The Preeminent Advisor Audio Podcast

More Than Money: Why You Need to Help Clients Build a Life of Significance – Episode 11

As advisors, you’re extremely comfortable delving into your clients’ financial goals so you can craft plans, portfolios and other solutions aimed at getting them to those desired outcomes.
But what if you went beyond the financial issues by also helping your clients build a life of deep personal significance and meaning? It turns out, you stand to gain a lot by providing leadership and guidance in key non-financial areas of your clients’ lives.
Watch, read or listen to find out more on our website for top financial advisors at CEGWorldwide.Com.

Are You Helping Your Clients Live Their Best Life? – Episode 10

In today’s world, where it’s challenging for investors to differentiate between various financial services providers, standing out requires more than just getting good returns on investments. What makes you different in the eyes of affluent prospects and clients is how well you can help people achieve what truly matters to them in life, beyond reaching their financial goals.
To do that, you need to first recognize what your clients want out of life and what “living their best life” means to each of them. Only then can you position yourself to help clients realize what matters most to them. If you can craft a value proposition that empowers them to pursue their key financial and nonfinancial aspirations, you’ll move a huge step closer to becoming a preeminent advisor. Are you helping your clients live their best life?
Watch, read or listen to find out more on our website for top financial advisors at CEGWorldwide.Com.

What Your Clients Want From Life—Men Vs. Women Edition – Episode 9

We all know that success in life often means different things to different people. Some of your clients may say they’ll feel successful when their net worth hits a certain level, while others will measure their success by whether they’re able to pursue specific goals without worrying about their financial health.
One of the many factors that can play a role in how clients define a meaningful, successful life is gender. Men and women think in different ways, which in turn can take them down divergent paths toward their specific success destinations.
Watch, read or listen to find out more on our website for top financial advisors at CEGWorldwide.Com.

Are You Prepared to Help Clients Live Their Best Life? – Episode 8

The fact is, “being rich” is no longer enough for most clients. Today, success involves a lot more—including personal and professional achievement, a sense of happiness and a larger purpose. What’s more, the definition of a highly successful life can vary greatly depending on whether the client sitting across from you is a baby boomer, a Gen-Xer or a millennial.
The upshot: To build strong relationships, you need a deep understanding of each client’s view of a successful life. Discovering how your clients see success can potentially help you generate significant organic growth
Watch, read or listen to find out more on our website for top financial advisors at CEGWorldwide.Com.
 

Clients to Advisors: We Need to Talk About Our Relationship – Episode 7

There is one thing you can start doing right away to ensure that you fully understand what’s important to your clients, communicate proactively and build greater trust with them.
It’s called the discovery process, and it’s designed to help advisors develop a very deep and thorough understanding of their clients so they can ultimately create a total client profile.
This discovery process involves asking a series of questions in seven key categories—only one of which is about financial assets and “the numbers.”  Watch, read or listen to find out more here.

Do You Know What’s Worrying Your Clients? Are You Sure? – Episode 6

Advisors who help their clients navigate through today’s financial stormy weather will be well positioned for tremendous success. The reason: Your clients—even the extremely affluent ones—are concerned about a number of issues going on in the world today and how those issues might negatively impact their sense of financial security.
That means you’ve got to make sure you’re clear on what your clients are worried about—and then take steps to discuss and address those fears so that your clients feel that they’re supported and in the hands of a real leader.
Here’s how to make that happen.

As a Wealth Manager Do You Want Loyal Clients? Do This! – Episode 5

FACE THE FACTS
To see just how important wealth management is to affluent clients, consider research by CEG Insights that assessed the impact that offering comprehensive wealth management services has on client loyalty:
77% of clients with $1 million to $5 million in investable assets say that getting wealth management services from their advisor has an impact on their loyalty to that advisor..
Among clients with $5 million to $10 million, 75% said wealth management affected their loyalty to their advisor.
Clearly, high-net-worth investors value receiving wealth management services—and they’re very likely to reward advisors who deliver it with their loyalty and their assets.

This is What Opportunity Looks Like for Financial Advisors! – Episode 4

The next 12 to 36 months may very well be the best time that advisors will ever see in their career to really transform their business by taking on a significant number of higher net worth clients.
The reason: A truly shocking number of affluent investors are either actively looking to work with new advisors or are highly open to the idea of switching.
The good news: You can take steps right now to put yourself out in front of what looks to be an historic opportunity to grow your business and become a preeminent advisor.

Why Aren’t You Asking Clients About Their Other Advisors? – Episode 3

“Ask and you shall receive” is one of those lessons that so often ends up being true in life. For financial advisors, it’s advice that can go a long way toward building much greater client loyalty and attracting lots of additional assets.
Trouble is, most advisors don’t ask their clients about important details that could mean a stronger business and a life of real significance.
It’s time to change that. Watch or listen and find out how.

For Financial Advisors Today, Volatility = Opportunity – Episode 2

The levels of confusion and volatility that advisors’ clients are experiencing today are off the charts. High inflation that hasn’t been seen in decades, rapidly rising interest rates, concerns about the health of the entire banking sector, the ongoing war in Ukraine—the list goes on and on. Many investors—particularly younger ones—have never had to deal with so much uncertainty and how it could impact their financial lives.
For advisors, this confusing environment spells opportunity—the opportunity to deepen relationships with existing clients as well as attract new clients in need of advice and leadership.
Key Takeaways:
Too many advisors aren’t reaching out to clients about the confusion and volatility in today’s market.
Offer reassurance and leadership to clients now, and they’ll reward you with loyalty and assets.
Attract new prospects by showing you’re one of the advisors who proactively helps clients navigate uncertainty.
FACE THE FACTS
Unfortunately, CEG Insights research reveals that far too many clients of financial advisors say they aren’t getting the guidance and help they desperately want from those advisors. For example:
Fewer than half of advisors—45%—have recently reached out to clients to get them more involved in the investment process, even though around 65% of investors say they want to be involved on a regular basis.
Just 59% of advisors have reached out to clients to discuss market volatility. (In today’s environment, that should be close to 100% instead.)
The good news: CEG Insights research shows that advisors who do take these steps can see powerful results.
8% of clients whose advisors got them more involved in the investment process gave the advisors additional assets—while 10% said it deepened their relationship with the advisors.
7% of clients whose advisors discussed market volatility with them gave the advisors additional assets—and 12% said it deepened their relationship with the advisors.
INSIGHTS INTO ACTION
Clearly, it’s a great time—a crucial time—to reach out to clients about today’s uncertainty and engage with them. Here’s how to do it:
1. Give clients the opportunity to be heard. Check in with clients specifically about the recent volatility and uncertainty. When you do, give them permission to express how they feel about it and listen to them. During rough patches, clients might be nervous to share their true underlying feelings. So it's important to give clients some framing when you check in during periods of volatility. Say something like, "Hey, I'm calling because markets have been extremely volatile lately, and inflation is really causing some issues, and that's causing a lot of clients to feel uncertain and anxious. So I wanted to check in and see how are you doing., Do you have any questions?" That helps facilitate an honest conversation and demonstrates that you care about your clients’ best interests.
2. Offer reassurance and leadership. In periods of uncertainty, clients want to know how the volatility affects them, how they should behave and the right actions for them to take. They want to know that you’ve seen this before and you know what to do—and not do. Be clear that volatile or down markets always pass. And, importantly, bring the conversation back to each client’s personal situation—their specific plan and goals, and what the current environment means for their lives.
3. Go on offense. The CEG Insights findings above highlight that many investors today aren’t getting the guidance they need from their advisors. Ask your top clients, centers of influence and other who are important to your success if they know of anyone who might benefit from meeting with a proactive advisor like yourself who can give them much needed clarity they may be lacking. Asking for introductions or offering a second-opinion service can be especially effectively in today’s cloudy environment.
Ultimately, high-net-worth clients will gravitate to those advisors who really know how to show leadership and provide the communication that the research says that the affluent want. Take steps today to ensure that you’re one of those select advisors.
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The Preeminent Financial Advisor Podcast is designed to help you in two highly valuable ways:
1. In each episode, you’ll get the latest empirical research on the attitudes, wants and needs of high-net-worth clients as well as the best practices of some of the most successful financial advisors in the business today. So often, advisors are surprised by what their clients are looking for from them. Our research will help give you a crystal-clear view of what the affluent expect from you today so you can set out to meet—and exceed—those expectations. Our research will also reveal what top advisors practicing today are doing to win the hearts, minds and assets of the affluent—so you can take a page from their playbook!
2. Of course, data is nothing if you can’t put action behind it. So in each episode, we’ll offer action steps for success rooted in the research and insights we uncover. That means you’ll discover actionable strategies to implement that can help you move toward becoming the preeminent advisor in your market.
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