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."