BUILDING A PLANNING BUSINESS
Tim Welsh (center), CFP and founder of consulting firm Nexus Strategy (www.nexus-strategy.com), poses with Laserfiche sponsors (www.laserfiche.com), a document management product for financial advisors and allied institutions.
Welsh, along with compliance expert Thomas Giachetti provided a breakout session called "The Technology Impact of the Dodd-Frank Reform Bill on Financial Planners." Welsh also spoke about "Leveraging Web 2.0 Technologies to Better Communicate with Your Clients and Attract New Prospects." Finally, Welsh offered a keynote presentation called "New Technology Secrets of Top Performers.´´
FPA is offering handouts and recordings of all sessions, singly or as a set. Learn more at
Getting Advice - From Clients
Stephen Wershing, CFP, creator of the Client-Driven Practice system (www.advisorchecklist.com), told the audience how to create and use a client advisory board to inform their marketing efforts and build their businesses. In "Role Reversal: Engaging Your Clients as Your Advisors," Wershing said that tailoring your practice to the specific needs of target prospects is the most effective way to increase referrals and greater share of wallet."A client advisory board can help you deepen relationships," he said.
Finding a Better Way
Don Whalen, CFP, co-founder of Spectrum Input, LLC (www.spectruminput.com), demonstrated his cloud-based software service for financial advisors."About four years ago, it was obvious to me that there was a better way to gather financial planning-related data from clients and prospects. Not only did I dread having to manually enter data into my financial planning software and (customer relationship management system), but I was also getting push-back from my clients who didn't want to fill out my paper-based questionnaire -- no matter how elegant I tried to make it," Whalen said.
Measure, Then Manage
Deena Katz, CFP, a thought leader and columnist for Financial Planning, chats with a well-wisher at the conclusion of her session at the FPA Business Solutions Conference 2011. "What you can measure, you can manage," was a key theme in Katz's presentation, "Driving Practice Performance."
Speaking of the Future
Deena Katz, Julie Littlechild and Marie Swift, three of many industry experts who spoke at the FPA Business Solutions Conference 2011, pause to say hello after delivering their various presentations.
Katz, co-founder of Evensky and Katz (www.evensky.com), also serves as an Associate Professor at Texas Tech University. She spoke about future industry trends that will shape practice challenges and drive future business performance.
Littlechild, president of Advisor Impact (www.advisorimpact.com), presented her latest research findings during her general session, The Economics of Loyalty: Anatomy of the Referral. Read an article that provides additional detail about Littlechild's presentation here:
Swift, president and CEO of Impact Communications (www.impactcommunications.org), captured the photos in this photo essay. Swift was a part of a panel presentation that discussed Best Practices When Using Social Media.
The Key to Referrals
In "Know More! Referrals: Using Technology to Generate More Prospects and Land More Clients," ActiFi senior vice president Sam Richter shared dozens of quick tips and insights on how to use the impersonal web to personalize our referrals. The key R, according to Richter, is Research. Use research, he said, "to determine what´s going on in the other person´s world, and tie that into how you can add value. When you take the time to learn about the other person, you will build mutually beneficial and valuable relationships," Richter said.
Know What You Offer - And Stick to It
Mike Watson, a practice management expert with TD Ameritrade Institutional (www.tdainstitutional.com), presented a luncheon keynote address at the FPA Business Solutions Conference 2011 in Cambridge, Mass. In "Finding Your True North," Watson said that knowing who you are, whom you best serve and what you offer is critical to growing a successful advisory business. He discussed the importance of understanding your value proposition and sticking to it, knowing your ideal client and defining your product, service and pricing models, as well as best practices for creating a strategy document.