Handbooks for the Professional Financial Advisor

Building and nurturing a team will allow an advisor to expand services to existing clients and pursue more clients resulting in a bigger and happier clientele. Over her 33-year career as a financial advisor, Christine's team grew from sharing an assistant with 3 other advisors to a team of 6.5 plus herself. She believes her practice would have plateaued at about 20% of her final practice (revenue and assets under management) if she had been unwilling to build a team and delegate. Early in her career the team gave Christine the time to pursue new clients, as well as develop services and processes. Late in her career the team allowed Chris to work less and provided her with successors upon retirement. In this book Christine discusses: • Benefits of Team Building • Delegation and Supervision • Outsourcing • When to Add a Team Member • Hiring New Team Members • Training Team Members • Team Structure • Team Compensation • Motivating/Inspiring the Team • Team Meetings • Team Member Relationships • Team Member Turnover • Team Member Duties

The need to transition clients from one advisor to another advisor can be, triggered by many different circumstances. An advisor will make group referrals to a successor advisor when they are retiring, reducing their clientele or changing their business model. This handbook contains three interrelated topics: Part 1. Seeking Group Referrals from Another Advisor Part 2. Transitioning Your Clientele to Your Successor Part 3. The Retirement Exit Decision The key to a successful transition of clients is compatibility between the successor, the referring advisor and the clientele being, referred. I believe this compatibility is, more likely to be achieved, when the successor and the referring advisor understand each other's positions and business models.

Develop and Articulate Your Unique Business Model Financial advisors in all stages of their careers can benefit from a well-defined business model... even those about to retire. An advisor's deeper understanding of their own practice and who it serves best, will lead to sustainable relationships in a win-win business model. This book provides a checklist process to quickly articulate, develop and/or analyze an advisor's unique business/service model. It includes completed checklists based on the final years of Christine's practice as an example. She discusses household capacity of practices and many of the required decisions for various business model components. The handbook also provides an analytical tool and checklists to facilitate the segmentation of clientele. It discusses many choices and decisions relating to the following aspects of an advisors unique business model: Qualities of an advisor's most compatible sustainable clients Service models for: Client communication Investing Financial planning Tax strategies and returns Resources needed and suppliers How a practice charges clients Direct and indirect client costs Advisor compensation Advisor career paths Segmentation of clientele