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The Perfect RIA
The Power of Personal Growth,Value Adds and Freedom in Your Practice
Aug 23, 2024
Aaron Palmer, who shares his inspiring journey to sobriety, joins the discussion on overcoming industry challenges like addiction and achieving work-life balance. He emphasizes the importance of value-added services in financial advisory, like conducting unclaimed property searches. The conversation also touches on transitioning from growth to freedom in practice, with insights on client selectivity and effective systematization that allow advisors to focus on high-value activities. It's a powerful blend of personal experience and professional strategies.
07:10
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Quick takeaways
- Incorporating simple but impactful value-added services like unclaimed property searches enhances client relationships and demonstrates unwavering commitment to their financial well-being.
- Transitioning to the freedom stage in an advisory career involves reassessing client relationships and implementing systems that prioritize business development over mere office presence.
Deep dives
Value Adds for Client Engagement
Advisors can enhance their client relationships by incorporating value-added services that are both simple and impactful. One example shared involves conducting unclaimed property searches for clients, which not only helps clients reclaim potential assets but also demonstrates a commitment to their financial well-being. An advisor recounted how he found $10,000 for a client from an unclaimed IRA, which significantly illustrates the positive outcomes of this approach. Such fundamental yet effective strategies show clients that their advisor cares beyond merely managing their money, fostering a deeper sense of trust and engagement.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode