The Perfect RIA Why Advisors Lose Clients
5 snips
Aug 1, 2024 Discover the 'rule of two' for enhancing client relationships and preventing losses in the advisory world. An engaging tale from a remote fishing lodge illustrates how management's inflexibility can hinder satisfaction. Jamie emphasizes the necessity of meaningful communication, pushing advisors to address clients' core concerns. Learn about innovative paperwork strategies, like color-coding, to streamline meetings. The discussion highlights how proactive engagement is essential to maintaining strong client connections and fostering long-term success.
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Spouse's Return To Lodge Management
- Jamie's spouse returned to manage a fishing lodge after a protege left unexpectedly due to pregnancy.
- The new management imposed strict schedules that undermined staff satisfaction and confidence.
Fishing Lodge Work Policy Fails
- Jamie shares a story about her spouse managing a fishing lodge with extreme work hours that caused staff discontent.
- This illustrates how rigid policies can lead to mutiny and poor morale even in high-performing teams.
Explain The Why To Motivate
- Always communicate the "why" behind rules to motivate people and show the bigger picture.
- Use real examples to connect tasks to prestige, value, or long-term benefits to increase buy-in.