Practice Development

The affluent overwhelmingly state that what they are looking for in an advisor is a true wealth manager, a long-term trusted relationship with someone who looks beyond investment consulting alone to the big picture.

Plan Your Work, and Work Your Plan

Advisors should set-up their calendar each week the same way – with times set for internal meetings, client meetings, case preparation and planning, and so on. Set goals for the optimum number of appointments each week, and block-off time for each. Sticking to a strict schedule, by not letting other activities interfere with what is really important, begins to pay dividends almost immediately.

We have attached a downloadable sample outline for the “Ideal Week” that is a good starting off point for advisors who want to begin developing their plan for success. The form (available in the right column) offers suggestions on how to develop a core structure of consistency – which allows advisors to work more efficiently by defining the structure that many advisors lack. The structure of an advisor’s week should always reflect both specific goals for meeting with clients and prospects, and when office work and case development is scheduled. Once established, it is easy to see what the entire day/week looks like, and allows the advisor to focus on each task at hand.

The following adage has probably been repeated, ad nauseam, because it offers such simple yet powerful advise, “Plan your work, and work your plan.”

  • FeatureD ARTICLE

    By Patricia J. Abram

    Recent market volatility has led many financial advisors to yearn for more efficient and profitable businesses. Particularly as portfolios have precipitously plummeted, many advisors whose compensation is primarily tied to assets under management have taken a direct revenue hit, with an even greater proportional loss to profits (since expenses are generally fixed). Even transaction-based advisors will soon suffer, because clients who moved to cash tend to sit on the sidelines for a long time. In either case, financial advisors have little room to cut back expenses and no control over the paramount factor of how well the markets are doing.

    downloadDOWNLOAD ARTICLE (PDF; 578 KB)

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