Last week, there was a Financial Planning Association group discussion in which someone posed the question: Why do people resist creating a formal financial plan. This is a great question and gets to the core of financial planning. Many people do not know what financial planning is. I think many financial planners are still learning […]
Last week I was working with one of our Certified Wealth Mentors with my role to offer some behavioral insights on some difficult client cases. The cases were difficult because of the clients attitudes not only to financial decision-making but also to life. These cases reaffirmed to me how much trust is core to all dimensions of every client situation. This is why when we redeveloped our DNA personality system in the past year we made trust a new stand-alone personality factor.
Often when we talk about trust it is in the context of our role as trusted advisor and building open relationships with clients. Certainly, this is an important dimension. Talking about trust in this way is fine. However, the heart of truly understanding trust and to knowing our clients is to know where trust comes from.
As many people know I have a very deep passion for cricket. My love of cricket even strongly rivals my passion for the DNA Behavior business. So, why not put the two together? That is what I have done this year by launching the Cricket DNA discovery program with the Cricket Academy of the USA. […]
No matter the industry, providers of products and services are always saying something to the effect of: “You are blind as to who is going to walk in the front door for their first meeting with you. As you work with the client a bit you have a greater collection of knowledge but still not […]
In recent weeks we have strongly focused our messaging around “business transformation”. In particular, the need to address the client experience that is being provided in order to transform. So often, leaders regularly talk about getting the right people on board, developing the team and the leadership, having the right product, focusing the business plan, […]
For advisors, growing your financial planning business is about getting more of the right clients who you can profitably serve on a sustained basis. This means you must have financial planning clients who will pay for the value you provide and will allow you to do so efficiently and with minimum wasted energy. I am […]
Have you considered what is going to propel growth in your business in the coming months and years? Schwab conducted a research study in March 2009 which shows the greatest 3 enablers of growth are: 1. Closing the deal with prospects – 75% 2. Maintaining quality service – 73% 3. Adding new technology for scalability […]
The theme at this week’s FPA Conference in Anaheim centered on trust. Becoming the trusted advisor is not a new idea however, it is increasingly talked about. The question is how do you become the trusted advisor? How do you accelerate trust in your advisory relationships, and for that matter in any relationship? Building trust […]
In my work with entrepreneurs and family business owners there are quite divergent views about whether to bring children into the family business when they are young adults, or even at any stage. Some say never and others have a desire to perpetuate the family association with the business. There are cases for both. Of […]