Elite financial advisors know the
value of deep questions. Here are some deeper questions to ask about your
financial advisory practice. Print this off and use it with your team in a
meeting.
1. Clarity – Do you have clarity around goals and practice on paper?
2. Complete – Do you have an Ideal business plan and marketing plan?
3. Acquire- Do you have an Ideal acquisition process to acquire and deliver more
value every year?
4. Service -Does your team have an Ideal client service process in writing, to
deliver more value every year and become more valuable to your best clients?
5. Team- Do you have the right amount of team members, and the right people to
manage your capacity currently?
6. Capacity – Are you managing your capacity well or are you working past
capacity?
7. Lifestyle- How confident are you in living your Ideal lifestyle and managing
your time?
Clarity
Do you have clarity around the future of your practice on paper? Would it be
valuable to get your complete financial practice in order, in ALL seven areas
listed above, in writing on an annual basis? What is the ideal revenue for you,
your practice, and your team? How many ideal clients and ideal families would
you like to work with? ___ yes ___ No ____ need to work on
The outcome for you: Clarity around your practice for you, your team, and your
ideal clients and families, and confidence of your future
Complete
Do you have an ideal business plan in writing and reviewing weekly? Do you have
an ideal client acquisition marketing plan in writing? Does your marketing plan
have a marketing activity calendar for events, activities, and measurable
targets, including lead and lag measures? How confident are you that your
marketing plan will deliver the results you are looking for (above or below 80%
confident)? ___ yes ___ No ____ need to work on
The outcome for you: Plans in writing and accountability process to follow
weekly, so you can focus on the bigger picture. Having a scoreboard and
tracking lead and lag measures. Activity is a lead measure, and results are the
measurement we most want, but we need to look at both. How do you keep track of
both?
Acquire
Do you have an ideal client and ideal family acquisition process to deliver
more value than any other financial advisor you know? Is it a proven scripted
process, or do you wing it, hoping it will turn out? How are you going to
deliver more value this year to ideal prospects? Do you use a proven client
acquisition process? Is it well documented with scripts, templates, and
marketing materials? Do you have a straightforward, chronological list of
simple action steps to implement your ideal client acquisition process, the
conversations you deliver, along with a checklist of items to keep you on
track? ___ yes ___ No ____ need to work on
The outcome for you: Confidence above 80% in acquiring the right clients and
building the right practice. It eliminates frustration and stress as a
financial advisor by having the right financial delegation clients and families
who trust you.
Service
How are you going to deliver more value? Deeper Conversations, more technology,
enhanced communications? How will you exceed expectations? Do you have a formal
feedback process for your ideal clients? Do you segment annually? After
segmenting between ideal clients and families, and everyone else, do you have a
written process for your ideal clients to deliver more value each year, in a
manageable timeframe? Is it a process that your team can deliver on your
promises, or does it rely on you? __ yes ___ No ____ need to work on
The outcome for you: Become one of the best financial advisors by delivering
more and more value every year. Attract the right people
Team
Do you have the right amount of team members, and the right people to manage
your capacity currently? Do you know at what level of revenue you will need to
add more team members? Do you have a written plan for every staff member with
written position descriptions, training and development plans in writing, and a
plan to help them achieve their goals and your practice goals? Do you have
written processes, checklists, or workflows managed by your team, so you can
take more time away from the practice? __ yes ___ No ____ need to work on
The outcome for you: Confidence in your team, and your processes in writing so
you can take more time off
Capacity
Are you managing your capacity well or are you working past capacity? To be
honest, capacity is the number one problem for elite financial advisors. Do you
know what your ideal capacity is currently for your practice? Do you segment
annually to grow and free up time? Do you grow than shrink, or do you shrink,
then grow? Did you know that only 13% of advisors feel in control of their
time? Do you feel in control of your time? __ yes ___ No ____ need to work on
The outcome for you : The time you are looking for, confidence, and measurable
revenue
Lifestyle
What does your ultimate lifestyle look like? Do you take enough time off every
year to do the things you want to do? Do you have or need a succession and
transition plan for your practice? Do you value time more than money? (
remember money is recoverable, time is not) __ yes ___ No ____ need to work on
The Quote M Uses in the Movie “No Time To Die” (Produced by Eon Productions,
distributed by Universal Pictures)
He says: "The proper function of man is to live, not to exist. I shall not
waste my days in trying to prolong them. I shall use my time." The quote
is by American author, and journalist Jack London.
Go for it and good Luck in 2022! Grant Hicks, CIM Practice Management Expert
No comments:
Post a Comment