For the convenience of other audience members, cellphones should be silenced or turned off during presentations. The document provides strategies for financial advisors to increase their profits, including focusing on factors within their control like expenses, cost of sales, and total sales. It examines the super profit formula of quantity (number of prospects x conversion rate) times quality (number of sales per client x average sale per client) times leverage (systems/capital/etc). Case studies show how practices increased profits by reviewing existing clients more thoroughly and implementing a full needs analysis for new clients. The document stresses concentrating efforts on the factors an advisor can control to drive business growth.
The High Performance Course from the Elite Professionals Programme for NZ financial advisers, presented by Tony Vidler, Mike Barnes and Kevin Smee.
This brief overview explains why the programme is different, and how it works for financial advisers.
This information pack provides an overview of the entire Elite Professionals Programme, but with a particular emphasis upon the High Performance Course which is one part of the overall programme.
For experienced NZ financial advisers.
Institute of Financial Advisers Risk Masterclass presentation, 2012, on issues in calculating and selecting appropriate trauma insurance cover for clients
The High Performance Course from the Elite Professionals Programme for NZ financial advisers, presented by Tony Vidler, Mike Barnes and Kevin Smee.
This brief overview explains why the programme is different, and how it works for financial advisers.
This information pack provides an overview of the entire Elite Professionals Programme, but with a particular emphasis upon the High Performance Course which is one part of the overall programme.
For experienced NZ financial advisers.
Institute of Financial Advisers Risk Masterclass presentation, 2012, on issues in calculating and selecting appropriate trauma insurance cover for clients
Whitepaper explores the issue of how governments can help citizens feel that it is "safe to play" in the connected world. It discusses the issues of trust and privacy and sets out a simple framework to help the public sector tackles these complex issues.
Culture is the driver of sustainable performance. Management board culture is not as elusive as often thought. It can be made concrete by evaluating management board performance, not only based on figures and strategic memos, but also on key cultural characteristics. It is time to rethink the role of non-executives in the boardroom.
Nolan newsletter article discussing the implications of social media on delivery of service and how social media can help or hinder gaining a competitive advantage using the service operation.
So you did it. You sent your resume to everyone you know. You have scoured job sites.
But you haven't heard back on your resume. Or you are not been able to score interviews.
It's time to rethink your job search....
Read on to find out about the latest job trends and how you can adopt a completely different job search strategy.
More at http://www.careertiger.com
Financial advisers often undersell their expertise and the work they do, and it is generally because they don't explain the type of work they CAN do and how clients can choose to engage along the way. This presentation is a simple way of positioning different types of engagements and showing the clients the choices they have, and remuneration methods with each phase.
Great practitioners tend to become good managers because they have to, and they have the smarts to figure it out. But great practitioners can benefit enormously from coaching for that very reason: they have figured out how to run their business and spend all of their management time looking internally....
to read more visit: http://tonyvidler.com/great-practitioners-can-use-a-coach/
More Related Content
Similar to Finding Gold wihin your business GMC Conference Session
Whitepaper explores the issue of how governments can help citizens feel that it is "safe to play" in the connected world. It discusses the issues of trust and privacy and sets out a simple framework to help the public sector tackles these complex issues.
Culture is the driver of sustainable performance. Management board culture is not as elusive as often thought. It can be made concrete by evaluating management board performance, not only based on figures and strategic memos, but also on key cultural characteristics. It is time to rethink the role of non-executives in the boardroom.
Nolan newsletter article discussing the implications of social media on delivery of service and how social media can help or hinder gaining a competitive advantage using the service operation.
So you did it. You sent your resume to everyone you know. You have scoured job sites.
But you haven't heard back on your resume. Or you are not been able to score interviews.
It's time to rethink your job search....
Read on to find out about the latest job trends and how you can adopt a completely different job search strategy.
More at http://www.careertiger.com
Financial advisers often undersell their expertise and the work they do, and it is generally because they don't explain the type of work they CAN do and how clients can choose to engage along the way. This presentation is a simple way of positioning different types of engagements and showing the clients the choices they have, and remuneration methods with each phase.
Great practitioners tend to become good managers because they have to, and they have the smarts to figure it out. But great practitioners can benefit enormously from coaching for that very reason: they have figured out how to run their business and spend all of their management time looking internally....
to read more visit: http://tonyvidler.com/great-practitioners-can-use-a-coach/
an adviser doesn't just "advise" - they have to figure out when it is more appropriate to coach, or perhaps mentor, or counsel....and each of those knowledge delivery styles have their plusses and minuses....
read more at:
http://tonyvidler.com/dhow-to-deliver-the-right-advice-the-right-way/
Engaging with prospects while they learn and build confidence in a professional's area of authority is critical with todays consumer, and an engagement marketing process should look something like this.
Read more at:
http://tonyvidler.com/advisers-engagement-process-looks-like-this/
The need for ongoing marketing: either advisers market to create the trigger for consumers to seek and then follow advice, or we wait until lightning strikes in the form of a catalyst event in their lives - when it is too late for advice to be helpful.
Prospecting is now an integrated sales and marketing process which revolves around continual engagement....
read more at:
http://tonyvidler.com/prospecting-is-a-process-not-a-thing/
technical competence is not enough to be influential - you need these 5 soft skills to succeed as an adviser today.
Read more at:
http://tonyvidler.com/the-adviser-as-an-influencer/
Begin by brainstorming the possible areas of strategic difference, and then drill down to how one might differentiate within each of those themes...
to learn more visit:
http://tonyvidler.com/begin-creating-your-value-proposition/
There are 9 components to building a practice that will stand the test of time
Read more:
http://tonyvidler.com/the-9-building-blocks-of-a-business-which-will-stand-the-test-of-time/
The key to encouraging more consumers to engage with specialised or strategic advice solutions lies in providing financial literacy - help more consumers know more and make better decisions.
3. Cut to the
chase...
M a isermaket dolas ae w st
ost dv r ing l r r a ed
E er w nt t ma mor money
v yone a s o ke e
E er t mor moneycomes fr
v yone hinks e om
ha ing mor cl s
v e ient
E er w nt newpr
v yone a s ospect idea
ing s
t efor
her e
BUT M e cl s equa mor ser icing,
or ient l e v
dista ions, cost
r ct
AND Notalcl s ae good cl s
l ient r ient
4. The real issue: Getting More $ per client
W lconsidert st aegic ov l y
e’l he r t era
W tyou a ual contol
ha ct ly r
W tis t Pr for a
ha he ofit mul
L a 2 r lexa es
ook t ea mpl
W w lt l t ct
e il ak a ics
Some suggest t go forgol
ions o d
5. Strategic
Overlay
Considert fa s....
hese ct
• 60 a iser see t
% dv s hemsel es differ l t w tt
v enty o ha hey
a ual do
ct ly
• A iser ae t No 1 sour offina linfor t foronl
dv s r he ce ncia maion y
19% ofKiw i’s
• 79% ofmaket l ds nev conv t
r ing ea er er
• T w NUR UR l ds gener t 50 mor in saes, a
hose ho T E ea ae % e l t
3 % l maket cost
3 ess r ing
• Nurur l ds ma 4 l r pur ses t n newy
t ed ea ke 7% ager cha ha l
quaified l ds
l ea
T cr t aCust t e mustbe Tust
o eae omer her r
T buil L ly
hen d oyat
T ConfidentCust s r
hen omer efer
6. Smart: Control
what you can
PR is ha ing mor t a saes t n t costofsaes a
OFIT v e ot l l ha he l nd
expenses.
SuperPr is ha ingW Ymor – r ous R
ofit v A e idicul OI
T pah t SuperPr : know what you can
he t o ofit
control T tis:
. ha
Expenses,
Costofsaes, or
l
T a saes
ot l l
T per s us t concentae on onl 1 el , so w lgo for
ime mit o rt y ement e’l
“T a Saes”
ot l l
7. Super Profit Formula:
The QUANTITY (no ofprospect x conv sion r t
s er ae)
X QUALITY (no sales/client x average sale/client)
X LEVERAGE (systems/capital/etc – time & capacity)
X MARGINS (costofsaes + expenses a %)
l s
= SUPER PROFIT
8. Quick recap....what you can control
Pros pecting – pot ia a it a a ied
ent l bil y nd ppl
Convers ion a it – pr
bil y ospect int cust s, cust s int cl s,
s o omer omer o ient
cl s int COI, et
ient o c
Number oft you sel t ea cust
hings l o ch omer
T $$ value ofea t you sel
he ch hing l
T go forgol focus on w tyou CA cont ol
o d, ha N r
9. Case Study: Single Adviser Practice
20 9: $14 ,60 A Aer ge sae $1,3
0 0 0 PI. v a l 15
20 : $13 ,70 A Aer ge sae $1,576
10 8 0 PI. v a l
O ne Change made: Review every A & B client
20 R t
11 esuls:
$255,360 API. Aer ge sae $2,20
va l 1
32% incr se in numberofsaes
ea l
39% incr se in a er ge sae size
ea va l
84% incr se in t a NewBusiness
ea ot l
10. Case Study: Large multi-adviser practice
20 : Al r a isor for r onl a er ge A persae $1,20
10 age dv y ce, isk y, v a PI l 0
O ne Change made: “Ful needs anal
l ysis”
20 Aer ge sae size gr t ov $1,50 A Saes v ume incr sed
11: v a l ew o er 0 PI. l ol ea
onl sl l (3
y ighty %).
25% incr se in business fr sa cl s, sa a iser sa
ea om me ient me dv s, me
pr s
oduct
11. Which levers work for what?
Quick Impact Long Term Gain
L v ume ofpr
ift ol ospect
s. Aer ge sae v l w h needs a l + 3 (e.g. 110 A t
v a l aue it naysis 6% 0 PI o
L quait ofpr
ift l y ospect (a da it
s ffor bil y) 150 A
0 PI)
R wa iv y– your orot s. (a g a iser6a s/ k? “SEE
a ct it s her v dv ppt w ). Focus on being ma infor t pr ider Cont maket is t
in maion ov . ent r ing he
the peopl e” go.
Conv sion – LE T Nt cl (I a t al ser
er NG HE ime/ ient m ot ly ious!) Impr e skils A experise. Knowmor t ch mor sol e mor
ov l ND t e, ea e, v e.
Use meet a . Setexpect t
ing genda aions. T lt w tyou ca do
el hem ha n
M o ca igns
icr mpa Cl segment t F on t you ca getexcept lr ur
ient aion. ocus hose n iona et n
on.
Sel iv fee- t M pr ect
ect e seting. ini oj s.
Numberofsaes/ omer T Big. Biggerissues/ ut G for
l cust : hink sol ions. o
Numberofsaes/ omer St r Smal(ba cov enha
l cust : at l se er ncement s).
w letshae – t l ime v l
al r hink ifet aue.
ov o edium (compl ayser ices &pr l .
M et M ement r v oduct ines)
Use Lev a (peopl $, infr stuct e)
er ge. e, a r ur
13. Action Plan
Pr ion pl nned. R a, pr a
omot a egul r ogr mmed.
Cor M r ing a iv ies schedul
e aket ct it ed.
R a COI a iv yschedul
egul r ct it ed.
One- one pr
on- ospect t al t
ing ime locaed.
Cl (r enue- aing)meet pl nned
ient ev gener t ings a
Cl meet pr &folowup pl nned
ient ing ep l a
...t al t ga t be used for“office w k” a “dr ins” or
hen low he ps o or nd op-
“ser ice” w k.
v or
14.
15. Pulling it together...
The sal bone’s connected to the marketing
es Getting the right things done
bone...the marketing bone’s connected to the
CRM bone... right, in the right order...
Communicae. T l t peopl
t ak o e.
Ha e t getbusy&a iv L ha fr fir .
v o ct e. ow nging uit st
F on BLUE t in SuperPr for aa st r
ocus hings ofit mul t at
(qua it quait l er ge – in t tor )
nt y, l y, ev a ha der
Be t infor t sour – cont !
he maion ce ent
Buil tustw h quait infor t a da e sol ions t
d r it l y maion; ffor bl ut o
t needs; pr
heir ofessiona pr
l ocess; cl rexpect t
ea aions.
T Nyou ae becomingr r bl
HE r efera e
Communicae. T l t peopl
t ak o e.
16. F mor infor t oridea check out
or e maion s, :
ww r l
w .st ictybiz.co.nz
TonyVidler
http://tonyvidler.blogspot.co.nz/
htp:/w w cebook.com/ ges/ r l Business-
t / w .fa pa St icty-
Ld/ 94
t 2914 997569951
http://www.linkedin.com/in/tonyvid ler