Financial Advisors Ask “What Should I Focus On?”

financial advisor focus

Several times in the past week, I’ve had consultations with financial advisors who ask me “What should I focus on? What should I be doing?” as if I had the magic answer to everything. Well, I do have the answers. After coaching in the financial advisor space since 2004, I’ve seen it all! Good advisors who have too many clients. Talented advisors who don’t have enough clients. Advisors who want to earn more to provide a better life for their families.

Productivity or Prospecting?

So I usually have to ask, is this a question about productivity or is this a question about prospecting? We’re all busy running our business day to day. It pays to be productive and know the daily tasks you need to accomplish, not to mention having a model workweek as a process to follow.

If it’s a question about what you should be doing in order to be better at prospecting, that’s a different issue entirely (here’s a link to 39 Prospecting Ideas). Focusing on prospecting involves being very strategic in your approach. If you get to work and wonder, “What should I be doing? Do I pick up the phone? Who do I call? How do I get more clients through the front door?” then, it’s definitely about prospecting.

Do you have goals?

So I usually respond with “I don’t know where you should be focusing. What are your goals?” When you started the year, did you sit down and purposely create a strategic direction for the year? Because if you haven’t engaged in purposeful planning, then you are just clutching at straws.

Questions I may ask

  • What are your income goals?
  • What are your goals for new investable assets?
  • How many new ideal clients would you like to attract?
  • In the past year, where did your top five clients come from?
  • What is your close ratio and what do you want it to be?
  • What NEW prospecting strategies do you want to implement?
  • What does your business brand look like and how do you want to change it?

What should I focus on?

Once you become more strategic, you will get a better idea of what you should be focusing on. But even then, you may need help in accomplishing your goals. Not all financial advisors can do this on by their own volition. Even the most successful advisors you read about in Investment News or Registered Representative have worked with a coach because they realized that, “You don’t know what you don’t know.”

One of the benefits of working with me is that you are coached into having a renewed focus on your practice and achieving your goals using Business Coaching as your process.

If you want to know what you should be doing, contact me for a consultation. You have to start somewhere!


Mistakes Financial Advisors are Making with their Online Brand

Draw clients to youDo you exist? Are you real? If a prospective client were to try to learn more about you, what would they find? Are you surprised that you don’t get many referrals? Could it be that you’re making mistakes with your public information that negatively affects  your online brand?

When I work with financial advisors on their business development strategy, I am often surprised to find that they don’t check their standing on social media websites and the search engines.


Your prospective clients are doing anonymous research about you

These days, if you’re not on the Internet, you don’t really exist. Potential clients who have been referred to you and those using the Internet to search for an advisor want to do their research before they contact you. They are secret shoppers.

The Internet gives people the ability to avoid making a commitment until they are sure they’ve got the right financial advisor service provider! So if your

financial advisor brand is not prominent and favorably positioned, you are missing out on business and you may not even know it.


Have you ever Googled yourself? If not, do it now. Go to Google and type in your name + “financial advisor” + “your city/state.”

What do you find on page one? What you see listed on your social media profiles and your website, does it back up your value proposition? Is what you’re saying about yourself consistent across all public channels?

Social media and professional websites provide the opportunity to check someone out anonymously without having to speak to them. Most people, if they like what they see, will initiate contact. But if what they learn is confusing, off-putting, or just plain average, you may never hear from them.


Do you have an online presence?

Recently a client told me a story about how an estate-planning attorney referred him a potential client. Since my client did not have a website and poo-pooed LinkedIn, there was no information about him on the Internet. As a result, the potential client asked to be referred to another advisor. Can you spell LOST OPPORTUNITY?

What kind of message are you giving off about the work you do and who you work with? Are you confusing people?


Have you updated your LinkedIn profile recently?

Just last week I spoke with an advisor who had relocated to Florida three years ago but had never updated her LinkedIn profile. To make matters worse, her profile listed a previous profession as her current work history. How’s that for confusing???

The biggest problem with online branding is that you WILL NEVER KNOW that you are making these mistakes because no one will contact you to tell you! The secret shoppers will move on to find someone else, so you will never know that you’re giving off the wrong message.


Biggest mistakes you could be making with your online brand

  • No website
  • Poorly designed or template website
  • No LinkedIn profile
  • Unflattering LinkedIn profile
  • Unprofessional headshot
  • No evidence of what the advisor believes
  • No target market
  • No specialization

If any of these mistakes apply to you, take the time to address your online brand and bring it into alignment with current norms and trends. The best way to attract clients in today’s new marketing reality is to ensure your online brand paints you in a positive light. Don’t lose out on an opportunity. Make sure your brand is consistent across all media channels.


Need help with your online brand? Contact me for a consultation!

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