Practice Management

Clients Buy Benefits, Not Features

Clients Buy Benefits, Not Features

(This blog can also be found at the FPA Practice Management site:http://practicemanagementblog.onefpa.org/2014/05/06/clients-buy-benefits-not-features/) Too often, the process of selling professional services emphasizes features and not benefits. In other words, practitioners push features such as, “We offer retirement planning services,” or “We have a disciplined investment process.” When selling ...[Read More]

Your Product is You

Your Product is You

(This blog can also be found at the FPA Practice Management site: http://practicemanagementblog.fpanet.org/2014/03/04/your-product-is-you/) When a buyer wants something, and a seller provides it, a transaction occurs.  However, before a sale is made, the buyer must evaluate what is being sold against the criteria he or she uses to judge value. As a seller of services, what you know, what you do, h ...[Read More]

Marketing with Intimacy

Marketing with Intimacy

(This blog can also be found at the FPA Practice Management site:  http://practicemanagementblog.fpanet.org/2014/01/08/marketing-with-intimacy/) In 2013, it is expected that over 100 billion business emails will be sent per day and will grow to 132 billion by 2017 (www.radicati.com).  According to the direct marketing  firm, Epsilon (www.epsilon.com), email response rates continue to plummet.  Sin ...[Read More]

Speak to Me in Pictures

Speak to Me in Pictures

(This blog can also be found at the FPA Practice Management site:  http://practicemanagementblog.fpanet.org/2014/02/04/speak-to-me-in-pictures/) What once had been the privilege of the wealthy and well-placed, highly-specialized information has become a commodity available to anyone with a computer and Internet access.  This information cuts across every angle, layer, and shade of our personal and ...[Read More]

The Confident Introvert: The Ideal Sales Personality

The Confident Introvert:  The Ideal Sales Personality

(This blog can also be found at the FPA Practice Management site: http://practicemanagementblog.fpanet.org/2013/10/04/the-confident-introvert-the-ideal-sales-personality/) There are two main types of prospects in the wealth management industry:  1) those entirely new to the process of outsourcing and 2) those that are replacing an existing practitioner relationship.  Every growing firm has the cha ...[Read More]

Building Generational Bridges Protects Your Firm’s Value

Building Generational Bridges Protects Your Firm’s Value

(This blog can also be found at the FPA Practice Management site:http://practicemanagementblog.fpanet.org/2013/11/05/building-generational-bridges-protects-your-firms-value/) Succession planning for small- to mid-sized advisory firms is a hot topic.  With equity markets at historical highs and the average age of the principals over 51 (Source:  Schwab Institutional), these two key metrics work tog ...[Read More]

Action Groups Produce Cooperative Improvement

Action Groups Produce Cooperative Improvement

(This blog can also be found at the FPA Practice Management site:  http://practicemanagementblog.fpanet.org/2013/12/05/action-groups-produce-cooperative-improvement/) Quarterbacks have quarterback coaches; pitchers have pitching coaches; singers have voice coaches; actors have acting coaches.  Top performers require coaches to see flaws and dullness that is blind to one’s own eye.  The best coache ...[Read More]