Today, Marc Rogers of Producers Prospect welcomes long-time collaborator Skip Johnson. Skip has re-invented himself several times, including building a $1 Billion RIA, Great Waters Financial. Great Waters was recognized in several publications as a top business in the state of Minnesota.
Skip explains how the key to financial planning is the plan itself, not the products you are selling. When we experience market volatility (as we are now), investors will sometimes question the products. But if this is all part of a master plan, that plan accounts for volatility when it's created.
The flip side of this is an opportunity for financial advisors to bring in new clients. Maybe these clients have reached a pain threshold with their old advisor that's causing them to shop around. This is where branding yourself as a thought leader in your industry comes in.
Create multiple touch points with your clients - have them see your name on the byline of financial publications, have them see your name on television and other media. And have an opinion. Skip talks about how these strategies have worked for him.
Also, have investment options available for clients. The democratization of financial planning has created a lot more access and knowledge for investors. Be ready to meet them where they are.
Finally, don't lose sight of what's important. Find a way to maintain your work life balance. But get to know your clients. Caring about them will go a long way.
Want to improve and grow your practice? Contact Marc and his team at Producers Prospect at https://www.producersprospect.com/
Or send him an email - mrogers@producersprospect.com.