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9780470930144

Ineffective Habits of Financial Advisors (and the Disciplines to Break Them) : A Framework for Avoiding the Mistakes Everyone Else Makes

by ;
  • ISBN13:

    9780470930144

  • ISBN10:

    0470930144

  • Format: eBook
  • Copyright: 2010-10-01
  • Publisher: Wiley
  • Purchase Benefits
List Price: $34.95
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Summary

A how to guide to avoiding the mistakes ineffective financial advisors most often makeBased on a 15-year consulting program that author Steve Moore has led for financial advisors, The 7 Not-So-Best Practices of Ineffective Financial Advisors (and the Disciplines to Break Them): A Framework for Avoiding the Mistakes Everyone Else Makes details proven techniques which allow advisors to transform their business into an elite practice: business analysis, strategic vision, exceptional client service, and acquiring high net worth clients. Told through the story of a purely fictional and completely average financial advisor, each chapter begins with an ineffective habit that is then countered with a discipline that improves business results and adds value. The book Details a step-by-step strategy for working through current clients, rather than relying on cold calling to form new relationships Includes anecdotes collected through both personal experience and stories relayed to him by clients and colleagues Provides question and answer segments, examples, and homework assignmentsThe 7 Not-So-Best Practices of Ineffective Financial Advisors shows you how to deliver exceptional service while generating higher revenue per client.

Table of Contents

Foreword
Introduction
Setting the Stage
Business Disciplines
The 7 Ineffective Habits and the Disciplines to Break Them
The Framework of the Book
Insights
Decisions
Actions
Acknowledgments
Stop Living Their Dream and Start Living Your Dream
The 1st Ineffective Habit: Living Their Dream
Insights
PURPOSE: The Primary Reason for the Work you do
Business Goals: Specific Objectives that Support your Purpose
Guiding Principles: The Rules that Guide Daily Decision Making
Vivid Description: A Narrative of the Business Success You Intend to Create
The Charle Young Story
Decisions
Determing Your Purpose
Determining Your Business Goals
Determining Your Guiding Prinicples
Determining a Vivid Description
Determing How You Plan to Keep the Dream Alive
Actions
Chapter Summary
Stop Focusing on Quantity of Clients and Start Focusing on Quality of Clients
The 2nd Ineffective Habit: Focusing on Quantity of Clients
Insights
Target Market
Service Focus
Competitive Differentiation
Decisions
The Common Sense Principle
Actions
Chapter Summary
Stop Hoarding Unprofitable Clients and Start Disengaging Unprofitable Clients
The 3rd Ineffective Habit: Hoarding Unprofitable Clients
Insights
Segment 1-The 20 to 40 Percent That Represents 1 Percent of Revenue
Segments 2 and 3-Others you are Considering for Disengagement
Decisions
Actions
Chapter Summary
Stop Hoarding Unprofitable Clients and Start Disengaging Unprofitable Clients
Stop Providing Only Investment Advice and Start Providing Wealth Management Advice
The 4th Ineffective Habit: Providing Only Investment Advice
Insights
Start Providing your Top 20 Percent with Wealth Management Advice
Step 5: Present the Wealth Management Solution-The Financial Vision Document and Client Engagement Roadmap
Decisions
Actions
Chapter Summary
Stop Delivering Only Investment Reviews and Start Delivering WOW Wealth Management Reviews
The 5th Ineffective Habit: Delivering Only Investment Reviews
Insights
Client Needs Analysis
Client Satisfaction Window
Building the WOW Review System
Decisions
WOW Wealth Management Review Package
Actions
Chapter Summary
Stop the Rainmaker Approach and Start the Team Approach
The 6th Ineffective Habit: The Rainmaker Approach
Insights
Team Core Competency Audit
Team Development Evaluation
Team Alignment and Empowerment Evaluation
Internal Challenges
The Organizational Structure of the Team Approach
Role Clarity
Managing the Team Approach
Coaching the Team
The Acquisition of Talent
Team Incentive Compensation
Create a Best-of-Kind Team of Experts and Suppliers
Decisions
Actions
Chapter Summary
Stop Selling to Prospects and Start Selling Through Clients
The 7th Ineffective Habit: Selling to Prospects
Insights
Client Introductory Event
Center-of-Influence Marketing
Managing the Sales Pipeline
Qualify a Call-in Lead
Fact Finding, Planning, Solutions
Decisions
Actions
Chapter Summary
Jack's Awakening: An Elite Wealth Management Company
Bibliography
About the Authors
Index
Table of Contents provided by Publisher. All Rights Reserved.

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