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A Daily Reading Plan That Attracts New Clients
by Dan Richards, 10/2/12
Digesting news and sharing it with clients is part of every advisor's daily routine. Doing that efficiently, however, in such a way as to better position yourself with your clients, requires a structured approach that is far from obvious.

The Best Question to Engage Affluent Prospects
by Dan Richards, 9/25/12
There are no magic solutions when it comes to getting affluent prospects to meet with you. But your chances of success go up significantly by tapping into high-value concerns and positioning yourself as an advisor who can help address those issues.

The Question that Prevents Client Defections
by Dan Richards, 9/18/12
Unless you take action, even the best advisors are going to lose more clients than you'd like. Fortunately, you can ask your clients a simple question that will counteract the dynamics causing those defections.

Ten Ways to Recapture Your Passion This Fall
by Dan Richards, 9/11/12
Think for a moment what it would take to hit the ground running truly excited about your business. If you struggle to figure out the formula to reach that goal, try these 10 strategies.

Lessons from the Weight-Loss Industry: The Keys to Growing your Practice
by Dan Richards, 9/4/12
Why do most attempts at dieting result in failure? According to Weight Watchers - whose program has outperformed its competition over many years - it's because of a lack of a good methodology or the right combination of discipline and incentives. The same is true of successful client prospecting, as a recent conversation with an advisor illustrated.

The Wrong Way to Ask for Referrals
by Dan Richards, 8/28/12
There's no shortage of ideas about how advisors should operate - which means you have to be discerning about whose guidance you take. Recently, though, I disagreed with some advice from a top practice-management expert on the topic of referrals.

Is Too Much Vacation Bad for Your Business?
by Dan Richards, 8/21/12
Advisors face two big traps when it comes to vacations. The one that gets the most attention is not taking enough time off and burning out as a result; this is especially common in the early years of building a business. But there's a second, more subtle trap: Taking so much vacation that you compromise your ability to grow your business.

How One Advisor Adds Three Clients a Month
by Dan Richards, 8/14/12
I've had several emails in response to last week's article on how investors are using LinkedIn to help select advisors. Indeed, one advisor told me of a systematic approach that is consistently yielding new business. Let's look at how this advisor is capitalizing on his online presence to attract an average of three new clients per month.

The Game-Changer for Attracting Affluent Clients
by Dan Richards, 8/7/12
Until now I've been a skeptic on the value of social media for attracting affluent clients. You can use Facebook and Twitter to connect with investors in their 20's and 30's - but not the older, more prosperous clients advisors target. But last week, three separate conversations changed my mind on this.

A Lesson from the World's Best Restaurant
by Dan Richards, 7/31/12
Spain's El Bulli was considered the world's best restaurant, once receiving two million requests in a single day for reservations. A very successful business owner procured one such reservation - and told me of an important lesson for advisors.

How to Tell If You're Not Charging Enough
by Dan Richards, 7/24/12
Delivering strong value is only half the equation when it comes to optimizing the profitability in the business you run - the other half relates to charging a fair price for that value. Here's a simple test to determine if you're not charging enough.

The Information Sources that Impress Clients
by Dan Richards, 7/17/12
Sending clients a regular email with a link to an article or video from a credible source has a consistently positive impact. Not only does this keep you top-of-mind, but it reminds clients of the ongoing reading and research you're doing on their behalf. But it works only if you use a source that enhances your credibility.

A Mid-Year Client Letter: Wisdom from Three Wall Street Veterans
by Dan Richards, 7/10/12
Here is a template for a letter to serve as a starting point for advisors looking to send clients an overview of the past 90 days and the outlook for the period ahead.

The Behavior that Destroys Client Confidence
by Dan Richards, 7/3/12
A highly successful business owner recently told me what he thought about his financial advisor. On balance, he's happy with the job his advisor is doing, except for one small thing.

Ensuring That Clients Feel Valued
by Dan Richards, 6/26/12
Ask advisors whether they value their clients - especially top clients - and care about their future success, and you'll get a funny look wondering what you've been smoking. The answer is so obvious that the question isn't worth asking. But ask clients the corresponding question and the response is often quite different.

How to Follow Up Without Being a Pest
by Dan Richards, 6/19/12
How do you value your business? We all know the obvious candidates: assets, income, recurring revenue, client loyalty or the extent to which you've built a strong team. But a recent discussion with some top-performing advisors illuminated one metric that is absolutely critical - and typically overlooked.

A Proven Strategy to Attract Multi-million Dollar Clients
by Dan Richards, 6/12/12
When it comes to attracting new clients, new and different approaches are critical. While some advisors are experimenting with social media to grow their business, a recent conversation reminded me that advisors can still learn from longstanding, proven approaches that have been employed by advisors with elite clients.

What Mark Zuckerberg Can (Still) Teach You
by Dan Richards, 6/5/12
As CEO, Mark Zuckerberg did many things right. But one particular aspect of his approach was critical to Facebook's success - and advisors can learn from it.

The Father of Efficient Markets: Is Warren Buffett Smart or Lucky? (Video)
by Dan Richards, 6/5/12
Eugene Fama is generally regarded the father of modern finance. His research has expanded upon the capital asset pricing model to identify the value and small-capitalization contributions to risk. Dan Richards spoke with him on May 1, the day before his guest talk at the CFA Institute annual meeting. This is the video of the interview.

The Father of Efficient Markets: Is Warren Buffett Smart or Lucky?
by Dan Richards, 6/5/12
Eugene Fama is generally regarded the father of modern finance. His research has expanded upon the capital asset pricing model to identify the value and small-capitalization contributions to risk. Dan Richards spoke with him on May 1, the day before his guest talk at the CFA Institute annual meeting. This is the transcript of the interview.

The Essential Ingredient for Exceptional Success
by Dan Richards, 5/29/12
Advisors often ask me what they have to do to truly excel. They expect an answer based on their value proposition, the prospective clients they focus on, how effectively they get in front of those prospects, or their discipline and work ethic. A talk I attended last fall provided a clear cut - and surprising - answer.

A 30-minute Investment that Landed Three New Clients
by Dan Richards, 5/22/12
On a recent flight to Chicago, I sat beside an advisor. We chatted about industry developments and the prospecting initiatives that advisors have been trying. Then he shared a story of a remarkable return from 30 minutes of his time.

The Surprising Way to Deepen Client Relationships
by Dan Richards, 5/15/12
Among the countless ways advisors have attempted to increase client loyalty, I've found a simple approach that deepens relationships.

Three Qualities that Define Top Performers
by Dan Richards, 5/8/12
Regardless of market conditions or the business environment, some advisors inevitably expand their business at the expense of their peers. A new research report identified three common traits among those who were able to show sustained growth in their practices.

A Proven Route to Business Breakthroughs
by Dan Richards, 5/1/12
Having ambitious goals is one thing - translating them into reality is another. And that's where most advisors stumble. Two recent articles provide insight on how to achieve progress towards lofty goals.

The Number One Priority for Advisors
by Dan Richards, 4/24/12
What's the single most critical need for advisors to succeed? There are lots of candidates ? investment knowledge, communication skills, the ability to sell, and attracting and motivating a strong team.

Two Words to Get in Front of Prospects
by Dan Richards, 4/17/12
Even advisors who are successful in every aspect of their business struggle when it comes to getting meetings with prospects. The key is to understand how prospective clients look at requests for action - and to frame anything you ask with two words in mind.

Three Lessons from an Unlikely Superstar
by Dan Richards, 4/10/12
Jeremy Lin's story is not about the failure by NBA teams to recognize his potential; rather it's about three key traits that enabled Lin to elevate his play far beyond what anyone in the basketball world expected. And those traits apply to advisors just as much as they do to NBA stars.

A Q1 Letter to Clients: Bernanke, Buffett and Siegel on the Prospects Ahead
by Dan Richards, 4/3/12
Here is a template for a letter to serve as a starting point for advisors looking to send clients a summary of what's happened in the past 90 days and the outlook for the period ahead.

Reigniting Your Passion for the Business
by Dan Richards, 4/3/12
Successful advisors consistently tell me they've lost enthusiasm and passion for their work compared to 10 or 15 years ago. Advisors have two choices when this happens - either accept it as a sad reality or put in place strategies to rekindle the fire that burned earlier in their career.

The Secret to Motivating your Team
by Dan Richards, 3/27/12
Many advisors struggle with staff members who regularly fall short in terms of work ethic, attention to detail or ownership of outcomes. Getting the most out of your team is essential, and a new book illuminates an effective way to build motivation in your organization.

Hot Buttons that Motivate Prospects
by Dan Richards, 3/20/12
If you spend $12,000 to promote an event for prospects, you should expect results. That didn't happen for an advisor whose recent prospecting events failed. Here's how he could have created a successful event - by focusing on the hot buttons that motivate prospects.

Breakthrough Success Lies Outside your Comfort Zone
by Dan Richards, 3/13/12
Standout success is rare in every industry, including ours. That is the reality - by definition most companies are average performers. To achieve breakthrough results, you need to be willing to change your business model, as two top business strategists advocate.

Five Business Tips from a Top Entrepreneur
by Dan Richards, 3/6/12
Financial advisors are classic entrepreneurs, typically starting a business from scratch with the goal of achieving financial security for themselves and their families. That's why lessons from entrepreneurs with a pattern of demonstrated success ? even outside the financial industry ? are tremendously helpful.

A Simple Strategy to Triple Client Savings Rates
by Dan Richards, 2/28/12
Whether dieting, exercising, turning off American Idol to read that book on our side table or spending versus saving, maintaining focus on our resolutions is a universal issue. While attending the American Economic Association meeting in early January, I had three conversations with leading academics concerning experiments to help people stick to their plans, including one that tripled savings rates among employees.

A Simple Email to Save a Client
by Dan Richards, 2/21/12
A recent conversation got me thinking. Losing a client is a painful experience -even more so when you realize that something as simple as an email could have avoided that outcome.

How to Measure Customer Loyalty
by Dan Richards, 2/14/12
Perhaps more than in any industry, advisors know the importance of customer loyalty and the role it plays in client retention and referral generation. But few advisors have ever tried to systematically measure the client loyalty in their practice. Here's a way to do that.

A Conversation that Tripled Referrals
by Dan Richards, 2/7/12
Last fall, a veteran advisor contacted his retired clients with the suggestion that they meet to discuss one simple goal - to lay out detailed monthly cash flow forecasts matching funds coming in with cash going out. Not only did this exercise benefit those clients, he was able to leverage his efforts to triple his referrals.

Barry Eichengreen on the End of the Dollar
by Dan Richards, 1/31/12
Barry Eichengreen is a professor of economics and political science at the University of California, Berkeley and a former senior advisor to the International Monetary Fund. In this interview, he discusses the future of the dollar as the reserve currency and the role of the IMF in the Eurozone crisis. This is the transcript of the interview.

A 13-Point Plan for Top Clients
by Dan Richards, 1/31/12
Time is our scarcest currency. We must be cautious about taking on significant new commitments, and the only exception is when there's absolutely clear cut evidence of a substantial return. That's why a simple way to get your top clients to look forward to your meetings is incredibly important.

Barry Eichengreen on the End of the Dollar - Video
by Dan Richards, 1/31/12
Barry Eichengreen is a professor of economics and political science at the University of California, Berkeley and a former senior advisor to the International Monetary Fund. In this interview, he discusses the future of the dollar as the reserve currency and the role of the IMF in the Eurozone crisis. This is the video of the interview.

A Five-Minute Strategy to Achieve Key Goals
by Dan Richards, 1/24/12
New research yields important insights on achieving change - whether it be losing weight or advancing your business. One surprise: A five-minute exercise dramatically raises the chances of hitting your goals.

Dale Mortensen on Addressing Unemployment
by Dan Richards, 1/24/12
Dale Mortensen is an economist, a professor at Northwestern University and a co-winner of the 2010 Nobel Prize in Economics. In this interview, he discusses the unemployment situation in the US. This is the transcript.

An Essential Client Conversation ?Will I be able to pay for my hip replacement at age 85??
by Dan Richards, 1/17/12
Advisors face a big challenge in planning for boomers. Your assumptions about how long they'll live and the nature and cost of their lifestyle as they age will dramatically impact your planning decisions. Conversations with boomers about those topics and about the implications of funding health care are difficult but important.

A Nobel Laureate?s View on the US - A Debt Problem, but an Unemployment Crisis - Video
by Dan Richards, 1/17/12
Peter Diamond is a professor emeritus at MIT and the winner of the 2010 Nobel Prize in Economics for his work on unemployment and labor market policy. In this interview, he discusses the degree to which US unemployment is a structural problem and whether it can be reduced through fiscal stimulus. This is the video of the interview.

A Nobel Laureate?s View on the US A Debt Problem, but an Unemployment Crisis
by Dan Richards, 1/17/12
Peter Diamond is a professor emeritus at MIT and the winner of the 2010 Nobel Prize in Economics for his work on unemployment and labor market policy. In this interview, he discusses the degree to which US unemployment is a structural problem and whether it can be reduced through fiscal stimulus. This is the transcript of the interview.

How an Advisor Doubled New Clients
by Dan Richards, 1/10/12
It's not always the bold strategic initiatives that pay dividends; rather, executing the little things makes a big difference. In the fall of 2010 I ran a workshop for advisors in which I discussed a regular focus on a short list of high priority prospects. An attendee described how he'd used this idea last year as the jumping off point to add 15 minutes to his Monday morning team meeting - and doubled the number of new clients.

Motivating Older Clients
by Dan Richards, 1/3/12
Two advisors recently reminded me of the subtle differences it takes to successfully work with older clients. Both provide the highest quality of advice and have regular client events to stay in front of their best clients. Two years ago, however, they were frustrated by the difficulty of getting older clients to attend those events - until each came up with a solution.

Dale Mortensen on Addressing Unemployment - Video
by Dan Richards, 1/3/12
Dale Mortensen is an economist, a professor at Northwestern University and a co-winner of the 2010 Nobel Prize in Economics. In this interview, he discusses the unemployment situation in the US. This is the video.

Seven Critical Words to Share with Top Clients
by Dan Richards, 12/27/11
Successful advisors focus on talking to their top clients. But even when advisors talk to clients frequently, one important sentiment and seven critical words often get missed.
Results 201–250 of 434 found.