Gaining Introductions to High-Quality Prospects: 4 Common Questions

Posted by Kristine McManus

October 26, 2016 at 1:30 PM

According to ClientWise, elite advisors gain more than 70 percent of their new clients through introductions, and the Oechsli Institute found that high-net-worth people prefer to be introduced to their advisor by someone they trust. So, if there’s one skill you should master for production growth, it’s gaining introductions to high-quality prospects.

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Topics: Practice Management

How to Find Prospects on LinkedIn

Posted by Kristine McManus

October 25, 2016 at 10:00 AM

Recently, I spoke with an advisor about building his business. He planned to spend thousands on purchasing a mailing list, hundreds to create a direct mail piece, plus more money on postage and handling. He hoped that by getting in front of one or two high-net-worth prospects, and converting one to a client, it would make the return on investment worthwhile.

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Topics: Practice Management

Should You Let Your Employees Work from Home?

Posted by Kristen Terpstra

September 21, 2016 at 1:30 PM

You’ve probably heard the chatter in the media around alternative work arrangements, with many of these shifts due to advances in technology. In our industry, many advisors have considered implementing a work-from-home policy or have been approached by employees interested in working remotely. So, the big question is: Should you let your employees work from home? Of course, as with any human resources question, there is much to consider before taking action.

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Topics: Practice Management

10 Best Practices for Developing a Human Resources Strategy

Posted by Angela Sarver

September 20, 2016 at 10:00 AM

When you hear the words “human resources,” do you want to run for the hills? If so, you’re not alone! For many advisors who have gone the independent route, human resources is often the business unit where they have the least experience. But when you have the right employees, doing the right jobs, you can create a more efficient, profitable, and scalable practice. So, to help you tackle this important facet of your business, I’ve compiled 10 best practices for developing a human resources strategy.

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Topics: Practice Management

Succession Options for Financial Advisors: Internal Vs. External

Posted by Joni Youngwirth

August 31, 2016 at 1:30 PM

You’ve no doubt heard the near-constant talk about succession options for retiring advisors. But whether you’re nearing retirement or not, you should be aware that succession planning involves more than valuations, terms of the deal, and buy-sell agreements. Rather, you will need to anticipate what the future business could and should look like. Do you want your firm to continue without you (internal succession), or do you want to sell your business to another firm (external succession)? After all, when it comes to succession options for financial advisors, each approach has its pros and cons.

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Topics: Practice Management

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