Recently I spotted a young lady going door to door in my small town passing out her resume to every business. She marched in, dressed for success and asked to see the manager. Then, with dignity and maturity beyond her years (she is a junior in our local high school) she presented her resume and her value statement to every manager. When I approached her about why she was going door to door, her answer was simple. “I need a job and I have to get in front of those who hire!”  Wow!

Two days later a local farmer pulled into our office parking lot selling fruits and vegetables. I asked him why he wasn’t just parked on a corner selling his products. His answer was simple “that’s what everybody else does. Me, I make it happen. I’m not waiting until it happens.” Another Wow!

In both cases, these individuals chose to break out, get out and reach their prospects face to face. The lesson here is simple; to grow your business you have to reach, see and meet more people. In this market, people need to know you and trust you. This can only happen if you delegate running the business to a limited number of hours each week and spend at least two days a week out of the office meeting, greeting and becoming known and trusted.

The school girl was going door to door on Saturday because she is in school until 4:00pm M-F. The farmer has to grow it to sell it. Yet in both cases they saw what it takes to be successful in this market. The same applies to each of us in this business. Or to put it another way, as Milton Berle said, “If opportunity isn’t knocking, build a door.”

As most of you know, we recently hosted a conference at the Ritz Carlton Grande Lakes in Orlando.  During that conference we were honored to hear from Mark Ferland, General Manager there on Ritz Carlton’s “Legendary Service”.  I know you would all agree with me that very few companies handle customer service better than the Ritz.  Here are some ideas from Mark Ferland’s presentation:

1. Legendary service does not have to cost a lot of money.
2. Service excellence is about consistency in connecting with the customer – regardless of the industry.
3. Product and process create the platform, enlightened leadership and engaged employees create the outcome.  You can’t deliver extraordinary service with flawed processes.
4. Mistakes are OK, a negative attitude isn’t.
5. There are 3 steps of service: 
    a. A warm & sincere greeting – use the guest’s name. 
    b. Anticipation and fulfillment of each guest’s needs – anticipation is key!! 
    c. Fond farewell – give a warm goodbye and use the guest’s name.
6. Related to (b.) above – anticipation is key!  fulfilling needs is necessary but not sufficient: 
    a. Know your clients likes and dislikes. 
    b. Have their individual profile.
    c. Anything the client needs or wants is available.
    d. Stay 1 step ahead of the client.  They use the phrase, “Radar on, antenna up.”
7. 67% of customers leave because of an attitude of indifference on the part of a company employee.  By contrast, 14% of customers leave because of dissatisfaction with a service or a product.
8. An expected response to a need communicated by a customer will only possibly be remembered, if at all.  An unexpected response that goes “above and beyond” the request will always be remembered.

These ideas can be adapted to fit any industry, but they are especially applicable in the financial services industry.  What lessons will you learn from Ritz Carlton?

Most of us are so busy running and growing the practice, we can’t afford to waste even a minute, let alone a whole hour!  But there are two hours in the day that, unfortunately, most of us are wasting!  They are: the first hour at work and the last hour before bed. 

The first hour at work is important.  Consider this:
1. To achieve success as an entrepreneur you have to invest in services.  So don’t “own” your email.  Have a key assistant go through your emails and pass on to you only the ones that require your attention.  Most advisors spend 90+ minutes per day on email.  My email is screened by my staff to eliminate all the “junk” mail as well as all those they can handle before I see it. 
2. Don’t have multiple calendars.  Whether you use a Daytimer or an electronic calendar of some type, keep only one and use it for both your business and personal schedule.  In our office we utilize an online calendar that gives us the flexibility for everyone to have their own calendar, but have access to each other’s calendar.  We have all learned to include our personal appointments here also to simplify our scheduling. 

Also, the last hour before bedtime is another time-waster.   How you use this time can mean the difference between a good night’s sleep and several hours of insomnia.  Start to unwind from your day at least an hour before you intend to go to sleep.  Preparing your mind and body includes:
1. Avoid the late news (the news is mostly bad which will cause sleeplessness)
2. No email or telephone calls within 2 or 3 hours of bedtime (unless it’s with your “special someone”)

Adapted from ”Time Management – How to Gain One Hour a Day’, by Michael Angelo Caruso.

Author Harvey MacKay said, “Time is free, but it’s priceless.  You can’t own it, but you can use it.  You can’t keep it, but you can spend it.  Once you’ve lost it you can never get it back.”  Even with the myriad of “time-saving” technological devices we now have, do you find yourself wishing for “just a few more hours in the day”?  We seem to always be in a hurry, but never really accomplish what we hope to.  The answer isn’t adding a few more hours to each day (we would just waste them in meaningless actions anyway), but the answer is to more effectively manage the time you have.  How can you do this?  Consider these ideas:
1. Instead of a “to-do” list, have a “not-to-do” list.  Think of the many time-wasters you perform every day and resolve to eliminate them.  Things like reading your junk mail, reading the entire newspaper, etc.  Any of these things that don’t actually accomplish anything in the end you should try to “not” do!
2. Evaluate what your time is worth: take your annual projected income and divide it by 2,080 – this will give you roughly what an hour of your time is worth.  Now evaluate how much time it takes to do everything you do.  Is it worth your time?  Or would you be better off delegating that task to someone else whose time is less expensive?
3. Delegate, delegate, delegate!  The more successful you are, the higher up the ladder you climb, the more valuable and in demand is your time.  Learn to give away any task that can be efficiently completed by someone else.

Next week: specific things not to do to focus on growth!

Adapted from ”Time Management – How to Gain One Hour a Day’, by Michael Angelo Caruso.

Apple (of computer fame) has a rather unique recruiting idea.  Have you ever had a really exceptional customer service experience – either in retail or in a business setting?  If you’re impressed enough with the experience to pursue the individual to become a member of your team, you can follow the lead of Apple recruiters.  They carry with them at all times a supply of cards with the Apple logo and, on the front, the text, “You’re amazing.  We should talk.”

The back of the card reads, “Your customer service just now was exceptional.  I work for the Apple Store, and you’re exactly the kind of person we’d like to talk to.  If you’re happy where you are, I’d never ask you to leave.  But if you’re thinking about a change, give me a call.  This could be the start of something great.”

Success in the financial services industry, as in any enterprise, requires that you populate your team with people who demonstrate great attitudes, personality and desire for success or achievement.  Consider adapting this recruiting idea to your own use!

Don’t overlook the possibilities for improving your team that are right in front of you!

The recent news about the swine flu pandemic begs the question: Are you and your office prepared for a national or international disaster?  Having weathered Hurricane Charlie several years ago, I can say with certainty that advance preparation is vital!  Also, having a written plan in place helps to assure your clients that you are “ready for anything.”  Your disaster plan should address several different issues such as:
• What the contingency plan is in case of a disaster – will you relocate to a temporary site, work from home or transfer your business temporarily to another financial professional?
• How quickly could you implement this plan?
• What strategy would you employ if 25% of your staff were not available?  50%?
• What communication process would you follow to inform your clients that you are working in a disaster contingency situation?  How soon could you implement this communication process?
• What is the communication process to monitor employees working in a remote environment (if applicable)?
• What health awareness programs/protocols have been developed to limit the spread of disease (in the case of a pandemic) – ex.: social distancing in the office, travel restrictions, medical screenings, etc.?
• What disaster plan testing is performed?  How frequently is the plan tested?
• Who is the lead person in charge of your disaster plan?
• Your plan should also include a listing of contact phone numbers for every member of your team, and your home office, if applicable.

Our office has a plan in place that is reviewed every spring before hurricane season begins.  We also include in our plan of listing of where each member of the team would relocate (such as to relatives or friends) in case of mandatory evacuation, with telephone contact numbers included.

Don’t wait until it’s too late to put a plan in place – disasters happen every day to people who think it “can’t happen to me”!

Google has introduced a new phone service for subscribers called Google Voice.  For those of us on the go with multiple contact phone numbers, this service could prove to be invaluable!  With this service, Google will assign you one phone number that is the only number you have to give to people.  You then register all your contact telephone numbers with them and instruct them how you wish to be contacted.  You can set it so that calls from select people ring through to all your numbers, others to only one or two numbers and some to go directly to voice mail.  This allows you to prioritize your calls without having to have someone screen them.

Another advantage to this service would be the ability to set a 24/7 emergency number for your clients.  You could have it set to ring wherever you are, or have it forward to another financial services professional if you are unavailable.  Your clients might already have your cell phone number, but this would elevate your service to them by giving them an emergency number to use 24/7.

You can see an informational video and sign up for this service at www.google.com\voice .Right now, unfortunately, there is a waiting list for the service.  But, if you’re interested, you will want to place your name on the waiting list now!

Possibilities for elevating the experience for your clients and prospects are everywhere – you just need to think creatively!

If you are spending more time dealing with the crises that arise in your office than you spend working with clients, you need to examine your office dynamics to stop the problems at their source.  Consider these potential problems:
• Is your office structurally organized to work efficiently?  Good organization facilitates successful accomplishment while poor structural organization causes team members to feel overwhelmed.  Consider re-assigning certain tasks to other employees and allow other tasks to be delegated when necessary.
• Is it clear who is in leadership in specific areas?  It is important that the hierarchy of power be spelled out, so everyone on the team knows exactly who is responsible for what duty.
• Do your procedures help or hinder people in their work?  Allow your procedures to be evaluated by those who actually have to follow them (not someone several levels removed) for ways to improve performance.

• Does your office layout offer the most efficient use of space, and also meet the individual needs of your team?  Again, include everyone involved in evaluating ways to improve.

As I’ve said many times, you need to be growing your business, not just running it!  Do whatever is necessary to organize your office so that everything runs seamlessly without constant involvement from you.  That might mean hiring an administrator, re-purposing space, or investing in new equipment.  The results – an office that runs smoothly and happy team members – will make it well worth the time, effort and cost!

 

Recently my EVP, Tammy Ernest, had the opportunity to attend a meeting of the Florida Luxury Marketing Council.  One very exciting piece of information she returned with was a service offered by Saks Fifth Avenue.  They offer a free service called the Fifth Avenue Club that will provide events such as a champagne lunch, fashion show, discounts for Saks purchases, etc. all at no cost!  One attendee at this meeting – a travel agent – is using this service for their HNW clients by hosting an event focused toward a particular extreme trip such as a safari.  Saks will provide lunch for the client while they view a fashion show of appropriate clothing for their trip and a presentation on packing suggestions.

What are some ways you could use this service for your clients?  The possibilities are endless!  An afternoon that is golf-related, or boating-related for your clients might include a lunch/fashion show and shopping for those non-golfers or spouses of golfers.  What a great way to elevate the experiences for your clients and partner with a high-end retailer at the same time.

What other merchants in your area offer free services such as this?  Have someone on your staff, such as a summer intern, spend an hour in research.  Think “outside the box” in looking for ways to bring value to your clients!

I would love to hear about any unique opportunities you discover!  Please email our office and let us know how you elevate the experience for your clients!

What are you doing in your community to become known and trusted?  There are many ways to get your name and reputation out there.  Let’s look at one of the simpler ones:

Sponsorship of and participation in an event or portion of an event is probably the easiest way to have your name become known to people.  Every region of the country has different events that are looking for sponsors, volunteers and advocates – choose one that is a passion of yours and get involved.  Events such as: golf or tennis tournaments, boat shows, private school fairs, marathons, car shows, charity auctions, etc.  You could provide bottled water, nutrition bars, golf tees, trophies, etc.  The list is only limited by your own imagination!  The key here though is to have your company information imprinted on each of these items! 

Being well-known and trusted can open doors that otherwise would never be possible.  Don’t underestimate the value of a good reputation!

We all know the old adage: “Failing to plan is planning to fail.”  This is especially true in the financial services industry.  Fortunately, you don’t need an elaborate, 30-page plan to be successful.  All you need to do is follow these basic principles:

1. Keep your focus on what really matters – clients and prospects.  Whether discovering new prospects or meeting with clients, your focus needs to be on developing good relationships with the people your business is centered around.  Everything else can be delegated!
2. Related to principle #1, be sure to stay in touch with those people.  Most clients desire more contact than they are currently receiving from their financial professional.  An easy way to be sure they receive the amount of contact they want is to ask them how often they would like to hear from you, and what form they would like that contact to be in: phone calls, face-to-face, written reports, etc.
3. Once you have established with each client the amount and type of contact they would like, the next step is to schedule those contacts.  There are many different calendar software programs that make this very simple.  In our office we use an online calendar that can be accessed from any computer with Internet connection.  This is something that can be delegated to your staff!
4. Plan ahead for the obstacles you will face.  No matter how well organized your planning is, you will face obstacles.  If you’re prepared for them, though, they don’t have to push you off-track!  If this is a difficult area for you, you might want to check out my new course, “Moving Through Obstacles and Keeping Things in Perspective.”

Keep it simple!  Having a 30-page plan might seem impressive, but it’s unrealistic to execute.  Decide what the basic needs are for you to be successful and concentrate only on those areas!

                                                            

In our industry today it is easy to lose sight of what is most important – helping others.  If you make your focus serving others, rather than making a lot of money, in the end you will accomplish both.  But don’t forget what your priorities are!  Regularly re-evaluate your focus and make sure your motives and attitudes are correct. 

The flip side of this is that you shouldn’t be ashamed or feel guilty about making money.  You have a right to expect to be paid for work you have done for others.  Don’t discount the value you bring to the lives of those around you!  Your knowledge and competence, when put to good use, enrich the lives of those you interact with.  So why should you feel guilty about expecting appropriate compensation in return? 

We all want to feel that we are making a difference in our world.  Unfortunately, too many people feel they need to do “big” things to make a difference.  Because of that attitude, many don’t do anything!  We all can commit to daily impacting the lives of those around us in a positive way, even if that impact is just in “little” things such as a kind word, a helping hand, or a generous contribution of time or money.  Those who are most successful have learned that this is the true secret of success!

 

Referrals are so important in the financial services industry – you might say they’re the life blood of our business!  With a warm referral or introduction, the possibility of acquiring a new client is increased exponentially.  Referrals are often seen as part of your compensation for a job well-done.  So why are we often slow to ask for a referral?  We are afraid to appear pushy or arrogant, or we might be inexperienced and unsure of how to ask.  Don’t let fear or insecurity keep you from pursuing this important business method!

1. Know what you want and where you want to grow.  You want an introduction to people in the niche or target market in which you want to grow your business!  This helps you to focus your efforts, rather than chasing every lead that comes your way.
2. Always provide the person you are asking for a referral with a list of no more than 15 people you would like to meet.  Develop this list based on the market your current client or prospect is active in – these will be people they are highly likely to know.  By focusing on specific names you are demonstrating specific direction in your business. 
3. Have a clear plan in place to get introductions from clients and prospects.  It might be when you close a sale, gain their account, deliver paperwork or conduct a review.  Whenever you plan to ask for a referral, be prepared ahead!
4. Understand that your attitude about your ability will determine your commitment to this process.  It is important to realize that it is impossible to succeed without relationships with others, and your attitude toward others will determine their attitude toward you and relationship with you.  The right attitude on your part will inspire a desire to help from them.
5. Always send a thank you note to everyone and anyone who gives you an introduction – whether or not the contact was productive.  Showing gratitude for their effort will make them more willing to help you in the future.

Acquiring referrals is an important lead channel to grow your business – don’t overlook or discount the possibilities open to you!

Expertise, credentials, capabilities, and personal service are important qualities to consider when positioning yourself in the marketplace.  However, the affluent and wealthy expect that if you are working with their peers, you are, in fact, credible, capable, and service-oriented.  Thus, attempting to differentiate yourself from others in the financial services industry is difficult, if not nearly impossible.  What significantly influences successful individuals is the “people side” of the business.  Key factors you should focus on to distinguish yourself are:
• Go to every meeting with mindset to listen – not just to present.  Listen to what they want!  Avoid the hard-and-fast and inflexible agenda.  They aren’t interested in your sales and capabilities presentation.  They want someone who is willing to ask questions and listen!
• Demonstrate a passion for them as individuals.  Be authentically curious, interested, and engaged about their goals, dreams, life, and business activities.  Focus on getting to know them so that they feel confident in your desire to serve and assist them.  They want to be heard and understood.
• Be consistent and follow through to shape, strengthen, and expand your relationship.  Avoid focusing only on the item or issue at hand.  Support their thinking process and lead them to long-term solutions and/or consequences.
• Be genuine – defined in the Oxford Dictionary as “not counterfeit.”

The American middle class mindset is to give in order to get something in return.  The wealthy, on the other hand, have learned, either through life experience or upbringing, a more altruistic mindset.  The wealthy give to have the opportunity to give again.  They want to be seen as a source of good things and good works.  They may feel a certain passion about an issue, circumstance, or cause to which they give.  Or giving might just reaffirm their sense of influence, accomplishment and acceptance.

Another more recent reason for giving is to salvage or improve discredited reputations.  While there are some who have taken advantage of others to attain their wealth and position, most are still decent, honorable people whose reputations have been tainted by the failings of others.  To counteract the negative press in recent days, many are stepping up their social responsibilities and leaving more positive, self-less legacies.

In all cases, it is important that you give in order to give again as well.  For example, don’t ask the head of an organization or charity to give you their mailing list in return for a seminar or sponsorship.  Instead, ask how you can serve their organization.  With the wealthy, your willingness to give and give again earns respect and creates favored access.

Trust grows from authentic interest and attention to the clients’ needs, perspectives and values.  Since the down turn, many clients, and certainly prospects, are guarded and cautious with advisors.  Advisors who develop the skill of empathy will reach clients in new and deeper ways, reconciling caution.  Sympathy is feeling “for” the client, empathy is feeling “with” the client.  Entering their world in a genuine and authentic way builds trust.  The more you know about your clients’ and prospects’:
• interests
• passions
• values
• expectations
the more you are able to enter into their world as a trustworthy resource.

To learn more about creating trust with clients, listen to Gary Shunk, CEO of Wealth Psychology, and DON’T MISS Gary’s presentation at the Regroup, Refocus, Recharge conference.

For the past 10 years or so a group of top-producers, industry leaders, coaches, and I go on a ski/brainstorming trip.
While sitting in the hot tub after a great day on the slopes, I was getting the update from one of the top advisors on the trip. 2008 was his best year ever, almost $4M of business revenue. He said, "We just decided not to buy into the belief that because the markets are down and the economy is bad that our business has to be down." He finds it amazing that his company is telling its advisors to expect another difficult year in 2009. It’s as though the company is giving them permission to fail. But he’s not listening. Instead, he’s working to make 2009 better than 2008.
 
What about you?  Are you resigned to this being a disappointing year or will it be your best year ever? What you think and believe matters.

 Listen to more from Bill Bachrach, CEO of Bachrach Associates, during Bill’s presentation at the Regroup, Refocus, Recharge conference, June 18-20.

Few advisors, if any, make it to high six-, much less seven-, figure production without a team.

The optimum team is structured so that the advisor spends at least 40% of the time allocated for work meeting with and talking to interested qualified clients and prospects.  The balance of the time is spent in education, preparation and socializing with clients and prospects.  So ask yourself:
1. Does my team handle the rest of the work?
2. Do I have a clear picture of how other top teams function?
3. Do I have the right people doing the right things?
4. Could my practice benefit from greater efficiencies and structure?

Hear more from Bill Good, Chairman of Bill Good Marketing about why team development is important at Bill’s presentation at the Regroup, Refocus, Recharge conference, June 18-20.

What the Affluent Want Now – A Compilation

• Those earning $200k or greater are more likely to cite the service features - “Advisors who are polite and courteous” and “Anticipating customer needs” - as key to decision making.
• One-third of wealthy consumers surveyed report they are increasing their savings.
• Most wealthy consumers have not changed their investing habits but 17% are increasing the amount of money invested.
• As income increases, select invitations to educational events or peer networking events have a greater influence on likelihood of their doing business with you.

What are people looking for?
• Superior customer service
• Advisors who are experts in the products
• Advisors who are polite and courteous

Hear more from Greg Furman at his presentation at the Regroup, Refocus, Recharge conference, June 18-20.

 

 

There are several key lessons to learn that are necessary for success, whether that be in business or your personal life.  Here are some of the most important keys:
1. Be trustworthy!  Whether you are dealing with clients, family members or friends, it is absolutely imperative that they know you can be trusted.  You can establish this trust by being completely open and honest in all of your dealings (this includes being willing to admit your mistakes), exhibiting competence in your actions, and showing concern for others and their needs.
2. Listen, listen, listen!  Focus on the other person rather than always doing the talking.  Not only does this help build a relationship with them, but you can also glean information that may be important to you in other areas.
3. Be persistent – but not obnoxious!  Don’t give up too soon on that prospect, however be sensitive to when your persistence is causing them to view you as desperate.
4. Focus on the person, not your product.  This might sound counter-productive when your end-goal is to sell your product. When you establish a relationship with the person first though, they will turn to you over and over rather than just buying once.
5. Be prepared!  Spend time researching and planning.  This builds confidence in you and your ability.

The successful person is the one who is constantly educating and evaluating themselves and how they relate to others.  Success means nothing without true, trusted, personal relationships!

It is becoming apparent, in the current economic climate, that many affluent and wealthy individuals have lost their confidence in their financial services professionals and no longer trust their advice.  In addition to this being an unparalleled marketing opportunity, it is imperative that you strengthen your personal relationship with your clients and elevate their experiences with you and your office staff.  In order to do that an understanding of the process of building relationships and delivering a great client experience is required.
Ask yourself:  What am I doing right now to become known and trusted in the vertical markets I want to work?  It is imperative to cultivate your relationships by staying in front of prospects and clients so that when a question arises, or a window of opportunity opens, you are the first person or team they think of contacting.  Cultivation is a combination of excellent communication, relevant information, and distinctive service.
Also ask yourself:  What am I doing to elevate my clients’ experiences in both face-to-face contact and within my office?  Every point of contact your clients have with you and your office staff should build their trust and confidence in you.  How they are treated on the telephone, in the office, and when they meet with you all play a part in their perception of you and whether or not they can trust your advice. 
Go off-site for a ½ day retreat with your staff and evaluate your processes to find ways to elevate and improve the experiences your clients have in their relationship with you!

 

You are invited to attend the:

 

Regroup, Refocus, Recharge Conference

 

June 18-20 – Ritz-Carlton, Orlando, FL

 

Includes a panel of high quality prospects taking your direct questions!

 

PLUS,

 

Richard Weylman, Bill Bachrach, Bill Cates, Greg Furman, Bill Good, Dr. Gary Shunk, and several others!

 

Check out the incredibly low registration fee and hotel rates!

 

  Interact with the top marketing minds in the financial services industry and

 

 Get Your Questions Answered!

 

 

It’s time to for you to Regroup, Refocus, Recharge!

 

 

Last week we examined several ways to deal with distractions – things that threaten to draw our focus from the important items on our priority list and steal our precious time.  Now, let’s look at more ways to minimize distractions and make it possible to use our time more productively.

4. Keep excess noise to a minimum.  It is almost impossible to completely do away with all noise distractions, but eliminate any noise you have control over.  Again, turn off the alert sounds on your computer.  If you need to listen to music while you work, be sure it is music that is calm and soothing rather than discordant and jarring. 
5. Whenever possible, have a “closed door” policy.  One of the biggest distractions in an office environment is having someone walking in and taking up your valuable time.  If you must be available, try to set certain times for people to meet with you rather than being always available.
6. Another big distraction is the telephone.  If possible, as with emails, set specific times when you will make or take phone calls.  Have someone screen your calls making appointments for return calls, rather than taking them immediately.  Of course, there are always exceptions to this rule – you would never refuse a call from your best client!
7. Whenever possible, try to start work an hour or more before everyone else.  It’s amazing what can be accomplished when there is no one else around!  This also gives you time to plan and organize your work for the day.  Make a list of all you need to accomplish and prioritize the items so you can be sure to complete the most important.

Distractions, unfortunately, are part of our working world, but with some effort and self-discipline you can overcome them and be more productive!

We all deal with distractions every day – things that threaten to draw our focus from the important items on our priority list and steal our precious time.  There are ways to minimize these distractions, though, and make it possible to use our time more productively.

1. The biggest distraction in any office is the Internet.  Whether you are surfing the Internet during peak productivity hours, or just continually checking emails, it is imperative that you be disciplined in this area.  Avoid the Internet completely unless it pertains to something work related – research for a market, information on products, etc.  Also, set specific times during the day when you will check email, and stick to those times!  Turn off the “alert” sound on your computer that indicates an incoming email to keep from being distracted by it.
2. Tidy up your computer “desktop” by removing unnecessary icons and neatly arranging useful icons in order of importance. 
3. Tidy up your desk by removing clutter and moving personal items (such as pictures, knick knacks, etc.) out of your immediate sight-line.  The only thing on your desk should be items related to the project you are currently working on.  Everything else should be placed somewhere else.

Next week we will explore more ways to eliminate distractions.

This is no time to be stuck on “start”!  Many affluent and wealthy individuals are frustrated and, in some cases, unhappy with their current advisor relationships!  Three strategies need to be executed brilliantly to capture these opportunities:

1. Create a scheduled service platform that is pro-active, not just reactive.  Turn your best clients into advocates or apostles.  When products and services are now seen as commodities, the new imperative is to delight the best clients.  They are your most valued assets!
2. Get focused.  Trying to reach “people with money” to grow your practice now more than ever is out of sync with the psychology of the affluent and wealthy.  Focus on specific groups of people – people who network and communicate with one another.  First, so you can get visible in their network and obtain positive word of mouth.  Second, it will enable you to become known and trusted within that group of affluent and wealthy people.  Never forget people buy you now more than ever.
3. Get out of the office.  Face time with clients and prospects is the only way to work through all negative news in the media.  At a minimum, you should spend 20% of your week (1 full day) marketing outside the office.  Meet clients and prospects for breakfast or lunch. Attend events in which your best clients are involved.  Elevate your visibility so people can begin to identify you as a participant, a partner, a member of their network.

Finally, put in enough effort to get to where you want to be, not just enough time to justify where you are now!

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