Practice

Explaining market timing cheques to clients

(September 23, 2005) Settlement cheques began arriving this week to compensate mutual fund unitholders who were adversely affected by market timing. Although it’s early, some advisors are already beginning to get phone calls from their clients, inquiring about this “found money”, where it came from, and how it might be taxed. In June, the Ontario […]

By Kate McCaffery |September 23, 2005

4 min read

Planning and Advice

Strong website good for business: survey

(September 21, 2005) Thinking about cutting your online budget? Think again. A feature rich website is a good investment — and that doesn’t come cheap. Two of every three Canadian financial advisors say the quality of an asset manager’s website will determine if they will do business with that firm, according to a survey by […]

By Mark Brown |September 21, 2005

2 min read

Planning and Advice

Less is more (Part 2 of 2): Making right sizing work for you

(September 2005)In part one, I made the case for right sizing your practice and outlined the Triple A approach to determining which your clients are really your ideal clients. To read Part 1, please click here. Let prospective clients convince you there is a good fit Once an advisor has created an ideal client profile, […]

By Duncan MacPherson |September 15, 2005

5 min read

Planning and Advice

Tech tips for independent advisors

(September 2005) Technology risks are showing up more frequently and moving more quickly than ever before. Advisors working in large corporations tend to have the benefit of a qualified IT department at their disposal to work on these things, but independent advisors or anyone responsible for their own technology have a whole host of considerations […]

By Kate McCaffery |September 15, 2005

7 min read

Network hubs: Use professional associations to generate more referrals

(September 2005) In a recent workshop for a national dealer a few days ago, I spoke briefly about the concept of building “network hubs” to generate referrals. As I explained then, a network hub is an influential associate who functions as the “hub” of larger professional networks. By building relationships with these people, you gain […]

3 min read

Managing change

(September 2005) Competition’s increasing, and not just from other financial advisors. You’re also faced with losing business to a range of professional specialists, including accountants, lawyers and insurance professionals, who have incorporated investment advice into their practices. According to a study of 579 Canadian financial advisors (see chart) nearly nine in 10 top advisors believe […]

2 min read

Less is more (Part 1 of 2): Making the case for right sizing

(September 2005) There is an old saying that suggests that there is a fine line between being in a groove and being in a rut. Nowhere do I see that to be more evident than among high-level financial advisors. A common concern I hear from many high achieving advisors is that they feel they have […]

4 min read

Building your professional referral sources

(August 2005) A clear indication of a successful financial services practice is the number of high-quality referrals that come from other professionals, peers, and community leaders. Ten years ago, I remember reading about how important it was to contribute time and money to meet influencers of charitable organizations. Not good enough today. Joining professional associations […]

4 min read

Taking your practice to the next level: Rich friends

One way to successfully cultivate a market is to know it inside and out. For advisors seeking to reach the elite level, this means developing a deep knowledge of affluent investors. North America has seen a substantial increase in the number of affluent individuals in recent years. Estimates on the size and growth of the […]

4 min read

Mapping Financial Genes

(August 2005) The financial services industry is a peculiar mixture of art and science. Crunching numbers, analyzing stocks, poring over financial data – that’s the science part of the business. Building relationships, interpreting client needs, motivating clients to act – that’s the art. Is one of these more important than the other? I think so. […]

4 min read