What It Takes To Be On Top...

What It Takes To Be On Top...

In a study of top performing IARs in 2022, Schwab Advisor Services identified the things that those firms did that contributed to their exceptional growth:

1. Grow organically.?Top advisors relied on their existing clients and referrals more than most.

2. Have both strategic and succession plans in place.?Knowing what needed to be done on a daily basis and what the end game was was more prevalent among top firms.

3. Held on to their assets during the inflation and volatility. Communicating with clients to keep them calm allowed top advisors to hold onto more assets.

4. Had documented ideal client profiles and client value propositions.?In my recent Masterclass, I talked about the importance of selecting an ideal client and of being able to say why you are the only one for them.

5. Had integrated marketing plans. Top firms studied integrated client and professional referrals with marketing aimed at ideal clients.

6. Personalized their services?and made use of behavioral finance. Top firms focused not on some formula for everyone, but what individual clients wanted most, considering their individual behaviors.

7. Used their CRM as the central hub of client services.Here again, having a segmenting database and focusing on top clients, two of the things I spoke about in my recent Masterclass, made a difference in production.

8. Used digital processes.?Top advisors used document signing services almost exclusively.

The study concluded that top firms experienced two times the growth in assets from new clients over other advisors, driven by marketing and client referrals.?Growth from client referrals was the largest driver of new business. Next came growth from marketing to ideal clients and finally, business partner referrals.

My 90-Day Marketing Tune-Up Program focuses on all these components.?I have two more openings in this program.

You can continue to chase shiny objects, or you can set yourself up to increase your income by $50,000 or more over what you might otherwise earn this year. It’s your choice.

If you choose to learn more about this program, comment or message me and we’ll see if it’s right for you.

In the meantime,?keep?REACHING…

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