Journal of Wealth Management Consulting


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Journal of Wealth Management Consulting

  1. 1. Journal of Wealth Institutional Strength Intelligence Management INSIDE Consulting D e c e m be r 2 0 0 8 • Vo l . t wo • N 0 . 1 2 THIS ISSUE First Word . . . . . . . . . . . . 2 The Year Ahead— COLUMNS The Year Ahead— and Beyond . . . . . . . . . . . 1 and Beyond The Power of Wealth By John J. Bowen Jr. Founder and CEO, CEG Worldwide Management . . . . . . . . . . 6 The Value of a High- It’s been an extraordinarily challeng- Performance Team . . . . 10 ing year, and many advisors have PROFILES Grant been forced to spend all their time Blindbury A Wealthy Foundation . . . . 4 responding to the fallout from the financial crisis. But it’s important that we not lose sight of our Michael Tate goals during these turbulent times. With 2009 Accounting for Wealth . . . . 8 almost upon us, it’s a great wealth managers (who serve just opportunity to set some key long- 101.1 clients on average, versus 269.3 term objectives for your business. for other advisors) succeed largely As always, the lessons we have because they have shorter client learned from today’s top wealth lists. A smaller stable of clients managers provide an excellent map allows wealth managers to spend showing which direction you should more time cultivating the client be taking your business. Those lessons relationship, resulting in better include: client service and, in turn, greater client retention and word-of-mouth Slim down your client base. Advisors marketing. often can’t believe that reducing the Focus on clients, not the markets. How do you compare to number of clients they serve can Many advisors spend the majority of the top advisors? Take lead to greater income. Truth is, their time following the markets and your free assessment at continues on page 3
  2. 2. First Word By John J. Bowen Jr. The advisors we work with are often struck by one particular revelation: One of the most important conver- sations you can have with clients is about their Journal of Wealth values. By asking your clients to identify their core Management Consulting Mark Klimek values, you uncover exactly where your focus Editor Patricia J. Abram, John J. should be in assisting them, and you client’s values in this way until you Bowen Jr., Jordan Gruber, help them to clarify their direction think you have heard the final answer. Frederick M. Hanish, Nate Hardcastle, Jonathan Powell, and what they want to achieve in life. You would then ask, “Is there anything Steve Saenz, Katie Soden Values are exceptionally powerful more important to you than (the last Contributing Writers because they have a profound impact value mentioned)?” If the client says yes, ©Copyright 2008 CEG Worldwide, on every important decision we make, then ask, “What is more important?” LLC. All rights reserved. from what we choose to do for a living and continue with the questioning to whom we marry to how we spend format. Once the client answers no, you No part of this publication may be reproduced or retransmitted in our free time. For example, most will have likely uncovered his or her any form or by any means, parents would tell you that they value single most important value. including, but not limited to, elec- their children above almost everything To help ensure that you get to the tronic, mechanical, photocopy- ing, recording, or any information else. As a result, they want to protect core values, it’s useful to address three storage retrieval system, without them, educate them well and set them levels during any values conversation: the prior written permission of the onto a smooth path in life. One of the publisher. Unauthorized copying things many of these parents want to Level one. This is about the basic may subject violators to criminal penalties as well as liabilities for do is build an adequate college fund. self, including issues such as substantial monetary damages This is a common goal known to most security and financial freedom. up to $100,000 per infringement, advisors. But underlying that goal is Level two. This is about family, costs and attorney’s fees. the fundamental value of loving their friends and community. The information contained children. Level three. This is about the higher herein is accurate to the best of A values-based discussion always self, including issues of faith, the publisher’s knowledge; how- begins with the question, “What’s destiny and reasons for being. ever, the publisher can accept no responsibility for the accu- important to you about money?” If racy or completeness of such the client answers, “Security,” you By tapping into your clients’ deepest information or for loss or dam- would then ask, “What is important to values, you’ll truly know and under- age caused by any use thereof. you about security?” If the client stand your clients. The end result: CEG Worldwide, LLC responds, “Knowing that I can take You’ll be able to consistently give 1954 Hayes Lane care of my family,” you would then them the on-target wealth San Martin, CA 95046 ask, “What is important to you about management recommendations and (888) 551-3824 taking care of your family?” solutions that they need to lead You would continue uncovering the fulfilling lives. [2] J o u r na l o f Wea lt h M a nag e m e n t Co n s u lt i n g
  3. 3. About Wealth Types of Formal Systems in Place: Management Wealth Managers vs. Investment Generalists Leading financial advisors WEALTH INVESTMENT are driven by a singular MANAGERS GENERALISTS goal: to build highly suc- Engaging in a formal interview process with clients 85.5% 58.7% cessful businesses by deliv- Providing clients with formal plans 81.9% 37.0% ering world-class service to Providing clients with write-ups evaluating their situations 76.8% 35.1% their clients. Wealth man- N = 2,094 financial advisors. Source: CEG Worldwide, 2007. agement is the one business model that will help you accomplish that objective. continued from page 1 client referrals. That finding matches making buy and sell decisions based up with earlier industry research Wealth managers leverage on what they see. Wealth managers, showing that 54.2 percent of affluent three key steps to deliver by contrast, devote most of their individuals found their advisors tremendous value to their efforts to cultivating strong bonds through referrals from accountants affluent clients’ financial lives: with clients, seeking to earn their or attorneys, compared to 30.1 trust by working closely with them percent who found their advisors Using a consultative over time and learning their through client referrals. process to establish individual needs, resources and Take care of your business. Whether close client relationships aspirations—financial and you own your practice or work for a Offering customized solutions to fit each indi- otherwise. Previous industry firm, you are a businessperson and vidual’s needs research has proven how much more an entrepreneur. That means you Delivering these solu- important this client focus is. When a need to run your business like a tions in close consulta- group of clients who left their business. Great entrepreneurship tion with clients and advisors were asked why, a full 87 for advisors boils down to clarity of their other professional percent cited a “poor service purpose (identifying and serving advisors relationship.” A mere 13 percent cited the right clients), focus (creating a “investment performance.” compelling value proposition) and Create systems for success. Wealth execution (systematically About CEG Worldwide managers understand the delivering the client experience CEG Worldwide’s founder, John importance of using formal promised by your value J. Bowen Jr., first identified the systems to ensure high-quality proposition). You also must have key factors that contribute to a service. For example, wealth the support mechanisms (such as financial advisor’s success managers are far more likely than the right team and technology) that while working with elite advi- sors. Recognizing that this typical advisors to engage in formal will enable you to consistently do knowledge would have sub- interviews with new clients and what you love—help clients achieve stantial impact on advisors, provide formal plans and write-ups their financial goals profitably. their clients and the industry evaluating clients’ situations (see itself, Bowen and his partners the chart above). Of course, your own goals may differ launched CEG Worldwide. Partner up. Working with from the ones outlined above. But The firm’s mission is to pro- professionals such as accountants regardless of your specific situation, vide financial advisors and the and attorneys is a highly effective remember this: Don’t get so caught financial institutions that serve way to grow your business— up in the day-to-day that you forget them with insights, strategies especially in a tough environment. why you got into this business in the and tools to significantly grow More than 80 percent of wealth first place. It’s highly important to their businesses and better managers say their five best new think strategically about your meet their clients’ needs. CEG clients came via referrals from other business and set ambitious goals that Worldwide is uniquely posi- tioned to combine leading professionals—almost five times the will motivate you to push your empirical research expertise number who say their best clients practice to a higher level of success— with pragmatic, proven busi- came through the next-best method, in 2009 and beyond. ness experience. The com- pany offers practical guidance that works for elite financial [3] advisors as well as those advi- w w w. c e g w o r l d w i d e . c o m sors aspiring to elite status.
  4. 4. A Wealthy Foundation Grant Blindbury specializes in retirement planning for investors seeking wealth management and asset-class strategies >> Grant Blindbury is a young man with an “old head.” Unlike many who have worked in the financial industry for decades, the 29-year-old Blindbury has put together a wealth management prac- tice—FMB Wealth Management in Westlake Village, California—in a relatively a fee-based company specializing in Despite his short time period. “I guess it comes long-term investment strategy and youth, down to my commitment to trying to dynamic portfolio design, and we find industry best practices and then strive to maximize the probability of Blindbury's applying them as efficiently as achieving all that’s important to our been working in possible,” says Blindbury. clients,” says Blindbury. “FMB Wealth the investment Blindbury’s been working in the Management provides financial and advisory investment advisory industry since investment counseling for a limited 2003, managing the assets of affluent number of affluent families and small- industry since individuals and pension plans. He business owners. We take new clients 2003, managing earned his degree in business and only when we have determined that the assets economics at the University of we can add substantial value to those of affluent California, Los Angeles and then, in clients’ financial situations.” 2007, earned his CERTIFIED Using passive, low-cost strategies individuals and FINANCIAL PLANNER™ certification. for investments and a consultative and pension plans. Drawn to the client-centric model that collaborative wealth management he says fee-based advisory services approach, FMB Wealth Management’s provide, he joined forces with Fields principals identify the specific Financial Associates, Inc., and later challenges clients face in reaching partnered with the firm’s founders to their goals and provide an investment create FMB Wealth Management. plan to close the gaps. Clients are The firm was founded on the offered customized choices and principle that an effective investment solutions designed to reach their goals portfolio directly reflects the investor’s and reinforce their values. These primary economic objectives. “We are solutions are developed and delivered [4] J o u r na l o f Wea lt h M a nag e m e n t Co n s u lt i n g
  5. 5. in close consultation with the clients and subject to considerable volatility. as well as their other trusted advisors In such instances, resources that may in a highly collaborative environment. benefit family, friends or community Blindbury is especially attracted to are not being fully leveraged. The retirement-oriented strategies and damage is not confined to the assets enjoys working with successful clients themselves but has corollary effects who understand the need for planning related to time value as well, since the when it comes to their retirements. “As longer the wealth is not properly a private wealth strategist, I specialize situated, the less impact it can have on in positioning my clients for a realizing its owner’s values and the “As a private successful retirement by coordinating values of those close to the owner. their most important financial affairs,” Blindbury points out that it’s wealth he says. “I do that by using a important to consider every aspect of strategist, I consultative process to identify their retirement planning—social as well as current financial situations and financial. Retirees he works with are specialize in challenges, and then I work with a successful people, and they want to positioning my team of experts to design solutions to ensure that their good fortune help them achieve their most extends to their families, friends and clients for a important goals.” communities. Wealth management, successful Blindbury adds: “I’ve always valued which emphasizes the alignment of preparation and planning when wealth with the values of the investor, retirement by approaching any life skill. My interest is an ideal methodology that considers coordinating and enjoyment in working with the totality of the retirement, not just retirees and especially those planning discreet or narrow financial aspects. their most for retirement comes in part from an “Wealth management is truly a important appreciation of the hard work that lifestyle approach in which the must go into the process and our person’s total circumstances are taken financial ability to do the work in an efficient into account. It is a great approach affairs.” and productive way.” when one contemplates retirement, He points out, however, that hard because it almost forces you to take work isn’t enough when it comes to into account every part of your meeting life’s challenges. It also takes lifestyle and life needs,” he says. the accumulation of intelligently Blindbury adds that one of the most selected tools that allow the individual valuable aspects of his emphasis on or financial professional to properly wealth management has been working pursue and realize success. For with California-based CEG Worldwide, Blindbury, success in the financial field the leading advisory coaching firm. He is best achieved through the application credits the firm with expanding his of wealth management strategies that horizons in terms of how wealth include asset-class allocation. management is applied. “There are so Blindbury is also a believer in the many aspects to wealth management, concept of “social capital”—the idea and CEG Worldwide is very helpful in that improperly aligned wealth organizing and presenting this potentially deprives the individual not information to advisors,” he says. “My only of assets, but also of tangential clients and I have benefited wealth elements. Example: wealth that tremendously from CEG Worldwide’s is locked up in a few large investments concepts as well as their presentation.” [5] w w w. c e g w o r l d w i d e . c o m
  6. 6. The Power of Wealth Management By Frederick M. Hanish Senior Managing Principal, CEG Worldwide The effort and investment required to become a wealth manager can be substantial. But shifting to wealth management now is one of the best things you can do for your business. Why? Because wealth management gives you opportunities you can’t get from any other approach in this of the methods you choose, the volatile environment. For example: increased flexibility can result in a higher level of profitability. A higher income. Wealth The extent of your higher management entails offering a income potential as a wealth broad range of services and manager can be seen in the results products to clients. It also gives of a nationwide study by CEG you the opportunity to offer many Worldwide of more than 2,000 different but interrelated services registered investment advisors, and products to the same client. independent broker-dealer Both enhance your income and representatives and wirehouse profit potential. brokers. The study characterized The compensation arrangements the advisors as either investment of wealth management can also generalists or wealth managers. As serve to increase your income. the chart on page 7 shows, the Compensation can come from wealth managers enjoy four main areas: advisory fees for substantially higher net incomes. planning, case design and Their average net income is implementation; commissions on $881,000, compared to just the sale of some investments and $279,000 for the investment life insurance; asset-based fees for generalists. money management or A greater ability to compete for investment consulting; and wealthy clients. Using the wealth performance fees linked to management model is one of the particular products or the success best ways to attract the affluent. of a particular strategy. Regardless One study of individuals with [6] J o u r na l o f Wea lt h M a nag e m e n t Co n s u lt i n g
  7. 7. between $500,000 and $5 million in liquid assets found that, Net Income: overwhelmingly, they prefer Wealth Managers vs. working with wealth managers Investment Generalists $1,000,000 over other types of financial $881,000 advisors. A full 77.1 percent $800,000 expressed a preference for working with a wealth manager, $600,000 while 18.8 percent would rather work with a financial advisor or $400,000 Wealth planner, and just 4.1 percent prefer $279,000 an investment advisor or planner. $200,000 management The preference for working with solves the 0 wealth managers is especially strong among those with greater Wealth Managers Investment Generalists most critical investable assets. While 68.7 N=2,094 advisors. Source: Source: CEG Worldwide, Best Practices of Elite Advisors, 2007. challenges percent of those with investable assets between $500,000 and $1 you face. million would rather work with a “moderately satisfied” affluent wealth manager, a full 82.2 percent clients consider their financial of those with investable assets advisors to be wealth managers. between $2 million and $6 million Additional opportunities to serve would prefer working with a clients. Through the highly wealth manager. consultative wealth management Stronger client loyalty. Client and advanced planning processes, loyalty is a key driver of your wealth managers are well success. Loyal clients are much positioned to uncover the broad less likely to take their business range of needs that any given elsewhere, and they are much affluent client brings to the table. more inclined to provide you with Working with their networks of both qualified referrals and professional advisors, wealth additional assets to manage. managers can arrange for the The strong consultative and products and services that will values-driven framework of wealth meet those needs. And as clients’ management makes it highly financial lives continue to evolve, effective in building client loyalty, there are ongoing opportunities to because it positions the entire meet the new challenges that arise. financial advisor–client relationship as an ongoing Clearly, wealth management is the partnership over time. Consider most effective business model that three-quarters (75 percent) of available today for financial advisors those affluent clients identified as to serve their affluent clients. By “loyal” consider their financial adopting wealth management now, advisors to be wealth managers. you’ll put yourself in the best But only 18.2 percent of “satisfied” position possible to enjoy huge affluent clients and 7.4 percent of success. [7] w w w. c e g w o r l d w i d e . c o m
  8. 8. Accounting for Wealth Michael Tate’s entrepreneurial focus has resulted in a $100 million wealth management business >> By emphasizing entrepreneurial val- ues within a wealth management context, Michael Tate, founder of TPBS Capital Management in Sacramento, California, is helping to build a successful firm that has expanded far beyond its original accountancy roots. Tate’s own values are wealth management. “We understand entrepreneurial in nature, inherited the entrepreneurial impulse and the from his father, who founded the personal and business growth that it accounting firm that is the parent of supports,” Tate explains. “It’s one TPBS Capital Management. Tate’s reason we have been able to father came from a blue-collar family communicate not only with clients, but and placed great emphasis on also with founders and practitioners at entrepreneurial focus in order to other CPA firms.” provide greater personal and With $100 million under professional freedom. Michael Tate has management after only a few years’ carried that perspective even further, time, the approach is obviously not only building his own business but working. The success of the wealth working with others who have similar management emphasis is allowing the values. Thus his firm focuses on firm to increasingly reach out to local serving successful businesspeople, as and national CPA firms that Tate has well as other accounting firms, by targeted for mutual business offering comprehensive wealth expansion. Tate has a success story to management—a process that ties offer CPAs: His own firm’s growth is investors’ wealth together with their now coming entirely from the wealth values to help accomplish key goals management side. The partners at the and realize dreams. parent firm, including his father, have In addition to building a wealth actually stopped taking on new clients management effort, Tate has sought to so that Tate can approach other CPA find partners who share his vision of firms without any hint of competitive transitioning from accounting to conflicts of interest. [8] J o u r na l o f Wea lt h M a nag e m e n t Co n s u lt i n g
  9. 9. Tate believes that CPA firms in the Personal Financial Specialist (PFS) general have to migrate to other designation awarded by the American alternatives as accounting is pressured Institute of Certified Public by two separate trends. The first is the Accountants Specialization general unpopularity of the tax code, Accreditation Board to those CPAs who which is constantly giving rise to have demonstrated their competence alternative suggestions, from fair taxes and experience in providing tax, estate to flat taxes and beyond. The second, and financial planning services. He and more important and immediate decided to focus exclusively on wealth trend, is electronic tax preparation management when a potential client Tate has a using canned software. As software expressed reservations about placing expands and becomes more capable, funds with him because of a fear that success story the need for individual taxpayers to Tate would be unavailable during the to offer CPAs: employ accountants for tax purposes busy tax season. “That was when I will diminish. walked into the partners’ offices and His own firm’s According to Tate, accountants are told them I wanted to concentrate on growth is now sitting on top of terrific assets in the financial services full time,” Tate recalls. relationships they have with “I was willing to give up my accounting coming entirely numerous clients. But they need to practice to do so, and I did.” from the wealth unlock these relationships with wealth With his expanded focus on management and other services above nonaccounting issues, Tate’s client base management and beyond accounting. Tate’s passion and assets grew quickly. Today, the side. for financial services also helps him company’s investment philosophy is visualize a different kind of mix derived from the tenets of modern between accounting and investment portfolio theory, focusing on building management. “I was always interested individual client portfolios that in the larger aspect of financial maximize return for a given level of services,” he explains. “Even as a young risk. The firm uses leading asset-class man I knew that the specificity of fund manager Dimensional Fund accounting could be more resource- Advisors for its investment solutions. rich with other services.” It was the people at Dimensional That knowledge drove Tate to earn who introduced Tate to the California- his degree in finance and economics at based wealth management coaching Saint Mary’s College of California. He firm CEG Worldwide. “CEG Worldwide’s then worked at an investment firm support has been most valuable to us before returning to his accounting as we’ve made the leap from roots and eventually ending up back in accounting to a larger base of services,” Sacramento with his father’s firm. “My Tate says. “They are truly a leader in father’s impulse was never with conceptualizing the advantages of the accounting itself, but with the ability to wealth management approach and in help clients,” he says. “When I came to helping you integrate it into your work for the firm, I saw different ways current business base. We recommend to help. After a while I knew that wealth them to our partners and in general management would be a key for us.” would recommend them to anyone In 2000, Tate earned the who wants to make a transition into professional credential of certified the larger arena of wealth public accountant. In 2005, he received management.” [9] w w w. c e g w o r l d w i d e . c o m
  10. 10. The Value of a High- Performance Team By Steve Saenz Senior Managing Principal, CEG Worldwide The team of people you surround yourself with—and how you work with those people—is a huge driver of your eventual success or failure. That’s the case in any environment, but it’s especially true today. A great team can be instrumental in your efforts to gain new clients and assets, and to showing others you’ve understood retain existing clients, during the them. Explicitly letting others current economic slump. know that you’ve heard and Almost without exception, the understood them is a great way to industry’s top wealth managers build trust. Similarly, recognizing function as part of what we call High- that you have a dominant mode of Performance Teams (HPTs). communication—such as being There are five primary components very persuasive—allows you to of a High-Performance Team: vary how you communicate to match the situation at hand. If you 1. Mutual influence and trust. More always use the same mode, it’s hard than anything else, mutual for others to know that you’ve influence and trust set HPTs apart really heard and understood them. from ordinary teams. Mutual As for trust, truth telling on all influence is two-way influence levels is the HPT’s norm. Trust also among all team members, arises naturally when there is including the owner or team leader. congruence among team On other teams, team members members—when team members compete with one another for consistently do what they say and influence because they see things say what they’ll do. Congruence as a zero-sum game. The goal of issues show up on both the micro High-Performance Team members and macro levels. On the micro is to build a system of mutual level, an incongruent act might be a influence in which everyone is team member saying she is really highly valued. happy with the results of a Mutual influence begins with meeting, but with a scowl on her reflective listening—that is, face. Other team members will read [10] J o u r na l o f Wea lt h M a nag e m e n t Co n s u lt i n g
  11. 11. this as emotional tension and frequently. wonder what she’s really feeling. On These things should evolve over the macro level, other team time, because fresh and fine-tuned members will sense unspoken goals lead to better long-term team disagreements, making difficulties performance. For similar even harder to address. It’s far motivational reasons, the vision, better—far more congruent—for values and goals should have team members to be explicit about inspirational but achievable HPTs create what’s going on and to talk about it components that involve learning, resilient and respectfully and openly. A final stretching and growing. element that leads to trust is a 4. High standards of excellence. High robust wealth genuine interest in people. standards of excellence help you management 2. Membership. Membership is about create your desired outcomes, more than being on a team; it’s ensure world-class client service practices that about feeling that you belong. The and prevent errors. By embracing ideal recruitment process for a high standards of excellence, HPTs consistently team helps members-to-be feel create a structure and a standard of provide that they belong from the time service that satisfies clients and they start interviewing. This results keeps them happy in the long run. clients with in team members who not only When errors do occur, the team exceptional feel that they fit in, but are happy learns from them. about being there. HPTs also have 5. Leveraging of group power and service. healthy ways for individuals to intelligence. HPTs are able to fully leave the team. With other teams, leverage group power and leaving the team can create shame intelligence. They create synergy— or awkwardness. Even when an HPT an effect that is greater than the needs to fire a team member, it sum of the team members’ does so in a respectful way, with individual talents, skills and clear communication that honors qualities. This leveraging enables everyone’s feelings. HPTs to produce better results 3. Common vision, values and goals. across the board, be much more HPT members share common enjoyable, attract the best talent vision, values and goals. Usually, and attract the most affluent the team’s leader or leaders will clients. formulate these, but occasionally the team uses a more democratic An HPT is a vital advantage to have, process. When all team members especially during challenging times. get at least some say, they are A truly committed and exceptionally more likely to truly embrace the performing team can vault your final result. Write down your business to the next level—enabling vision, values and goals in just a you to make more money, enjoy couple of pages, not a 30-page yourself more and serve your clients document. You also should have a better. Next month, we’ll show you simple version, an “elevator how to create a High-Performance speech,” that you can use Team at your firm. [11] w w w. c e g w o r l d w i d e . c o m
  12. 12. Breaking Through Breaking Through is an intensive one-year coaching program focused on the essential strategies and key tactics required to successfully attract, win, service and retain the private affluent client. Breaking Through provides you with exactly what you need to implement key strategies and tactics and join the ranks of these elite advisors. The program’s 16 powerful tactics help advisors find more of the high-net-worth individuals and families they want to work with and assist them in building a growing and very profitable practice with loyal clients. Advisors will learn about the affluent and how to position themselves as experts. CEG Worldwide will show advisors how to gain referrals from current clients, despite today’s market volatility, using time-tested scripts, and explain how to form strategic alliances with lawyers and CPAs to dramatically grow their businesses profitably, while serving their clients well. Advisors will also learn how to: Profile their ideal clients—those whom they can serve best and most profitably Position themselves as experts for their niche markets of ideal affluent clients Build strategic alliances with key professionals in order to create an endless stream of referrals for prequalified affluent prospects Of course, advisors aren’t the only ones who can benefit. Financial institutions that serve advisors can also take advantage of Breaking Through. For example, they will find: More productive advisors, because of better training and coaching, with proven results Greater advisor loyalty and retention, because of increased satisfaction Easier recruitment drives, because advisors will know they’re joining an institution that helps them be more successful Breaking Through: Building a World-Class Wealth Management Business By John J. Bowen Jr., Patricia J. Abram and Jonathan Powell Even advisors who are not in a CEG Worldwide coaching program can take advantage of the firm’s advice, thanks to its recently published book. Included are chapters on attracting affluent clients, managing a practice as a business and building maximum equity. The book clearly describes CEG Worldwide’s Consultative Client Management Process, designed to foster productive, long-term relationships. Throughout the book, there are charts and graphs, so readers can take advantage of CEG Worldwide’s research. In addition, real-world success stories show how advisors who have fol- lowed the CEG Worldwide program have prospered. The book is available through