With all of the turmoil in 2008 and 2009, the search for financial information that will provide answers to the questions that people have is higher now than it has ever been. This has created one of the best opportunities for financial advisors in decades.
People, not just in the United States, but around the world are looking for answers to their myriad of questions and this is where the opportunities lie for the savvy financial advisor. If you can provide the appropriate financial information for your clients and their friends then your practice will thrive.
There is no doubt that we are in the information age and that is not about to change for many years to come. As a matter of fact, it is only going to get “worse” with people’s thirst for financial information.
You, as a trusted financial advisor, must position yourself as the expert with the answers for your clients and their relatives and friends. The way you can to do this is through your ongoing efforts to keep yourself current and up-to-date with financial information that will keep you on the cutting edge of what is happening all over the globe.
You will need to continuously read, listen to financial CDs, go to financial seminars and conventions, put on workshops and presentations, write articles, author a book if possible, send out consistent press releases and “touch” your clients more often than not. This list is not all inclusive so you can see the task ahead of you.
The tough part is there are no easy answers as to what will work best for your practice. Your practice is different from the many practices out there. That is both good and not so good. It is good because it sets you apart from all the other financial advisors and draws and qualifies the type of clients that you want to serve. It is not so good because it is time consuming to work on staying current with so many things constantly happening in the financial world. This is truer today than it ever has been.
Some solutions to this financial information overload problem.
First, set your priorities for where you want your business to go and stick with them. This is the most difficult task that any business owner has. You can’t steer the ship if you don’t know where you want to go.
Second, if you don’t have a “written” business and marketing plan stop reading this article and go and get one. If you don’t want to write your own business and marketing plan, than hire someone to do it for you. Trying to figure out what you are supposed to do with your business is not only very time consuming but it leads you around in circles.
So you say to yourself that you already know where you need to go and you are heading in the right direction. Do you really? Or are you just fooling yourself? Only you know the real answer to that question.
Third, after you figure out where you want to go and get the directions on how to get there-the business and marketing plan-then you need to put your plan into action. Now I know you are probably saying to yourself that this is all going to take time so how am I saving time if I am adding more work to my already crunched schedule.
There is an initial price to pay for everything so you will have to give up your time now to make things work better in the near future. Right now you may be taking the long way to get things done. By following the three steps mentioned you will get yourself more focused on what’s really important in your financial practice and you will find yourself making more money, getting more clients, and working less than you have in the past.
The choice is yours. Remember your clients are looking for more financial information and more hand holding than ever before. What do you want to do to ensure your financial practice thrives today and tomorrow?
Contact me with your comments and suggestions at:
Rich Sowa, CFP®
Phone: 502-569-1714 (EST)
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