Introductions are light years better than referrals; however, most advisors don't know how to duplicate the clients that are likely to make those introductions! It’s crucial that you must first uncover and quantify them. Total Customer Value (TCV) = 1 Yr Revenue |  3 Yr Revenue  |  5 Yr Revenue Total Maven Value (TMV) = TCV + TCV of those they've introduced. Identify Your BEST Customers & BEST Identify the Demographics & Psychographics of Mavens. Target them for duplication via introductions. Consider subscribing for continued insights from Advisor Advancement: https ..read more

We're about to have a "Family Moment"… This is when we have a tough-love conversation about the fact that things will never be the same again -- And that it's not a "bad thing" if you embrace and capitalize on the change. In fact, we are seeing a major “COVID bounce” that spans across multiple business sectors! Today, your business should be hitting new high-water marks. Retooling for a New World. USAF is a Mirror-Reflection of Financial Advisors. I know this because we are simply an aggregate mirror-image of the advisors who are affiliated with us, and WE are hitting new high-water marks ..read more

Baby Boomer retirements DOUBLED in year 2020 over what took place in 2019! Oct. 25, 2021, Investment News: Early Retirement surging as a result of Covid, research finds. An estimated 5.25 million people who left the workforce during the Covid-19 pandemic and of that, 3 million (which is over 57%) appear to have retired earlier than they planned to. Baby boomer retirement shot up in 2020, with 3.2M boomers retiring, more than double the rate of 1.5M seen in 2019. Articles referenced from Investment News and Pew Research: - https://www.investmentnews.com/covid-early-retirement-rearch-213183 - ht ..read more

The Time-Lag Property and Loss (P&L) statement is the only real-life financial view of your business.  Understanding it can drive strategy and solve many, many problems in running your practice.  P&L statements are a vertical snapshot frozen in time. The balance sheet or net worth statement is also a snapshot. Revenue and Expense seldom start and end in the same month. Expense = Investment in future revenue. Time delay (Seminar example). Consider subscribing for continued insights from Advisor Advancement: https://www.youtube.com/AdvisorAdvancement https://advisoradvancemen ..read more

Overlapping the areas that matter with the areas that can be controlled is a recipe for a successful business model…but then overlapping your passions as the third dimension, that is what can build a dynasty! Consider subscribing for continued insights from Advisor Advancement: https://www.youtube.com/AdvisorAdvancement https://advisoradvancement.com/ For more of The RARE Advisor: http://www.therareadvisor.com The RARE Advisor is a business model supercharged by Recurring And Repeatable Events. With more than thirty years of working with and coaching successful advisors, host Mike Walters (alo ..read more

Achieving your ideal practice requires you to be a contrarian.  You will never get there following the mainstream down the path of products, pricing, and performance.  But you can get there through Process and Platform Partnership. Understanding What Matters & What Can be Controlled. Working too many hours? Inconsistent revenue streams? Do you live and die on prospect flow? Do you run endless seminar events? Staff turnover? Chained to your desk? Unable to regularly duplicate your best clients? THIS ALL MATTERS & CAN ALL BE CONTROLLED What WILL NOT help any of this is Prod ..read more

There is one overarching directive that elite advisors realize consciously or unconsciously. The things that matter most and are also controllable.    When you first launch and are still small, TIME is your cheapest commodity. But when you have reached a level of success or are growing rapidly, TIME becomes your most valuable resource. The space where Things that Matter overlaps with Things you can Control… This is What you should Focus on.  Keeping your focus on what matters and is controllable is where your time is best well spent. Consider subscribing for continued ins ..read more

The single question that outperforms every customer survey, customer satisfaction score and quality assessment tool -- plus uncovers your best customers for introductions. The net promoter score is the single best gauge for your marketplace success. "How likely is it that you would recommend INSERT COMPANY NAME HERE to a friend or colleague?" Overall potential scoring range of -100 thru +100. Scale of 0-10. Promoters = 9-10 Passives = 7-8 Detractors = 0-6 Score = %Promoters - %Detractors (use visual). Consider subscribing for continued insights from Advisor Advancement: https://www.youtube.c ..read more

The disservice of products, price and performance has been undermining the financial services industry since the beginning of time -- and it continues to be true today! Here's how you rise above: The Advisor vs. the Salespest How do your best clients describe you? How do your best clients describe stockbrokers and insurance agents? It's all they have to sell It's all the know how to sell. Live by the sword, die by the sword. Products, Price and Performance are the crutch of the salespest -- and of the wholesaler Themselves and their expertise. Their philosophy Their Planning Strategy ..read more

Understanding and applying the Cost-Credibility Matrix will keep both your time and your money focused on promotional opportunities that you can control and that matter most. High Cost + Low Credibility = Worst combo possible. (cringy billboards) Low Cost + Low Credibility = Next worst quadrant. High Cost+ High Credibility = Most controlled quadrant of value. Low Cost + High Credibility = the Holy Grail of Marketing and positioning. (buy your way hear thru quad 3) Consider subscribing for continued insights from Advisor Advancement: https://www.youtube.com/AdvisorAdvancement https://advisora ..read more