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What Makes a Compelling Marketing Hook?
by Beverly Flaxington, 7/29/14
How do we improve our image in the market? We are not well known for what we do, although we believe we do it better than the competitors. We talk about being fiduciaries and having an objective voice, but I don't know if our message is powerful enough. What else could we do?

Jumping into the Fray with Divorcing Clients
by Beverly Flaxington, 7/22/14
When is it appropriate to recuse ourselves from a nasty divorce situation between existing clients? We are in a losing place if we take sides, and I do not prefer one member of the couple over the other. I enjoy both and what they are doing to each other - and to their investment portfolio - is atrocious.

How To Make Better Hires
by Beverly Flaxington, 7/15/14
We just fired our fourth operations manager in six years. I find it tough to believe that filling a simple role like this can be so hard, but we've had no luck in keeping someone for the long haul. My partner thinks we need to hire an expensive recruiter. I don't agree. Can paying someone 30% of the salary plus bonus (the recruiter's fee) to identify the right person make a difference?

Dealing with Employees Who Are All Ideas but No Action
by Beverly Flaxington, 7/7/14
I run a training group in a large company. One of my key employees frustrates me. He is an "idea guy" but not an implementer. I like his ideas and am supportive, but I need to see action to know they are working. How do I rein someone is who is a big thinker but not a big doer?

Fielding Complaints About Fees
by Beverly Flaxington, 7/1/14
We are telling clients who are closing in on retirement to keep a significant percentage in cash. One client asked us what he was paying us for if we recommend "the bank or the mattress." How do we respond to something like this?

Coping With an Erratic Boss
by Beverly Flaxington, 6/24/14
We are all tired of the erratic behavior of the lead advisor in our firm. One day he is perfectly fine, then the next he is yelling in the hallways over some perceived infraction. I never know what is coming next. Can you suggest strategies that would better enable us to work with Doug?

When Delegating Leads to More Stress
by Beverly Flaxington, 6/17/14
I have been trying to delegate more of human-resources responsibilities to my operations manager. However, my operations manager has made two poor hires in the last six months. I can't delegate if I can't ensure that things are done well. I'm inclined to take back these responsibilities unless you tell me otherwise.

Is it Right to Bash a Previous Firm?
by Beverly Flaxington, 6/10/14
My partner and I left our previous firm to start an independent advisory practice. We had issues with its business approaches and even some ethical concerns. Part of me thinks we should let our clients know of the firm's nefarious ways, but part of me thinks that is behind us and we should look forward.

Coaching Employees toward More Effective Behaviors
by Beverly Flaxington, 6/3/14
One of my advisors is brusque and cuts clients off in mid-sentence sometimes. She doesn't follow my protocols. I am not ready to fire her. What else can I do to get her to model my behavior?

Selling Tips for Un-Sales-y Advisors
by Beverly Flaxington, 5/27/14
Can someone who isn't comfortable being sales-y learn how to be a salesperson?

Managing Meeting Mania
by Beverly Flaxington, 5/20/14
When I look at my calendar and try to figure out why I am so unproductive, I realize how much time I spend going from meeting to meeting. Sometimes they don't even have anything to do with my work! Is there a graceful way to say "Thanks, but no thanks" to a meeting invite?

When a Colleague Just Isnt Listening
by Beverly Flaxington, 5/13/14
One of our more senior financial advisors struggles with communication. He knows what he wants to say, but he doesnt convey his ideas in a clear and thoughtful way. He just doesnt listen well and thats why his responses are not strong and clear. Is it possible to teach listening skills?

Networking with Centers-of-Influence
by Beverly Flaxington, 5/6/14
I have worked with the same accountant on behalf of one of my clients for years, but the accountant and I have never had a non-client related conversation about our business. How should I approach the accountant to ask for additional business?

How to Rethink Your Market Niche
by Beverly Flaxington, 4/29/14
I work with 30-year-old entrepreneurs, 60-year-old dentists, divorced women and others. If I limit myself, I will leave opportunities on the table all the time. Am I wrong to be diverse in what I do?

The Power of Storytelling
by Beverly Flaxington, 4/22/14
I’ve read in the past that you encourage telling stories about clients. There are lots of compliance reasons that deter us from getting too specific when telling a client-based story. In addition, I don’t see how stories are of importance. Can you clarify?

A Women’s Viewpoint of Bullying
by Beverly Flaxington, 4/15/14
I was once asked by a major periodical to comment on research that showed an inordinate percentage of women who get to senior-level positions in investment firms end up voluntarily leaving to start their own business or to enter new industries. The "brain drain" of women from investment advising has been significant. I thought about this brain drain when I received another letter on the issue of bullying, this time from a woman.

How to Get Chatty Clients off the Phone
by Beverly Flaxington, 4/8/14
My clients are very happy - I know because they call me with every little question and I respond. Some just call to talk about Obamacare or the market trends. Its not that I dont enjoy the conversations, but it gets very difficult to plan my day with this much chatting.

More on Bullying - Because it is Everywhere!
by Beverly Flaxington, 4/1/14
I received a response to last weeks column, in which I gave advice to someone who was being bullied, that pointed out some areas in which I missed the mark. The writer said I did not address taking a "direct approach" to dealing with the bully.

Yes, Even Advisors Get Bullied!
by Beverly Flaxington, 3/25/14
I am a financial advisor who is being bullied in my office. I cannot sleep, have constant anxiety and feel like I am working under war-like conditions. I have tried everything to shore up my confidence, but I cant stop the onslaught of vitriol that comes at me every day.

Should You Say "No" to a Prospect?
by Beverly Flaxington, 3/18/14
We are unsure of the best follow-up approach for prospects who don’t seem ready to move their money to our firm after five meetings. Do we give up? Do we keep following up on the assumption that they would not go to that many meetings unless they are interested in eventually working with us?

Sales Tips to Increase Close Rates
by Beverly Flaxington, 3/11/14
The problem we are having is closing. For every five prospects that come through the door, we only close the deal with one.

Overcoming Bad Performance
by Beverly Flaxington, 3/4/14
Our investment strategy did not fare well last year and we lost ground to competitors. Were on the defensive with clients, which makes it hard to have any growth discussions. We have corrected our approach and are on track for much better performance for 2014. Any tips to get our clients to believe in us and stay with us until the turnaround?

Why Bother with a Target Market?
by Beverly Flaxington, 2/25/14
What is the purpose of a target market? I find the concept limiting. We work well with young professionals in their 40s and retirees in their 70s. We have clients that are couples, families and successful singles. I am hesitant to limit our approach to a certain group.

Tips for an Effective Study Group
by Beverly Flaxington, 2/18/14
I have been talking with a couple of advisor friends about developing an informal discussion group. We would share ideas and updates, but not secrets about the inner workings of our firms. Do you have any advice to make our sessions meaningful and practical?

Dealing with Bad PR
by Beverly Flaxington, 2/11/14
One of our advisors quit under difficult circumstances. He talked to some local reporters afterward, and now we look like a terrible place to work. His actions have damaged our reputation. We did not do anything wrong. This advisor was a misfit from the start. What can we do to minimize the ongoing problems his departure is causing us?

A New Boss Who Undervalues the Firm’s Story
by Beverly Flaxington, 2/4/14
My boss was recently hired. She has been successful on the asset-management side of the business but not in wealth management. Her entire focus is on the investment process and the investment philosophy. Our clients hire us - and stay - because of an overall relationship. I am beginning to think she does not understand wealth management, so she stays away from talking about anything other than investments. Is there a way I can teach her how to value all of what we do?

When the Boss Makes Bad Decisions
by Beverly Flaxington, 1/28/14
Our founder and current president is a control freak. No decisions can be made without his blessing. The problem is that he is semi-retired. He can be gone for two weeks out of the month sometimes. The business still has to run and we have to make decisions, but the last person who made an executive decision in Joes absence was fired. Is there a way we could conduct an intervention?

Young Talent That Comes -- And Goes
by Beverly Flaxington, 1/21/14
We have struggled to find young talent to hire and groom for our firm. It seems everyone under 30 works somewhere for three years and then moves on to the next thing. One guy we hired had four serious jobs on his resume and hadnt turned 30 yet. If we cant get someone young to stay with us longer term, I am not going to introduce them to all of my clients.

Clients with Difficult Children
by Beverly Flaxington, 1/14/14
We have a client who wants us to work with his youngest son. This boy will sometimes tell me when I call him, "You could have just texted me!" How do we help him become more interested in the family’s wealth and planning?

Eight Tips to Manage Your Time Effectively in 2014
by Beverly Flaxington, 1/7/14
In honor of the New Year, this week’s column is devoted to addressing a question I get asked often: How do I manage my time most effectively? Most financial advisors are busier than ever but feeling as though they get less and less done. Before you set those New Year’s resolutions for your practice, review this list of what to do - and not do - for success in 2014.

Organizing Principles for Disorganized Advisors
by Beverly Flaxington, 12/31/13
How do I deal with the people on my staff who are disorganized? I have a couple of people who get three days’ worth of work done in one day, but most of the team gets little accomplished each day and keeps screaming for resources.

Calming an Uptight Partner
by Beverly Flaxington, 12/24/13
My partner is always anxious and upset about something and everything is urgent. He is a good friend and I respect his intelligence, but he gives me heartburn. Are there strategies I could employ to get him to calm down?

Making Brand Communication Work for Your Firm
by Beverly Flaxington, 12/17/13
I have sat in on meetings with my staff while they talk to prospects and clients and they say things I would never say. Everyone has their own style but it is important that we say the same things. Is there a way to accomplish this through training?

Best Practices for an Effective Teambuilding Exercise
by Beverly Flaxington, 12/10/13
I want to hold a teambuilding session. I don’t like to take everyone away from client calls for the day. Should we have this on a weekend? Or stay late one night? Do I include everyone, from our receptionist to senior advisors?

How to Communicate Your Year-End Bonus Decisions
by Beverly Flaxington, 12/3/13
My staff is angling for strong bonuses this year. But I would like to invest some of the money into the firm. I dont think I owe my staff an explanation about what I am doing with the money, but I know they think I am taking it for myself and being unfair to them. Is there a proper way to communicate bonuses and profit for an advisory firm?

Making Vendor Relationships Work Effectively
by Beverly Flaxington, 11/26/13
We hired an outside contractor to do some marketing work for us. It has been a nightmare. She is difficult to deal with and criticizes every idea we have. Is there something we can do differently to avoid this situation in the future?

Some New Ideas for Holiday Gifts
by Beverly Flaxington, 11/19/13
Holidays are coming. What can we do to stand out from our competition in terms of gifts or events?

Finding - and Keeping - Top Talent
by Beverly Flaxington, 11/12/13
We just hired the fourth person to fill a junior role. The previous employee gave us notice after eight weeks! It is expensive, frustrating and moreover, we lose inertia every time we have to stop and train someone new. One of my senior advisors is convinced it is the newer generation; they just dont care. I dont believe thats true. Are we doing something wrong or is there really a dearth of good talent?

How to Help Clients Who Hate the Holidays
by Beverly Flaxington, 11/5/13
I deal with a number of clients who are very wealthy but are miserable around the holidays. Some are older and don’t have family members who see them, others are miserly and don’t feel they should use their money for gifts for people they don’t like. The conversation actually comes up with many of them every year, and I want to be prepared this year. Any ideas or tips?

Six Tips for Better Communication
by Beverly Flaxington, 10/29/13
As an industry, we lack communication and people skills. Here are six tips to complement your technical and financial abilities with communication skills.

Managing Old-School Advisors
by Beverly Flaxington, 10/22/13
One of our top advisors is still putting client notes into paper-based folders. Hes a senior guy who has an old-school work style. How can I make him understand he cant be singled out and treated differently?

Why You Need Video on Your Web Site
by Beverly Flaxington, 10/15/13
We are upgrading our website, which is used mostly for clients now. We want to attract more prospects. Ive been told that video is important, but the cost of adding this could be several thousand dollars per video. Will adding video give me an increased ROI? I dont believe in this busy world that anyone watches this stuff.

When Your Succession Plan Is Derailed
by Beverly Flaxington, 10/8/13
I hired a young guy in three years ago with the expectation I would give him ownership and have him eventually take over the business. I want to wind down and have been giving him a large percentage of my clients to manage. Lately he has been talking about moving back to where his wifes parents live. He said he isnt sure if this business is right for him. How do I get him to make a decision?

When Employees Can’t Get Along
by Beverly Flaxington, 10/1/13
We have two employees who do not like one another. I have talked with them to let them know how disruptive their behavior is. Should I fire one? Should I take sides? I’m a mother at home, but don’t feel like I need to be one in the office.

Dealing with Unmotivated Advisors
by Beverly Flaxington, 9/17/13
What do you do with unmotivated advisors? Most of the senior partners in my firm are wealthy and set for life. They are not inclined to go out of their comfort zone to find new business. How do I light a fire underneath them and get them motivated?

Why Isn’t Our Practice Growing?
by Beverly Flaxington, 9/10/13
Our advisory firm has not grown much over the last five years. Except for death and divorces, we haven’t lost clients. But we haven’t obtained new assets. We have been to conferences and heard other advisors speak about their explosive growth, but I am dubious. Are advisory firms really growing so significantly or are we experiencing what most advisors have been over the last few years?

Framing the Sales Component of the Advisory Profession
by Beverly Flaxington, 9/3/13
I am a relatively new financial advisor, coming to this profession as a second career. I’m finding I spend so much time on sales ? my firm is so focused on selling that even when I have a new client, I don’t have the chance to work with them the way I would like. How can I tactfully tell my employer that I came to this profession for the investment side, not for the sales side?

Five Tips for Managing Stress
by Beverly Flaxington, 8/27/13
What are your tips for managing stress? Financial advisory work has become increasingly stressful and neither I nor my staff do a good job of managing it.

How Much Communication is Too Much?
by Beverly Flaxington, 8/20/13
How much communication is too much? We meet with clients once per quarter and were surprised when one told us they didn’t need to see us so often. I think we need to stay in front of them.

Asking for Referrals when Your Performance is Lagging
by Beverly Flaxington, 8/13/13
My firm is very focused on client referrals right now. We are supposed to ask for them at client meetings. Our investment performance has not been great ? we are behind our benchmarks. I think it is wrong to tell clients we have underperformed and then ask who they know that they could refer. Do you agree we should wait until our performance improves?
Results 601–650 of 710 found.