Manage Your Practice
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5 Great Ideas for Cool Client Events
Added on February 2014 in Manage Your Practice
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Summary: New social media tools have made it possible for advisors to throw more effective events than ever before, practice management consultant Dan Klein told a packed room of advisors at the TD Ameritrade Institutional conference here on Friday morning. Rather than simply hoping clients would bring qualified prospects as guests, an advisor can research a supportive client's contacts on LinkedIn, and then suggest specific invitees.
Convincing women to build a stake in their financial future
Added on January 2014 in Manage Your Practice
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Summary: An Ohio adviser is using a formal incentive program to encourage her female clients to boost their financial education. Paula Chesser, an adviser with Robert W. Baird & Co. Inc. in Akron, Ohio, created a Savvy Women's Club that hosts eight workshops or seminars for her female clients on topics such as confronting risk in a portfolio and a “Guide to the Financial Markets.”
Direction Finder: Tell Your Employees Where You're Headed
Added on January 2014 in Manage Your Practice
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Summary: It’s probably the most common scenario in independent advisory firms today: employee goes to firm owner demanding a raise, a promotion, partnership in the firm or some combination thereof. Owner, caught unprepared, gives a non-response, usually including a promise to get back to the employee. From an employee’s perspective, the very worst thing—worse than long hours, unfriendly coworkers or even a micro-managing boss—is uncertainty.
Coaches Corner: Building the Right Comp Plan for Your New Hire
Added on January 2014 in Manage Your Practice
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Summary: When structuring a compensation plan, the first thing to do is think carefully through the compensation structure of your new position and ask yourself, “Would this attract the kind of high-caliber candidates I am looking for?” To find and attract the best talent and ensure your new hire fills the role you envision, you must appropriately incentivize the new employee. This may sound simple in theory, but the truth is that a compensation discussion entails much more than “How much do I plan on paying this person.
Networking Seminars Do More Than Spark Referrals
Added on January 2014 in Manage Your Practice
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Summary: Anyone who’s ever been pressured into enduring a social “mixer,” where people stand around with a bunch of strangers more interested in their canapés than in small talk, has reason to dread such an event as an awkward waste of time. A well-crafted networking seminar should be just the opposite, experts say. With intelligent marketing and stimulating topics, advisors can create events that deliver value to current clients, entice prospects and generate buzz about their expertise, especially if they leverage the right centers of influence.
