The role of humor in leadership
By Karyn Buxman, CSP, CPAE Great leaders understand the important role humor can play in resilience. The time was one of the darkest in America’s history: the Civil War. In a meeting...
Tag Archives: financial planning
How I determined I had to see more than one client at a time
By David Batchelor, CFP, Dip PFS During my first eight years in practice, I had amassed a significant number of clients. At that stage, I didn’t understand the difference between a...
3 mistakes to avoid when compensating junior advisors
By Jason L. Smith When it comes to compensation for junior advisors, companies often make the following mistakes: Giving them too much of the revenue off the sale they make. For example,...
Are you making these hiring mistakes?
By Fred Matulka As managers, your best workers require little of your time, while your struggling or poor performers take most of your time. It’s as if you are herding cats,...
4 important questions to ask yourself
A little more than 10 years ago, Devang Patel, CFP, CLU, was at a crossroads. The now-14-year MDRT member from Edison, New Jersey, was working very hard but neither seeing...
5 steps business owners can take to ensure a good transition
By David Grau Jr. Purchasing a business, especially from a family member or mentor, takes time and a willingness to have awkward conversations. The transition plan needs to include discussions on...
Working with low-net-worth millennials who may be averse to fees
To some clients, a small percentage change in fees will not make a huge difference. For millennial clients — many of whom are early in their careers and figuring out...
The advantages of hosting casual dinners without talking business
Some advisors gather prospects together for a meal that also includes a presentation illuminating what they do and how that can benefit the attendees. Ozer Culhagil, Ph.D., an eight-year MDRT member...
How to encourage different types of clients to make decisions
If you have earned MDRT membership, you are good at it. But getting prospects to make decisions in the face of uncertainty is a challenge that never goes away. It can...
What to do and not to do to create a waitlist practice
By Tracey Karen Diana Devonport Just imagine having a practice so in demand that you’re never actively prospecting and new clients go on a waitlist to see you (and they’re prepared...
Realizing that work-life balance is not just possible but preferable
Everyone has a different definition of what a balanced life looks life. But no one, it is safe to assume, would argue that a schedule consisting of 95 percent work, leaving...
Why many advisors increase staff morale through flexible approaches to time
Brian Nicholas Byars, a one-year MDRT member from Covington, Georgia, said when he focuses on what’s important for staff, staff will focus on what’s important for his seven-advisor practice in...
How the little things make a big impact on staff morale
When it comes to creating a positive culture, even something that may seem elementary can go a long way toward motivation and camaraderie. Renee Hanson, CFP, CDFA, who oversees the seven...
An easy way to know what important people expect from you
If you asked your spouse or your staff how they define the best possible version of you, what do you think they would say? Daniel O’Connell, MBA, a 10-year MDRT member...
Why 1 member uses 12 coaches
Even LeBron James has a coach. This simple, accurate, oddly profound statement comes from Devang Patel, CFP, CLU, who uses 12 — yes, 12 — coaches to aid his practice. “It’s...
