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In this Issue:
Welcome
by John P. Napolitano
How Personal Marketing Can Land You Your Dream Clients
by
Peter Montoya
When's the Best Time to Ask for a Referral?
by Bill Cates
Establish Your Five Dials and Review Them Daily
by Dan Sullivan
Coach's Corner by John P. Napolitano
Welcome to The Paragon Advisor
You’re probably wondering why you need a regular newsletter about practice management. I realized, after years of practice as a financial planner, and an insatiable appetite for best practices, that the financial world needed a place for advisors to see divergent points of view about what are considered best practices. This is the only publication dedicated to the intersection of life planning and business planning, exclusively for financial professionals. Its mission is to help advisors build a scalable, profitable Wealth Management business that allows you, the owner(s) to also carve out more time for a better life.
How Personal Marketing Can Land You Your Dream Clients
What’s your most important product? The answer is YOU – The Brand Called You. You’d better market it – or else.
Are you actively marketing your value? Your Personal Marketing will determine whether you succeed or fail, and whether you blend in with the bland, faceless majority of financial advisors or stand out and become a superstar. You have a Personal Brand and you need to market it.
When’s the Best Time to Ask for a Referral?
Do you ask a new prospect for referrals on the first appointment? Do you wait until the second appointment? Do you wait a year into the relationship?
The answer is, "It depends." There are at least two things to consider in determining when to ask for referrals. First, value must be provided to the prospect/client and value must be recognized b the prospect/client. Second, you must consider the personality of the referral-giving candidate.
Establish Your Five Dials and Review Them Daily
Identifying the mission-critical measurements that can tell you if your business is on course.
The critical five dials
A few years ago, I flew on a 747 from Toronto to Vancouver. The passenger sitting next to me turned out to be the Air Canada captain who was going to fly the plane on the further leg of the trip from Vancouver to Osaka. I struck up a conversation with him, mainly because I have always been fascinated with the 747, and I wanted to know what it was like to fly this remarkable machine.
Coach's Corner
Don’t just hire a coach, hire a MentorCoach
The proliferation of coaching programs for financial advisors has become as common as the advisory business itself. Yet many advisors go through their daily routine without the guidance of a good coach or mentor. In effect, they are their own CEO, planner and coach… and that’s too much for any one person to handle. If professional sports teams offer any comparison, pro teams did away with the player-coach role decades ago, as only one such team has ever won a world championship.
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