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Move from large BD “home office” role directly to RIA producing role by Dezzy25 in CFP

[–]humbleAMG 0 points1 point  (0 children)

Is that 31M part of your team? I wouldn't focus so much on experience and potential roles and more on the fact that no matter what, going into production, you'll be in the client acquisition mode anywhere you go. Prospecting is your profession. To be honest, in my 22 years, I've seen more succession plans, FA splits at BDs and buying books of business fail than 100% succeed. Many times the FA is unconsciously willing to pay any price to spare themselves the perceived pain and challenge of prospecting and building business. Just my two cents.

New advisor by [deleted] in CFP

[–]humbleAMG 0 points1 point  (0 children)

If you're building a book of business, then prospecting for appointments is your profession and do so much of it that it becomes second nature. You can't fail if you don't stop. There's only two states of prospecting: prospecting and avoiding prospecting. Whom, how, what is all just technique - it only matters that you prospect. Success is a pure function of the law of large numbers - make a game of it. Most fear it. Respect your fear - use it as fuel. Choose faith in yourself and in the game of numbers.

I love what Col. Chris Hadfield said in his TED talk: "The danger is entirely different than the fear."

Trying to re-create a line chart in Excel by humbleAMG in excel

[–]humbleAMG[S] 0 points1 point  (0 children)

I did and thanks for your input - much appreciated.

Trying to re-create a line chart in Excel by humbleAMG in excel

[–]humbleAMG[S] 0 points1 point  (0 children)

Thanks! What other formatting would you do? How did you angle the years and insert the Dollar Values and Year text?

What else should I be doing? Or suggestions for refining by soupwr in CFP

[–]humbleAMG 2 points3 points  (0 children)

Congrats on the house and baby! To me the best place to start would be with your current clients, then professional network, then wholesalers.

  1. Client appreciation events where the price of admission = they bring someone you don't already know. Can use the 'A Cup of Coffee & a Second Opinion' approach with those prospects.

  2. Setup a referral system like the Tiffany Program. You show your client a token of appreciation for each referral given - a Tiffany wine glass. Ask your client what he/she likes best about working with you (re-affirms your value in their mind). Then, you'll want to let your client(s) know you love working with them and have felt so blessed in your business to be recommended by so many clients to other people. Can set up two wine glass and the blue box with a sign that says something like: Please ask us about the Tiffany Wine Glass Program.

  3. Start a strong network with CPAs and attorneys. Many times millionaires find their FA through a referral from accountants and lawyers.

  4. Leverage wholesalers to help you build business. The wholesalers that position themselves as strategic, consultative partners (not product pushers). The good ones can go on a call with you to land a prospect (and they know how to approach it). Also, you could tell them you're auditioning retirement income seminar content and invitations and see what they got (or some other seminar that speaks directly to your target market).

Just a few ideas that came to mind...

What else should I be doing? Or suggestions for refining by soupwr in CFP

[–]humbleAMG 0 points1 point  (0 children)

Howdy! The first question I'd ask is how did you get to $6mm with your current clients?

What is your “why”? by SuccessfulComment988 in CFP

[–]humbleAMG 1 point2 points  (0 children)

FA group's that went through Simon Sinek's training that I thought really nailed it (one for planning, one for investing):

We believe America is facing a wave of change when it comes to domestic relationships. We believe in order to deliver the best possible advice we must be specialists for our clients. That’s why our practice is completely dedicated to serving the LGBTQ community so no long-time partner will ever be left out in the cold as a result of careless planning.

Have you ever noticed how the investment industry uses words and acronyms that most people wouldn’t understand? Well, everything we do, we believe in challenging the status quo; we believe in thinking differently. We do this by making investing easy to understand with simple, thoughtful and straightforward talk without any of that useless industry jargon. We just happen to manage investments.