Is the next market downturn your biggest vulnerability? It shouldn’t be. Many advisors lose clients when the market declines. The most successful add clients. Is the next bear a threat to your practice? If it is, how will you eliminate it? Continue reading
Author: Stephen Wershing
In a market crash, what you ask your clients is more important than what you tell them
One of the joys of volatile markets is that you can actually remember the lessons of the last big downturn, because it was not that long ago. One of the significant ideas to arise from that difficult time was the importance of doing as much asking as telling. Continue reading
How to turn a down market into client loyalty
The stock market dropped 5% yesterday, wiping out gains for the year. While this is bad for portfolios, it doesn't have to be bad for your client relationships. Continue reading
How to design a referral marketing strategy – results from client engagement think tank, part four
Building on what we learned from our think tank, some principles for designing a referral marketing strategy. Continue reading
Referrals 2.0
I authored an article on a couple of the discoveries we made at the Financial Industry Think Tank we held in conjunction with FPA Business Solutions 2011 for the Practice Management Solutions supplement to the Journal of Financial Planning. It appear as the cover story in the July/August issue. You can find the article here.Continue reading
Everybody relies on referrals, and nobody has a plan – Client Engagement Think Tank Part 3
Everybody relies on referrals, and nobody has a plan. Continue reading
Client service will differentiate you better than fees or fiduciary
Summary: Two new studies reinforce that clients care more about service than how you get paid or whether you are a fiduciary. Continue reading
IPI study: advisors think their service is better than their clients do
A recent IPI study reveals 63% of ultra high net worth investors are fully satisfied with their advisors and that, shocklingly, 95% of advisors believe their clients feel that way. Continue reading
Was his client advisory board worth it?
Financial Advisor and blogger Mike Patton just posted the results of his first client advisory board. Was it worth it? Continue reading
Results From Client Engagement Think Tank, Part 2
Surprising finding: Advisors don't consider their target market in their onboarding processes. Continue reading