Fixating on Technology more than People
 
In the era of the Blackberry, iPhone and other technical culprits, we often encounter advisory teams that have become extremely adept, and yet somewhat over-dependent, on these technologies and others like them. I am as guilty as anyone in this regard, but I do work on changing that reality.
 
People are [...]

It is one thing to be honest, and yet another thing altogether to be both honest and forthright.
 
I often use the example of when I first started in this industry. In those days, mutual funds had a 9% front-end load. Most advisors today would shudder at the prospect of having to tell their clients that [...]

Trying to come up with effective Client Service deliverables can often be a challenge. When crafting a Client Service Matrix, your prime directives should be first of all, coming up with something that is meaningful, and secondly, coming up with something that you can fulfill on a consistent basis.
 
The consistency issue is all-important. As a [...]

Not too long ago, I was working with a new client who had been an advisor for about eight years. She was a lovely lady from Calgary, Alberta, and one day, we had been working on how she could become better at capturing and chronicling personal information about her best clients’ lives.
 
Many of you who [...]

Why do people refer a professional to their friends, family, or people in their inner circle? Usually when I am discussing this topic with Advisors, invariably the answer the Advisors come up with is that “they want to help that person.”
 
I don’t deny that this is probably true, but our belief is that the motivation [...]

By David Miller
Have you ever wondered why you get more referrals from your mid-tier and lower-tier clients than from your best clients?
 
Most people chalk it up to the fact that their top-tier clients are less approachable. Some say that these people are an anomaly and they really don’t know anyone else with as much money [...]

By David Miller
It probably goes without saying that it is always a good idea to thank our advocates.
 
Your advocates are those people that rave about your services. For them, it truly is a kneejerk reaction to talk about you each and every time the topic of money or advisors come up.
 
Advocates understand your process for [...]

By David Miller
 
The ‘elevator speech’ is a sales technique that has been around an awfully long time.  Although it may certainly have its place for specific types of salespeople, I for one sometimes feel it is extremely ill-suited in the Financial Advisory world. 
 
If you truly wish to have that consultative style practice, where referrals [...]

By David Miller
 
Tax season is over and soon I am going to head in to see my accountant for a review of where we are at. Perhaps we will also do some planning for the coming year. Interestingly, even before I open the door, I know exactly what is going to happen when I walk [...]

By David Miller
Looking for referrals? Be referable!
It would seem that one of the golden rules of conversation around the globe is the fact that in everyday conversation, people always tend to discuss the things that exceed their expectations, or that fall below their expectations. People seldom discuss the things that simply meet their expectations, for [...]