Ineffective habits of financial advisors (and the disciplines to break them) : a framework for avoiding the mistakes everyone else makes

58 Pages·2011·0.4 MB·English

by  Moore

Contents
Cover
Title Page
Copyright
Dedication
Foreword
Introduction: Setting the Stage
Business Disciplines
Ineffective Habits of Financial Advisors and the Disciplines to
Break Them
The Framework of the Book
Acknowledgments
Chapter 1: Stop Living Their Dream and Start Living
Your Dream
The First Discipline: Start Living Your Dream
Insights
Decisions
Actions
Chapter 2: Stop Focusing on Quantity of Clients and
Start Focusing on Quality of Clients
The Second Discipline: Start Focusing on Quality of Clients
Insights
Decisions
Actions
Chapter 3: Stop Hoarding Unprofitable Clients and
Start Disengaging Unprofitable Clients
The Third Discipline: Start Disengaging Unprofitable Clients
Insights
Decisions
Actions
Chapter 4: Stop Providing Only Investment Advice and
Start Providing Wealth Management Advice
The Fourth Discipline: Start Providing Wealth Management
Advice
Insights
Decisions
Actions
Chapter 5: Stop Delivering Only Investment Reviews
and Start Delivering WOW Wealth Management
Reviews
The Fifth Discipline: Start Delivering WOW Wealth
Management Reviews
Insights
Decisions
Actions
Chapter 6: Stop the Rainmaker Approach and Start the
Team Approach
The Sixth Discipline: Start the Team Approach
Insights
Decisions
Actions
Chapter 7: Stop Selling to Prospects and Start Selling
through Clients
The Seventh Discipline: Start Selling through Clients
Insights
Decisions
Actions
Chapter 8: Jack's Awakening: An Elite Wealth
Management Company
Bibliography
About the Authors
Steve Moore
Gary Brooks
Index

Copyright © 2011 by Steve Moore and Gary Brooks. All rights reserved.
Published by John Wiley & Sons, Inc., Hoboken, New Jersey.
Published simultaneously in Canada.
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Library of Congress Cataloging-in-Publication Data:
Moore, Steve, 1947–
Ineffective Habits of Financial Advisors (and the Disciplines to Break Them) /
Steve Moore, Gary Brooks.
Steve Moore, Gary Brooks.
p. cm.
Includes bibliographical references and index.
ISBN 978-0-470-91032-0 (hardback)
1. Investments. 2. Business consultants. I. Brooks, Gary, 1971– II. Title.
III. Title: Ineffective habits of financial advisors (and the disciplines to
break them).
HG4515.M66 2010
332.6–dc22
2010027089
This book is dedicated to the most important person in my life, Carol, my wife of
45 years, writing partner, and spell checker.
Foreword
You are going to love this book. If you are reading this book, chances are that it
is because you want to improve your performance as a financial advisor. Better
still if that desire is coupled with dissatisfaction with the status quo. And even
better still if you both recognize the rewards for doing so, and believe those
rewards are worth the effort. When that combination is present, transformation is
possible. Transformation in your practice, the success and satisfaction of both
you and your clients, and positive impact on your practice and your community
—all of that can come out of the lessons from this book. There has never been a
better time to be an advisor—or a better time to build a great advisory practice.
Trust is in precious short supply. If you are just beginning in that profession, this
book will help you become a good advisor. If you are a good advisor already, it
can help you become a great advisor—really.
Whether your desire to improve is motivated by wanting more revenue and
profit from your practice, or wanting to enhance the quality and balance of your
work and private lives, or driven by a wish to create excellence inside your firm
is irrelevant. All of those are solid reasons. But that list leaves out the most
powerful reason of all: to adopt habits that foster excellence in your every client
interaction. That is what will build lasting trust with your clients, and ultimately
telegraph outward to attract an increasingly affluent and loyal client community.
And those are just the positive aspects.
The lessons of this book will also help you avert negative experiences
common to advisors that often lead to broken client relationships or damaged
trust—the consequences of which are bad for the client and bad for the advisor.
Often those damaged relationships lead clients to costly and ill-timed bailing out
of the market, a type of investment behavior that more than anything else
threatens to deprive them of their future financial security. So reading this book
will allow you to do well by doing good at the same time. Good deal!
It is a distinct honor to introduce this book. Steve Moore and I have worked
together for over a decade, and I have seen firsthand the transformations in
advisors that his coaching brings about. I have benefited from his coaching
myself, and I can say with certainty that it works—if you apply yourself to it.
This is not just what I think—Steve and I have dozens of clients in common. Of
course there are many consultants in the financial advice industry. Some are