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How to Become a Virtual Financial Advisor

By Book Briefs

Wealth management firms are no longer looking at virtual advising as an alternative business model. The dynamics of client engagement have changed in 2020. Financial advisors who are not able to prospect and meet clients online will have difficulty competing in this new environment. Welcome to the new normal. COVID-19 lingers on and folks simply don’t want to come out of their homes unless its absolutely necessary. If your firm doesn’t offer a virtual option, prospects and clients will go elsewhere. In this article, we’ll talk about how you can avoid that. Here’s how to become a virtual financial advisor.

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Succession Planning Tips for Financial Advisors

By Book Briefs

Living in the moment might be a great way to avoid stress, but it doesn’t apply to all things in life. Financial advisors understand this. Our job is to look into the future, predict probable market trends, and plan for the comfortable retirement of our clients. Have you taken that same approach with your own future? Many advisory firms fail to create a succession plan until circumstances dictate that one needs to get done. That could be a few years before retirement or perhaps when planning a transition to another profession. In this article, we present several scenarios where having…

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How to Grow Your Financial Advisor Business

By Book Briefs

  John F. Kennedy once said, “Conformity is the jailer of freedom and enemy of growth.” To achieve real growth as a financial advisor, your brand and value proposition must be unique. It’s the only way to separate your firm from an ever-growing list of competitors. Keeping this concept of individuality in mind, there are stages of growth that are universal to all wealth management firms striving to expand their business. In this article, we’ll outline some of the common struggles with growth and how to overcome them. Here’s how to grow your financial advisor business.

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Key Habits of Successful Financial Advisors

By Book Briefs

It’s not just about the money. Financial services is a hospitality business. Success is directly related to the happiness and well-being of our clients, so it’s no surprise that top financial advisors focus on client experience and great service. In this article, we’ll outline the key habits of successful financial advisors and wealth management firms. None of these are related to portfolio performance, yet the financial advisors practicing these principles enjoy substantial growth and good retention numbers.

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7 Questions Financial Advisors Should Ask Prospects

By Book Briefs

You never get a second chance to make a first impression. For a financial advisor, the conversations during the first meeting set the table for the rest of the relationship. In this article, we’ll discuss some of the most essential questions should ask prospects to help set the right tone for the relationship. Need assistance growing your practice? Consider working with an experienced financial advisor coach from Northstar Leadership Solutions. Request a free consultation. Starting the Conversation Let’s start with the proper approach. New clients typically begin the conversation with questions of their own. Answering those in a conversational manner…

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8 Effective Financial Advisor Prospecting Ideas

By Book Briefs

Financial advisor prospecting has evolved. Technology is vastly improved. Social media has widened the prospect pool. Cold calling is obsolete. Your client acquisition strategies need an upgrade if you’re going to compete. In this article, we’ve compiled a list of effective financial advisor prospecting ideas that every advisor could benefit from. Need help growing your business? Consider working with an experienced financial advisor coach from Northstar Leadership Solutions. Request a free consultation. #1 – Find Your Unique Identifier & Brand It There was once a time when simply being the “local” financial advisor would bring business through the door. The…

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Financial Advisor Client Retention Strategies in 2020

By Financial Advisors

Wealth management is not a stagnant profession. Services evolve as the wants and needs of clients change. Client retention is dependent upon how well financial advisors adapt to those changes. At no point in recent history has this been more apparent than in 2020. In this article, we’ll discuss some essential financial advisor client retention strategies to help you hang on to more of your current clients and offer long-term value.

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9 Essential Financial Advisor Practice Management Tips

By Financial Advisors

Managing your advisory practice in 2020 is very different from how you may have done it ten or even five years ago. New technology and advanced communication tools have altered the landscape of client services. Market conditions are volatile. Consumer confidence is low. These all need to be taken into account when developing a practice management plan. If you already have a plan in place, don’t completely scrap the old framework. Just be prepared to modify it. In this post, we’ll provide essential financial advisor practice management tips for the “new normal.”

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How to Create a Successful Financial Advisor Business Plan

By Financial Advisors
A few days of careful planning could save you months of practice management mistakes. As a financial advisor, you have great ideas. You believe you can offer a client experience that exceeds all others. The challenge now is to communicate that vision to prospects and to define the structure of your business to allow you to bring your vision to life. In this post, we’ll provide some key tips on how to create a financial advisor business plan, so you can define your vision and outline clear, actionable steps to help you achieve your business goals. Need assistance with your...
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What is Executive Coaching?

By Book Briefs

President Harry S. Truman once said, “It’s what you learn after you know it all that counts.” At this point, we’re assuming you’ve completed your academic education. Years on the job have made you an industry expert. There’s no one in your company who’s better than you at what you do. How do you improve on that? One way is to hire and work with an executive coach. Even the best professional athletes need coaches. Ask Tiger Woods what he does when his swing mechanics are off. Query Tom Brady about his work with Josh McDaniels. These individuals have won…

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