I want to talk about the principles of leverage and optimization .
In my 26 years coaching financial advisors, I've noticed one bad business practice -- it’s advisors who overlook opportunities that are right in front of them. This is because most advisors operate under assumptions.One, they assume that they have a great relationship with their clients.Two, they assume that these clients will declare when they change status -- which is simply not true.One of the minimum standards of care that I work on with my clients is to create a 1 to 2 page balance sheet or net worth statement. This will keep you updated with the client’s current status thereby allowing you to help them achieve their financial goals.Here’s what I want you to think about, If you were to look after all the clients that you are responsible for, how would you do it? What percentage of them has a balance sheet that is less than 12 months old? And is it part of your review protocol with your client to execute and/or update that balance sheet?Watch to learn more on how to leverage your review process so you stop leaving revenue on the table!
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