What are top advisors doing differently for their clients?

13 replies [Last post]
Young Gun's picture
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Joined: 2011-08-05

I realize the biggest difference between a top producer and just about everyone else in the industry is the time they spend prospecting and the effectiveness of their prospecting methods. What I'm always curious about is what, if anything, the top producers are able to do differently for their clients? I'm sure they do a great job nurturing the relationship and making the extra effort to make their clients feel special, but I'm asking strictly about the investments and financial planning aspects. One of my biggest insecurities I hold is that even though I work at an independent firm, I fear that the client might be better off working with a top tier advisor who's capable of doing more.I was hoping someone on the board could shed some light on if there are any significant differences, or if it's really all just perception and account minimums.

Amber_M's picture
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Joined: 2011-12-26

For me it's focusing on current clients.  Meeting their attorney and CPA.  And lastly, asking for referrals.

llcoolj's picture
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Joined: 2008-11-23

I don't think many "top" producers do much differently than most all advisors on the investment side. It is really more about "who they know" and how they leverage those relationships. This is more of a relationship business than a "return" business. Selling investment returns or obscure strategies will get you into trouble. I learned that the hard way.You can talk alternatives, hedging strategies, blah. blah. blah. People do not want to hear that until they meet with you privately. By then time they do that, you have pretty much already closed the deal.I have found that most of my best clients came from the networks and events I have seen them at over the years. I take my time and try to get to know them. People like that. I takes longer, but it builds a much better client and referral source.Don't ever think your competition can do better than you. I always assume that no one cares as much about my clients as I do and that I know they are in good investments. If you keep worrying about what the other guys are doing, you might convince yourself they are better. That is not how you approach a situation. Unless, of course, you do not truly believe in your offerings. In that case, find a better Indy shop that is more your style.Get out and get involved in your community. You might be surprised who you bump into.

Element's picture
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Joined: 2011-12-28

Matt has some good stuff posted here... http://oechsli.com/Let's assume you are talking about advisors that don't have a natural market.  It's my belief that the best producers in this group do one thing very different from the rest.  They do the work - just not show up to work. 

Young Gun's picture
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Joined: 2011-08-05

Well that is exactly what I wanted to hear. I have tremendous personnel resources at my indy and genuinely try to do the best I can for my clients so it's great to hear that I should be able to compete with anyone's advisor. I have a long way to go to reach the prospecting activity of the top tier advisors but it's very motivating to know that that's what I need to get better at to improve my business.Thanks for sharing the insight. 

inlandTX's picture
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Joined: 2008-08-25

It's funny you asked this, because 4 years ago when I got my can-sell and was working with a mentor advisor, I asked him if he ever felt like he was faking it when he first started out. He laughed and said, "Sometimes I still feel that way." Ours is a business that keeps evolving and changing. I don't know that you ever feel you know enough. I am sure, based on the attributes of some of the top producers I've known, that they still very definitely feel a constant hunger to improve. That alone is probably the difference between "great" and the rest.

ejones's picture
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Joined: 2012-06-21

In our opinion it all gets down to the personal approach to investment and retirement savings. You must be willing to assess what type of individual you are working with, listen to their intentions and shape a customized plan accordingly. At Ernest J Jones Associates, we focus on the individual as part of our family and help them plot a course to success as defined by the individual. Check us out at www.ejonesassoc.com for further information and weekly newsletters!

ejones's picture
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Joined: 2012-06-21

In our opinion it all gets down to the personal approach to investment and retirement savings. You must be willing to assess what type of individual you are working with, listen to their intentions and shape a customized plan accordingly. At Ernest J Jones Associates, we focus on the individual as part of our family and help them plot a course to success as defined by the individual. Check us out at www.ejonesassoc.com for further information and weekly newsletters!

ejones's picture
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Joined: 2012-06-21

In our opinion it all gets down to the personal approach to investment and retirement savings. You must be willing to assess what type of individual you are working with, listen to their intentions and shape a customized plan accordingly. At Ernest J Jones Associates, we focus on the individual as part of our family and help them plot a course to success as defined by the individual.

ejones's picture
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Joined: 2012-06-21

In our opinion it all gets down to the personal approach to investment and retirement savings. You must be willing to assess what type of individual you are working with, listen to their intentions and shape a customized plan accordingly. At Ernest J Jones Associates, we focus on the individual as part of our family and help them plot a course to success as defined by the individual.

CoachMaria's picture
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Joined: 2012-08-15

They create a lot of systems, templates, etc. They have a plan. Do a search online for "successful advisor tips" and I'm sure you'll find plenty of articles and reports on this subject. I've written about it, too.

Steelhead fisherman's picture
Joined: 2013-09-23

ours is steady client communication. this bullshit i hear about 'systems' and 'strategic plans' is horse shit. successful advisors wow the shit out of clients by integrating themselves in to their clients lives. this bill good crap is such a scam.

amanthapeterson's picture
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Joined: 2013-11-09

According to me it should be accessing the one or the client with all the informative detail and advice the one with the best alternative for them.

jtfrankot's picture
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Joined: 2013-06-18

Coming to this late, but a great topic. The minimum requirement is to perform. Aside from that, you need to distinguish yourself with something unique. An easy way to do this is with a value add.

In full disclosure, this is what my company does. We help wealth and luxury based businesses cultivate top-of-mind awareness. You can learn more at www.triplermedia.com. There is also a good article on relevant topic on site, look at REFINED CONNECT! tab.

JF

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