KRISTA SHEETS Accelerating Team Performance to Maximise Client Relationships Why Building a Team is Critical to Creating Value in Your Business

Who is Paragon Resources? Founded in 1994 in Atlanta, Georgia to help investment advisors build and manage successful businesses. We are a practice management training and consulting firm specifically focused on ROP – R eturn o n P eople . Our clients are brokerage firm leaders and successful $1MM+ teams focused on fee-based asset management and wealth management services.

Founded in 1994 in Atlanta, Georgia to help investment advisors build and manage successful businesses.

We are a practice management training and consulting firm specifically focused on ROP – R eturn o n P eople .

Our clients are brokerage firm leaders and successful $1MM+ teams focused on fee-based asset management and wealth management services.

Value Defined

Developing Themes of Successful Advisors Working ON the business not just doing it Build the team and it shall come Client Advocacy vs. Client Acquisition

Working ON the business not just doing it

Build the team and it shall come

Client Advocacy vs. Client Acquisition

Business Optimization Less Effort Good Results Great Results More Effort

Practice Management Vision Business Obesity Systems =  Capacity Resource Utilization Workload Capacity Gap

Vision

Business Obesity

Systems =  Capacity

Resource Utilization

Workload Capacity Gap

The Building Blocks of Business GRIND MIND FIND

What are the Core Functions of Your Business? Practice Management Marketing Sales Wealth Management Portfolio Analysis Investment Management Research Portfolio Reviews Client Service Relationship Management Administration & Operations

Teams are the Solution 3 Types Vertical Horizontal Hybrid Which one is right for you?

3 Types

Vertical

Horizontal

Hybrid

Results-Driven Team Defined The right PEOPLE doing the right THINGS the right WAYS for the right CLIENTS at the right TIMES for the right REASONS

Formula for Team Success Complementary Behaviors (DISC) (HOW) + Compatible Motivators (Values) (WHY) = Results-Driven Team

Complementary Behaviors (DISC) (HOW)

+

Compatible Motivators (Values) (WHY)

=

Results-Driven Team

5-Star Service Turns Clients into Advocates LTV = Real Profitability Referrals define your success Organic growth Consistently exceed expectations Service drives sales Actions speak louder than words

LTV = Real Profitability

Referrals define your success

Organic growth

Consistently exceed expectations

Service drives sales

Actions speak louder than words

Design a Service Menu Results of Designing a Service Menu: Not all clients are created equal, but all deserve SOME level of service Keep your clients ENGAGED PROACTIVE communication strategies Show your clients you APPRECIATE them ATTRACT ideal clients by delivering a memorable client experience

Results of Designing a Service Menu:

Not all clients are created equal, but all deserve SOME level of service

Keep your clients ENGAGED

PROACTIVE communication strategies

Show your clients you APPRECIATE them

ATTRACT ideal clients by delivering a memorable client experience

Service by Segment How? Assess your clients: Client scorecard Define ideal client Classify each client Develop opportunity and elimination lists Determine your core, standard service ingredients then your signature ones

How? Assess your clients:

Client scorecard

Define ideal client

Classify each client

Develop opportunity and elimination lists

Determine your core, standard service ingredients then your signature ones

Why Define Your Ideal Client? Helps you make wiser decisions on where or where NOT to spend your efforts Allows you to target your marketing messages which leads to results Leads to win-win relationships Focuses you so you say no to the wrong business

Helps you make wiser decisions on where or where NOT to spend your efforts

Allows you to target your marketing messages which leads to results

Leads to win-win relationships

Focuses you so you say no to the wrong business

Define Your Ideal Client Factors to Consider Quantitative Influence Qualitative From: Know Service, Authors: Dale and Sheets Know WHO Your Ideal Client is and WHAT they need and want

Factors to Consider

Quantitative

Influence

Qualitative

From: Know Service, Authors: Dale and Sheets

Differentiating Standard vs. Signature Service Standard Service elements to MEET expectations Typically more reactive Examples: mailing statements, issuing checks, returning calls within x hours Signature Service elements to EXCEED expectations Typically more proactive Examples: offering holistic advice on more than just insurance or investments; serving clients their favorite beverages; inviting a client and spouse to dinner; personalizing their appreciation items

Standard

Service elements to MEET expectations

Typically more reactive

Examples: mailing statements, issuing checks, returning calls within x hours

Signature

Service elements to EXCEED expectations

Typically more proactive

Examples: offering holistic advice on more than just insurance or investments; serving clients their favorite beverages; inviting a client and spouse to dinner; personalizing their appreciation items

Connect with Your Clients Communication #1 complaint by clients: “I don’t hear from my advisor enough.” Type, purpose, frequency, and method Appreciation Show them you care Notes, cards, gifts, and events personalized to them Environment Give them a memorable, enjoyable experience What is it like to do business with you? Conduct a client experience exercise

Communication

#1 complaint by clients: “I don’t hear from my advisor enough.”

Type, purpose, frequency, and method

Appreciation

Show them you care

Notes, cards, gifts, and events personalized to them

Environment

Give them a memorable, enjoyable experience

What is it like to do business with you? Conduct a client experience exercise

Commit and Act! Engage in the right activities with passion and results will follow Never stop learning Take baby steps – one idea at a time Invest in your team – they are integral to your ultimate success Simplify the complicated Behavioral change is difficult, be consistent – you can’t “fly-by-the-seat-of-your-pants” anymore Patience – anything worth it, takes time!

Engage in the right activities with passion and results will follow

Never stop learning

Take baby steps – one idea at a time

Invest in your team – they are integral to your ultimate success

Simplify the complicated

Behavioral change is difficult, be consistent – you can’t “fly-by-the-seat-of-your-pants” anymore

Patience – anything worth it, takes time!

THANK YOU! Contact information: Krista S. Sheets [email_address] www.ParagonResources.com US: 770.319.0310 | Skype: paragonresources