Face to Face

The Key to Success? Creating a Culture of Connection―Part I

by Kristan Wojnar

Proactively connecting with clients is what we refer to as "creating a culture of connection" within your business. However, as Tony alluded to in his last post, yesterday's strategies for success are no longer effective in today's rapidly changing environment. There are four trends every advisor should understand if they want to create value and connection.

Trend #1: Teams!

The majority of top producing advisors now work as part of a team while also building a network of professionals to compliment that team, an approach that brings numerous advantages.  First, teams allow advisors to bring specialty services to clients that may not be readily obtained from an advisor works alone. And while the structure of a successful team may be influenced by many factors (demographics, geography, etc.) my favorite case study is of a top producer that has ascribed to the team approach over the past 10 years.  As part of a 5 member team―an analyst, another rainmaker like himself, one operations person and one administrative "plus" person-this advisor has reached $1.5 billion in AUM, a level not easily reachable by the solo operator.

Building out your network of experts will require a concentrated effort, but upgrading your services will be easier if you have a group of top professionals you can connect with. And while my example above demonstrates the success a team approach may bring, I strongly encourage you to also forge ties across disciplines as you strive to improve your service, connectivity and production.  Your network should be without boundaries, so connect with professionals like CPAs, estate attorneys, insurance professionals, IT experts, elder care managers, banking professionals, and therapists including life coaches.  These untapped connections can present significant opportunity for your business because in today's environment, it's more powerful to realize that referrals are earned, not asked for.

The next post will cover the remaining three trends.  In the meantime, remember, "Life is change, growth is optional.  Choose wisely."