Feb 2, 2012
By Matt Oechsli
Detroit—“We’re in a growth mode, but I know we’re not close to reaching out potential,” Chris explained to me while his partner Dan shifted uncomfortably in his seat. “I think we need to reassess our entire operation, especially our junior advisors.” ...
Jan 18, 2012
By Matt Oechsli
Dallas—“If we are going to develop the reputation we want within the affluent centers of influence, we need to raise our game,” Robert told me. “What do the elite teams you’ve coached do that sets them apart?”...
Jan 4, 2012
By Matt Oechsli
San Francisco—“We’ve been talking about making changes in how we manage our practice, but we never seem to execute,” said Jim, the leader of a very successful wealth management team. He then laid out a challenge to his team: “We need to make three New Year’s resolutions that will improve our practice—changes that we can execute. ...
Dec 14, 2011
By Matt Oechsli
The mantra for any type of social prospecting is strategic intent, and holiday schmoozing is tailored made for this. In simple terms, this means that you approach every social activity during the holidays with a game plan. You know who will be attending, whom you will know, whom you want to meet, and whom you’re targeting to romance into your pipeline....
Nov 30, 2011
By Matt Oechsli
Philadelphia—“I just spent an hour solving a problem for a very low-revenue client, embarrassingly low, especially when I discovered he no longer worked for the company whose owner is a good client,” mused Michael. He confessed, “I know what I should do, but these people need my help.”...
Nov 16, 2011
By Matt Oechsli
Chicago—“I just finished listening to a panel of our top producers talk about their service models, and it sounds wonderful. But then I find myself wondering, ‘Is this realistic?’ ” mused John. “I’m not even sure these advisors really do everything they’re saying.”
By the tone of John’s comments, it was obvious that he’d just exposed his Achilles’ heel—he wasn’t able to listen to this “best practices” discussion and make the connection between his professional world and these top producers. I got the sense that he’d rather complain than try to identify a handful of items applicable to his situation.
...
Nov 2, 2011
By Matt Oechsli
Dallas: “I’ve read your book Elite Teams and thought it was full of useful information,” said Tim in a very complimentary tone. He then followed with his question, “I understand the importance of holding an annual retreat, but I’ve never held one. Is it too late to pull one together?” ...
Oct 19, 2011
By Matt Oechsli
Austin—“I’m not certain how to handle this Occupy Wall Street movement,” admitted Michael, a veteran wirehouse advisor. “Now it’s Occupy Austin, and I know there are children of some of my affluent clients out there protesting.”
Michael was obviously feeling the heat since he is working for a major Wall Street firm. So are thousands of other financial advisors. C’est la vie. What’s happening around the world is no more directed at Michael because he chooses to clear his business through a Wall Street firm than it is directed at an advisor who chooses to clear through independent channels.
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Oct 5, 2011
By Matt Oechsli
Chicago—“Our firm keeps telling us to bring in more affluent clients, they’ve created all these new wealth management tools. But there’s a disconnect between the realities that I’ve got to do, day to day, and the support I’ve got,” Joe groaned. “So how realistic is it to be able to build the 21st-century financial practice you described?...
Sep 14, 2011
By Matt Oechsli
Vancouver—“Man, I got so much going on—all good stuff—but sometimes I’m not certain which way to turn,” Larry mused. Then, with a bit more honesty, he added, “Maybe I’m like most financial advisors and am easily distracted. I guess I need help prioritizing.”...
Jun 15, 2011
By Matt Oechsli
“I’m considering joining a team, but a bad experience a few years ago has me spooked. I had two partners, nobody was on the same page, and the break-up wasn’t pleasant,” Michael explained. “Do you have any suggestions?” ...
Jun 1, 2011
By Matt Oechsli
“My clients don’t seem to want to bring any of their friends to my client events,” Randy complained at our recent rainmaker retreat. He then proceeded to tell us about the series of small events he’s held that were great for entertaining existing clients, but not for meeting new prospects...
