Jack Stack
is recognized as an outstanding business strategist. I have great respect for his work, and, not to take anything away from his accomplishments or The Great Game of Business, his secret is not as simple as having a great vision. 

It may be that he does not even excel at the “vision thing.” He managed to steer through a very challenging period and spin off 63 other successful companies by focusing on his company's biggest vulnerability.
 
As his firm gradually reduced the threat, he turned his attention to the next biggest threat. Systematically mitigating or eliminating one big threat after another made him one of the most successful leaders in business.
 
Successful advisors provide clients valuable guidance and services beyond investment returns. If the advice you offer does not go much beyond portfolio performance, it needs to now.
 
You cannot control the direction of the market, and it would be foolish to leave the future of your practice to the fickle direction of stocks. Besides, if your primary value is investment returns, how will you distinguish yourself from the thousands of advisors who say they do exactly the same thing?
 
Study after study has shown that when clients are asked, “What is the most valuable thing your advisor brings to the relationship?” the answer is never “earns good returns on investments.”
 
Like good customer service and trust, it is assumed you will manage their portfolio competently. What clients value, remember you for, and ultimately receommend you to their friends for, is something more. Find out what that is, and build your strategic plan around it.
 
Refine your value proposition and build on what keeps your best clients with you. Learn new skills that enhance what differentiates you from other advisors and strengthens your real value to clients. And do it before another market downturn jeopardizes your relationships! 

 

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