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Measuring the ROI of Advisor Marketing
by Beverly Flaxington, 6/25/13
Our practice has grown by word-of-mouth. A couple of my advisors want me to advertise and spend on expensive marketing programs. No one can show me the ROI for this. Is aggressive marketing a predictable way for advisors to get new clients? I just don’t see someone answering an ad who has $2 million (our minimum) to invest.

Getting Your Team to Communicate Your “Story”
by Beverly Flaxington, 6/18/13
We recently rebranded our firm and made a large investment in how we communicate our value proposition ? “our story.” We want to teach our staff how to tell the story in a similar fashion, but allow each person the chance to tell it their own way. How do we accomplish this?

Best Practices for Business Development
by Beverly Flaxington, 6/11/13
We recently hired a salesperson to find new opportunities for our advisory firm. Its not working out very well. My advisors dont want to work with him because the commission I have proposed would take away from their pocketbook. How should we successfully integrate a salesperson?

When You Have to Fire an Employee
by Beverly Flaxington, 6/4/13
I have to fire an investment advisor working for me. There have been some complaints from clients and employees that I cant ignore any longer. But there are clients who really like this guy. They wont be happy about this change. What do I do to ensure I dont lose these clients?

When Your Coworkers Don’t Measure Up
by Beverly Flaxington, 5/28/13
I work in a large financial organization. I’m frustrated that many of my coworkers don’t pull their weight. I work hard and am very committed, but those around me run out the door at 5 p.m. I want to talk to those in charge, but I am not sure how to go about doing it.

Does Your Firm Need a COO?
by Beverly Flaxington, 5/21/13
I run a 15-person firm. A consultant come and prepared a growth plan for our future. The number-one recommendation was that I create a role for a chief operating officer and hire this person. But I dont see how a COO helps a firm that is as small as mine. This seems the solution for a firm of 50 or above, and I cant afford a high-paid individual repeating what I already do.

Framing the Referral Discussion
by Beverly Flaxington, 5/14/13
Last week, I was training a group of very successful Florida-based advisors who brought up what is a common issue with regard to client referrals. Even the best advisors, with the most satisfied clients, offering the highest levels of service often struggle with obtaining referrals.

Eight Ways to Improve Your Relationship with Your Boss The Art of Managing Up
by Beverly Flaxington, 5/7/13
Many advisors with whom I work want their employees to work with them more effectively ? what I call “managing up.” Advisors are often at a loss as to how to motivate staff and get them to jump on board with new initiatives ? and those problems can be addressed by helping your charges improve their working relationship with you.

Best Practices for Following Up After a Prospecting Event
by Beverly Flaxington, 4/30/13
Based on your experience, what are the best practices for following up with prospects after an event that my firm sponsors?

Enforcing an Office Dress Code
by Beverly Flaxington, 4/23/13
Is it too much to ask of my staff members to be dressed well when clients come into our office? I may be old school but the disregard for professionalism is annoying to me.

Dealing with an Obnoxious Wholesaler
by Beverly Flaxington, 4/16/13
We have a wholesaler who calls on our office. He is completely and utterly obnoxious. I understand they are supposed to sell but he is over the top. I don’t like to be pushed into things. Is there a right way to tell a salesperson like this to back off?

The Big Lie of COI Referrals
by Beverly Flaxington, 4/9/13
Several weeks ago I responded to an advisors question about increasing center-of-influence (COI) referrals. The advisor was frustrated that seemingly good relationships with COIs were not translating into more referrals. I received a response to that column from Scott Johnson, director of sales and marketing for My Perfect Client, a provider of training programs for financial advisors. Scott shared some interesting insights about his approach to COI referrals and I thought readers could benefit from these ideas.

When the Boss is the Bottleneck
by Beverly Flaxington, 4/2/13
I have a thriving practice and am very proud of the way it has grown. I have reached a point where everything has to come through me. Every decision, new idea and project needs my attention or response. I have a competent staff, but I don’t have someone to whom I can delegate.

When Employees Get Too Friendly with Clients
by Beverly Flaxington, 3/26/13
One of my employees has become overly friendly with one of our larger clients. This concerns me because I know when people are friendly they can share too much information, or if the relationship turns sour we might lose the client ? or the employee. I value this employee but if I let her go, the client could pull their $5 million account. What advice do you have?

Cutting Through Financial Jargon
by Beverly Flaxington, 3/19/13
One of our portfolio managers is embarrassing in meetings with clients. He insists on using complicated terms, doesnt listen to what the client is saying and barges through with frightening concepts even though the client isnt interested.

Client Communication beyond the Newsletter
by Beverly Flaxington, 3/12/13
You have written about the importance of communicating with clients in a variety of ways. What are some examples of things that work best, other than the standard newsletter?

Increasing Center-of-Influence Referrals
by Beverly Flaxington, 3/5/13
I'm frustrated by the lack of success my advisors are having with centers-of-influence (COIs). I know all of the supposed tips but nothing works in practice. I was led to believe that if we follow the right process we will get referrals from them. It doesn't work this way. Do you have any ideas for increasing COI referrals?

Are There Too Many Financial Advisors?
by Beverly Flaxington, 2/26/13
Is our industry struggling under the weight of too many advisors?

How to Improve Your Presentation Skills
by Beverly Flaxington, 2/19/13
My financial advisors have the worst presentation skills. Any advice?

Can a Salesperson Help ? or Hurt?
by Beverly Flaxington, 2/12/13
I just hired a successful sales guy. He has been in the industry for 15 years and knows what to do. Our advisors will not allow him access to their clients; they prevent him from attending meetings and are generally usurping his role. How do I get him integrated into our practice?

Why Don?t Satisfied, Happy Clients Refer?
by Beverly Flaxington, 2/5/13
Many factors underlie this issue, and here are the four most important of them.

How to Hire the Best People
by Beverly Flaxington, 1/29/13
Numbers rule. Investments, financial plans and future goals can be assessed quantitatively. But the fundamental component of an advisor's practice is the people. Having the right people on your team to work with your clients and support your efforts is crucial to your long-term success, which is why I created a structured process for hiring the best employees.

Overcoming a Lazy Coworker
by Beverly Flaxington, 1/22/13
One of my co-workers is lazy. He doesn't come in on time, he never does the work he is asked to do and he won't answer the phone. The rest of us take care of everything. It frustrates me that the owners do not see how hard we work and how he never helps out. Is there some way I can let them know about the inequities without coming across as a tattler?

Dealing with an Unreasonable Compliance Department
by Beverly Flaxington, 1/15/13
I am in a very successful practice within a B/D. The firm brought in 'new guns' to oversee our compliance. I got along fine with our old team. Now everything we do is scrutinized and most of the time we are told 'no.' How should I deal with an unreasonable compliance officer?

Should Bonuses be Tied to Performance?
by Beverly Flaxington, 1/8/13
We do performance reviews for our staff every year. I do not believe performance should be directly linked to bonuses ? they are different topics. But my COO says that we should divvy up the profit pool based on everyone's performance. Who is right?

How to Boost Your Team?s Morale
by Beverly Flaxington, 1/2/13
With the new year rapidly approaching, I want to instill enthusiasm and excitement for my team. We are concerned about the events in Washington and the price we will pay for inaction by our politicians. In the face of this, I want to remind my team of the value we provide for our clients. How can I instill the boost I'm seeking without seeming fake or forced?

Managing Client Interpersonal Dynamics
by Beverly Flaxington, 12/26/12
I run a high-end family office firm. A couple of families are dealing with significant interpersonal dynamics. In one case, I fear a client's son is emotionally unstable and could be harmful to someone. In another case, I have seen unnecessary confrontation among siblings.

Should Your Firm Write its Own Marketing Copy?
by Beverly Flaxington, 12/18/12
My new marketing person has ideas for client outreach and communication. He says we would have more impact if we wrote our own articles and emails instead of using the vendor we have utilized for many years. Will we get more out of our communication if we write our own copy?

Dealing with Lazy Employees
by Beverly Flaxington, 12/11/12
We are doing everything by the book in terms of hiring and team development in our firm. We use a recruiter, have an on-boarding process, team-up new hires with existing staff members, and conduct regular performance reviews. So why are my employees still lackadaisical?

What to Give Clients for the Holidays
by Beverly Flaxington, 12/4/12
During the holidays we have always sent tasteful gifts to our clients. This year the other partners are encouraging me to abandon the tradition in favor of a donation to a favorite charity. It would be our choice of a charity and not the client's choice. I am uneasy about this.

Dealing with a Ruthless Competitor
by Beverly Flaxington, 11/27/12
An advisor in the same town as I am is winning business that should be going to my firm. Prospects tell me that he makes claims that I know are patently untrue. Is it appropriate in sales meetings to tell prospects that this guy lies?

Working with Clients when Markets are Tough
by Beverly Flaxington, 11/20/12
It's hard for me to get clients excited and upbeat these days. The markets have been disastrous and unpredictable for too long. How can I get myself back on track?

The New Dynamics of Referral Generation
by Beverly Flaxington, 11/13/12
Discussion of financial advice among acquaintances has gone totally off the grid. It has become an almost universally taboo subject. People are loath to broach any conversation about personal finances. What are your thoughts?

Overcoming Meeting Mania
by Beverly Flaxington, 11/6/12
My company is going to win the award for ?Meeting Mania.? When clients want to meet, I can?t accommodate them because of all the meetings we are required to attend: update meetings, investment meetings, focus groups, team breakouts, etc. It?s crazy, and I am not productive in this environment. How can I stop the insanity of these meetings?

Overcoming Employee Finger-Pointing
by Beverly Flaxington, 10/30/12
We have a team-selling approach. We have portfolio advisors, salespeople and client-servicing people who all go on calls together. I own the firm and I'm tired of hearing each of them complain to me about one another. It's always someone else's fault. What advice can you give me so that I don't say something that I will regret?

When Portfolio Managers are Asked to be Marketers
by Beverly Flaxington, 10/23/12
I work for a large firm as a portfolio manager. We are increasingly asked to make sales presentations and find new business. Is managing money no longer important in this business?

When Strong Client Relationships Aren?t Enough
by Beverly Flaxington, 10/16/12
Building strong personal relationships with your clients and consistently exceeding their expectations for direct, personal service ? these traditionally were the best ways to generate referrals. But what if that's no longer enough?

How to Manage an Overextended Team
by Beverly Flaxington, 10/9/12
I work for a large financial firm. I am continually frustrated by the fact that we generate lots of good ideas and talk about what we need to do, but rarely get things done. Many things stay open-ended, or up for discussion. I am part of the problem because I am so busy, as is my team. How can I be more of a doer and less of a talker?

When Centers-of-Influence Don?t Refer Clients
by Beverly Flaxington, 10/2/12
Everyone tells me I can sell more through relationships with attorneys and accountants. I have some that I know well. I refer to them, but they don't reciprocate. What am I doing wrong?

A Woman's View of Choosing a Financial Advisor
by Beverly Flaxington, 9/25/12
Here are five things I've learned about what women seek in the marketplace.

Selling Your Practice ? After Negotiations Fall Apart
by Beverly Flaxington, 9/18/12
I was hoping to sell my firm to another financial advisor. When the time came to close the deal, he turned into a different person, trying to negotiate for all kinds of things and generally being very nasty. The deal fell apart. How do I find a suitable buyer who will treat me with respect and negotiate fairly?

Dealing with Facebook-Addicted Employees
by Beverly Flaxington, 9/11/12
Is it reasonable to expect my younger staff to stay off Facebook and their phones, and concentrate on what they need to do to be successful? Is there anything I can do to get them to unplug and concentrate on our work during work hours?

Overcoming Client Inertia
by Beverly Flaxington, 9/4/12
I have clients with whom I have worked for some time, and they just don't make the decisions they need to. They will say they have a referral for me, for example, but never give me a name or contact info. They will say they are going to come to a client event, but then not bother to show up. What can I do to make them more active and responsive?

Managing an Unmotivated Employee
by Beverly Flaxington, 8/28/12
What do I do when I have staff members who don't seem interested in self improvement? They aren't bad workers per se; just not motivated to improve. It frustrates me no end that I can't light a fire under them.

Dealing with Gossip in a Small Firm
by Beverly Flaxington, 8/21/12
Is gossip bad in a small firm, or can it be useful? I like to have employees tell me what's going on in our eight-person advisory firm. For me, it's where I get my best information about what's really going on. Is there a better way for me to manage? I don't want to be destructive but I don't want to cut off my best sources of information.

Dealing with a Lazy Partner
by Beverly Flaxington, 8/14/12
What do you do in a partnership where one advisor (me) is aggressive, works late every night, brings in a lot of new business and the other (my partner) is lazy? It's beginning to annoy me that while I work hard, he just reaps the benefits without an equal contribution.

When Clients are on the Verge of Divorce
by Beverly Flaxington, 8/7/12
What do you do when you are pretty sure your clients are on the verge of divorce?

Dealing with Elderly Clients
by Beverly Flaxington, 7/31/12
What do you do when your client base is largely made up of elderly people and they are starting to fail - especially mentally? I have a number of clients who seem to be suffering from early dementia and memory loss. I don't want to be offensive to them, but I don't trust they even understand what I am saying sometimes about their financial situation.

Integrating a Salesperson into Your Practice
by Beverly Flaxington, 7/24/12
I'm about to hire a salesperson for the first time. We need a go-getter who will find us new business. How do I avoid conflict between this new person and my advisors? I want everyone to work together. Do I wait for tensions to dissipate or are there things I can do to set up for success?

Happy Clients - But No Referrals?
by Beverly Flaxington, 7/17/12
We have very satisfied clients. Our last client satisfaction survey showed a 98% 'high satisfaction' rate. However, we don't get many referrals. It's frustrating because we do everything to serve our clients well - and we ask for referrals. Why don't happy clients refer to us?
Results 601–650 of 654 found.