BLOG

By Bill Bachrach CSP www.billbachrach.com

There are 2 relationship bridges to cross with most of your clients that you may not even realize exist. On this side of the first bridge you have clients who like and trust you enough to do some of their business with you. This may be quite a bit of business generating good money to serve these clients. On the other side of the bridge, however, is a relationship with those same clients where they trust you so much that they give you all of their business. In other words, they consolidate all of their assets with you and take action on all of your advice about everything they need to do to achieve their financial goals. That could be increasing their insurance coverage, buying an annuity, doing t...

Read more

By Bill Bachrach www.billbachrach.com

The experts on achieving goals say the first, and a very important step, to achieve a goal is deciding to. My hope is that this article points out some opportunities for you to make more money and serve your clients at a higher level and that you decide to do something about it.

The 5 ways FAs leave money on the table are:
1. Not charging a fee, or charging too small of a fee, for up-front planning and advice work.
2. Not consolidating your client’s assets.
3. Unimplemented advice.
4. Referrals.
5. Wasting time.

1. Not charging a fee, or charging too small of a fee, for up-front planning and advice work.

If I had a nickel for every time I’ve heard an FA say, “I do the planning for free in ...

Read more

True or False: Most Advisors work too many hours for too little money for too many of the wrong clients.

Based on the responses from the polls we have been conducting indicate that this is TRUE:

• 93% of Advisors said they need or want to make more money,
• 83% said they want to work fewer hours per week and take more REAL vacation every year, and
• 98% said they would like to have a smaller total number of clients who each pay them more.

What about you?
Chances are very high that your current approach to client acquisition practically guarantees that you will work too many hours, for too little money, and for too many of the wrong clients.

Ironically, most Advisors want exactly the opposite: more money, less hours, and more of t...

Read more

By Bill Bachrach

There are critical conversations necessary to engage people in ways that predictably turn leads into prospects, prospects into clients, clients into people who take action on your advice, happily pay you for planning and advice, and refer you to their friends, family, and colleagues.

These conversations are easy to understand but hard to master. Many FAs have a basic level of ability with these conversations, but this article is about elevating from basic ability to virtuoso skillfulness. Consider what could happen to the quality of your client service and the value of your business when you can artfully engage anyone, any time, and anywhere.Critical Conversation #1: Mastery of the first conversation.

Every future Ideal Cli...

Read more

Join co-author of Guerrilla Marketing for Financial Advisors, Grant Hicks, on February 6th at 1:00 ET and learn how to start implementing easy-to-learn strategies to find and acquire more clients now!

Find out how to implement these strategies with…

Clients
Prospects
Centers of influence
Grant will also share examples of the process that the best advisors have gone through to acquire their ideal clients.

Learn how to implement immediately after the webinar, giving you the confidence to reach your goals in 2018!

http://insurancewebx.com/co-author-of-guerrilla-marketing-for-financial-advisorsshares-strategies-on-how-to-acquire-ideal-clients/

Every wealthy client usually has a financial advisor. But do these wealthy ( potentially ideal prospects) get comprehensive advice and planning, or just money management. We all know that some of the wealthy are lacking planning and advice, the problem is, they don't know it. Until now. in my workshops with financial advisors, it seems every advisor has a tremendous opportunity to acquire more wealthy clients from their competition. That is because when I ask most advisors these five questions, rarely is anyone doing all five things with their ideal clients.

The five questions to ask a wealthy prospect are:

Organized and planned -Would it be valuable to have your financial life completely organized and planned out in the following six area...

Read more

Do investors understand the total cost of investing and advice? Consider completing a fee audit on a prospects portfolio and financial plan. Do a 12-month fee summary of both dollars and percentages of what a prospect is currently paying their financial advisor and financial institution. This is the total fees for advice and investment management combined. Then, Over the last five years, look at the total amount of fees they paid and look at the tangible (dollar gains, tax planning gains, estate planning gains, advice gains) benefits they received. Then list the intangible benefits they received, such as peace of mind, comfort, simplicity, and trust. This can be part of your detailed process to outline your measurable and immeasurable cl...

Read more

Hello and Happy New Year to you. I want to ask you a question. What is the number one thing holding you back from accomplishing more this year? What one thing, if tackled, would produce great results? You guessed it, get out of your own way! I always use the example of a person walking towards a mirror, and saying” why doesn’t that person get out of my way?” The hardest thing to understand is yourself. The hardest item to work on to improve your business is you. In 2018, what is the number one thing that you want to accomplish? Is it getting more ideal clients, upgrading existing clients, service, and revenues, or managing capacity and demands of running a busy advisory practice? The only thing that is holding you back,...

Read more

Guest Contributer: Bill Bachrach, CSP, CPAE

temp-post-image
Read more

Guest Contributer: Bill Bachrach, CSP, CPAE

Wouldn’t it be great if your clients told you exactly how much they trust you? What would you do with that information? How would it help you help your clients? Would they be more likely to follow your advice? How would that impact their success and yours?

I believe your clients are telling you how much they trust you with the most effective and predictable communication method that exists: behavior. Ralph Waldo Emerson’s famous quote applies here, “What you do speaks so loudly that I cannot hear what you say.” What your clients do, or do not do, is speaking loudly about trust. Are you listening?

temp-post-image
Read more