The
financial world is in complete disarray – we are in the midst of a Category 5
Financial Tsunami. Everywhere you turn
another politician or media pundit is fanning the flames of panic in attempt to
either win votes or boost ratings. This
has driven skepticism and cynicism to new heights, both for affluent investors
and distribution forces (financial advisors and wholesalers).
One thing is certain...
Your ACTIONS over the next 12 months will DEFINE your business for the next 10 years.
So
how are financial professionals “acting” in this Category 5 storm? Not
very well. Only 13.4 percent have
increased the personal time they are spending with their top clients. Advisors are panicked and they need management’s
leadership and guidance now!
Needless to
say, management has a direct impact on the loyalty of its distribution force
(financial advisors and wholesalers). Managerial leadership, guidance, and support impact a financial professional’s
willingness to:
Remain
active in today’s environment (do the right activities, to the right clients,
the right way)
Develop a
reassuring and calm confidence.
Provide
the right services to their clients.
Continue
business with their current firm
Provide
referrals of other financial professionals to their firm.
This loyalty is based on three main
factors:
Trust –
trusting management to give advice that’s in their best interest; letting actions say “I care...”
Help –
receiving management’s help to navigate these turbulent times. This includes help with their Mindset,
Offense and Defense (see link below).
Support –
receiving management’s help with maintaining balance work/life balance.
For
help in “supporting your troops”, the link below provides access to our 12 Commandments to Winning in Tough Times. Give it a perusal; you might find it a good
third-party resource to share with your people.
Advisors
who do the right activities, the right way, with the right attitude, can take clients away from virtually anyone in today’s
economy.
