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The abundance mindset for financial advisors in Asia - Advisor Practice Management


The abundance mindset for financial advisors in Asia

I had an incredible experience speaking at a financial advisor conference in Thailand to about 2000 financial advisors this month. The advisors were from several different countries in Asia including Japan, Hong Kong, China, Vietnam, Cambodia, Thailand, Singapore, Malaysia, Indonesia and the Philippines. My speech was interpreted to 7 or 8 different languages. The one thing that I learned from this experience is the financial advisors at the conference have an abundance mindset. They have an endless amount of possibilities for their future. Every change in the financial business is seen as an opportunity to grow more, faster and stronger.

Child-like curiosity

In one of my breakout sessions, financial advisors asked me several questions about practice management and how to grow their business. Questions such as “how they can build a scalable practice with teams.” They see exponential growth in the practice and have the abundance mindset with no limiting beliefs. Do you have limiting beliefs about your practice and how to manage growth? They took pictures of every slide I discussed, asked questions, wrote notes and asked for my contact information. Their thirst for learning was incredible to experience. When the conference doors opened, hundreds of financial advisors ran to the front of the room for a seat. I have spoken at several conferences, but have never seen that amount of enthusiasm before.

Incredible speakers incredible stories

There was a great line-up of speakers from around the world including Canada, Singapore, The United States, England and Australia. The messages of inspirational stories and achieving more as a financial advisor were inspiring. Listening to successful financial advisors and strategies that work for them, it became clear that practice management is about three things, process, process, process. The top financial advisors shared their proven processes, passion and unique experience to tell their story. But the most incredible story is the growth of advisors practices in Asia. There is a massive separation between the top financial advisors and the rest of the financial advisors, based on one thing. They clearly have an ideal client profile and they market in that segment successfully. In other words, they have found a way to successfully target wealthy ideal clients and have a clear process to acquire these ideal clients. In other words, when the process works for them, it works really well. Do you have an ideal client profile? If you do, can you write it down in one sentence?


If you got a dream, you got to protect it. If you want it, go get it. Period” Will Smith as Christopher Gardner from the movie “The Pursuit of Happyness” 2006, Columbia Pictures Corporation. We all have goals. But do your goals come with limiting beliefs? I believe in helping people set and accomplish goals. I have always been a big believer of setting goals. Goals based financial planning and advice can make a difference in the world. One of my long-term personal goals was to speak to an audience of 1000 or more financial advisors. I knew that if I spoke often, I would be able to get in front of an audience of 1000 or more advisors. While I was National Director of Practice Management for Manulife, I accomplished that goal. I spoke across the country and had over 1000 advisors, over the course of one year, attend our future-ready workshops. I reached one of my goals. Speaking to 2000 financial professionals at one time in Thailand!
Interpreting practice management processes in different countries around the world
I spoke about how to acquire more ideal clients. The topic is about practice management processes. How many proven processes do you have to acquire more ideal clients? The top advisors at the conference I spoke at, clearly have proven processes to acquire ideal clients and are earning between one and six million dollars per year. It is about proven processes that work. One hint I took away at the conference was the best market for them was successful entrepreneurs and successful business owners. These people achieved success in real estate or business and advisors used strategic networking and favorable introductions, two processes to find and acquire their ideal clients. How do you find and acquire your best clients? if you look at your top 10-20 clients, you met them through an event. How many events do you have planned this month, or this year to meet ideal people?


Marketing and client acquisition

I spoke about “Guerrilla Marketing for Financial Advisors” 2nd edition, my newest book published in 2016, which is investing time, energy and innovation into growing your business. It was about four processes which include favorable introduction process, center of influence process, strategic networking process and key marketing processes all tied together by technology. It starts by planning the time to work on building your ideal client acquisition processes. It is not done in an hour. It takes time, practice and successful implementation. I encourage all advisors to work 2-4 hours per week on your ideal client acquisition processes, to perfect and master your process, script and conversation with potential ideal clients. Do you have a script that you use for these processes? The most successful advisors have a proven script as part of their process.

One key idea

My takeaway goal for financial advisors during my presentations was simple. Implement one process into your business in 2017, and you will see results. Invest the time 2-4 hours per week ( book it in your calendar to implement) energy ( test the idea with existing clients and prospects and have a proven script) and innovation ( The best way to predict the future is to create it, Peter Drucker, Drucker Institute of management) I asked my audience to go and implement these processes and innovate their businesses. Innovation is doing something they have never done before. “Failure is the most effective technique to optimize strategic planning, implementation, and process.” Thomas Edison
I had an amazing experience in Asia, and the impact my book on practice management can make in Asia to financial advisors. “ Guerrilla Marketing For Financial Advisors “ 2nd Edition, Morgan James Publishing 2016. Most importantly, influencing financial advisors on practice management processes in Asia that can help more people get financial advice towards their goals.

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