The Preeminent Advisor Audio Podcast

The review meeting is something that every financial advisor does. But CEG Insights’ latest research suggests it may be one of the most under-leveraged growth tools in wealth management. 

The reason: Your clients want a different experience than the one you’re giving them. Provide your clients with the type of comprehensive reviews they seek, and they’ll reward you—with more assets, more loyalty and more referrals.

Watch, read or listen to find out more on our website for top financial advisors at CEGWorldwide.com.

Just about every financial advisor will tell you they have an organization that values feedback. But in practice, providing feedback often goes poorly for the giver as well as the receiver. 

That’s because feedback is often delivered more as criticism and frustration than as coaching and an opportunity to improve—which, in turn, results in defensiveness and hurt feelings rather than the creation of a better path forward. 

The good news: You can make feedback become a regular, expected and positive component of your business’s culture—turning feedback from a source of drama into a driver of growth.

Watch, read or listen to find out more on our website for top financial advisors at CEGWorldwide.com.

While technology is both ubiquitous and vital to running your financial advisory practice, your clients’ views on that technology—what they want and don’t want from it—could be very surprising to you.

That’s the conclusion of CEG Insights’ latest research into high-net-worth investors’ opinions about fin tech and related issues. The study of more than 1200 affluent investors found that financial advisors may be using and positioning their technology in ways that could actually hurt their growth instead of helping it. 

Watch, read or listen to find out more on our website for top financial advisors at CEGWorldwide.com.

It’s well known that successful, driven entrepreneurs can be the best clients for financial advisors today. High-net-worth business owners have both substantial assets and complex needs that require high-quality expertise.

Trouble is, far too many financial advisors who work with entrepreneurs aren’t serving them well. The evidence: A full 59% of entrepreneurs recently told CEG Insights that they plan to switch their primary advisor (or bring in an additional advisor) within the next 24 months.

Watch, read or listen to find out more on our website for top financial advisors at CEGWorldwide.com.

When a high-net-worth client comes to you with a major life event—a business sale, a significant estate question, or maybe a liability exposure they hadn't thought about—what happens next?

Elite financial advisors do all these things. And the way that they develop these capabilities is by having a professional network of other elite experts they work with to identify solutions to clients’ biggest issues.

Watch, read or listen to find out more on our website for top financial advisors at CEGWorldwide.com.

We see it all the time—financial advisors who are incredibly skilled and dedicated to their clients, but who come across like virtually every other advisor in the business. These financial advisors may be exceptional at their job, but practically nobody who might hire them or give them referrals can tell them apart from the rest of the pack.

Sound familiar?

There are two key steps to differentiating yourself and your practice.

Watch, read or listen to find out more on our website for top financial advisors at CEGWorldwide.com.

Most financial advisory firms pour an immense amount of resources into hunting for new clients—refreshing their branding and implementing new marketing strategies to capture new households. That’s not a bad approach to business development—but it’s also probably not the optimal one.

Instead, your biggest growth opportunity is very likely to be found among the top existing clients you’re already serving.

The reason: The average financial advisor today manages only about 44% of their clients’ investable assets. That means more than half of the wealth belonging to people you already work with—and who presumably like you, trust you and pay you fees—is being managed by someone other than you or sitting in accounts you don’t know about.

Our advice: Ease up on hunting for new clients and put more effort into harvesting the opportunities that are right in front of you through your existing relationships.

Watch, read or listen to find out more on our website for top financial advisors at CEGWorldwide.com.

Watch, read or listen to find out more on our website for top financial advisors at CEGWorldwide.com.

The biggest growth opportunity in your practice may not be “out there” somewhere among new potential clients. It could already exist in your current book of business—the top clients you already serve.

We all know wallet share is a key driver of growth. But how to capture more of it? The key is rediscovery—a process that essentially helps you get to know your clients all over again so you can identify opportunities to deliver new types of value to them, capture additional assets and generate significant revenue growth.

Existing client rediscovery can empower you to boost your revenue in five key ways.

Watch, read or listen to find out more on our website for top financial advisors at CEGWorldwide.com.

Instead, you need to be selective by identifying a small handful of top COIs who can really help you grow your practice and who also can benefit by associating themselves with you. To hone in on potentially ideal candidates—and avoid wasting too much time on people who don’t fit the bill—CEG Worldwide’s Elite Advisor Strategist Jonathan Powell recommends that advisors have two meetings with the COIs who end up on their short list.

Watch, read or listen to find out more on our website for top financial advisors at CEGWorldwide.com.