It might be tempting for advisors to take on as many clients as possible. Steven A. Plewes, CLU, ChFC, a 34-year MDRT member from Naples, Florida, says that having a clear idea of what kind of clients you work with allows your business to achieve an important level of consistency. If not, you may have 200 clients and do things 200 different ways. When everyone fits the process, there are no one-off clients.
“That way, we can create an economy of scale,” Plewes said. “We’ve walked away from some business of late because they didn’t really fit into our process.”
It’s not that the client isn’t important, of course — it just means that the strength and identity of the clients inform that of the organization.
See more about the processes advisors use to run their business in the following videos:
- “Build a lasting business: Inside high-performing offices“
- “How processes drive success”
- “From surviving to thriving”
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