Insights from the experts in investment fiduciary responsibility.

Fiduciary Links: Putting Spring Back into Your Firm's Step

Posted by fi360 Team on February 10, 2014

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>>>  This past week there was a lot of coverage devoted to helping advisors grow their business, including a survey from Fidelity. The survey found that about 77% of the highest-performing advisory firms convince their clients to join in two meetings or less. High on the list of determining success was an efficient sales process. High-performers also consistently took a team-approach within their firm.

Take a look at Michael Kitces' Five Stages of Growth in a Financial Planning Firm. Where is your firm now? What actions might propel you to the next stage, if you want to travel that route? Another article to consider is Lug It or Leave it. Do you have baggage that might be holding you back? Having a bad experience impact future behavior is a common problem - and recognition can be the first step in building new habits. Turning a weakness, like aversion to cold calling, into a learning opportunity might provide the advantage you've been seeking.

Lastly, when you're looking for new clients, forget about the need to persuade them, just focus on changing their behavior. Think about what it takes to change your behavior, and employ these same tactics on future clients. Use the strategies in this article to refocus your growth and retention strategies.

Now on to the rest of the week’s best links:

News and columns from the leading trade, consumer, and mainstream media:

From the organizations/associations/government/academia:

From the blogs:

Articles your clients are reading, (or should be):

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