise ship that makes slow and deliberate turns,” says Mr. Johnson, recommending that advisers first test the new niche. For example, if advisers want to start targeting doctors, they might send a direct mail piece…