The Perfect RIA

Hiring can feel like a dream, but what happens when the honeymoon phase fades? Discover the key to building an effective team, from the importance of thorough onboarding to setting clear expectations. Learn how to recognize red flags during interviews and why it's crucial to fix systems before blaming individuals. Micah and Matthew share insights on handling mistakes, fostering accountability, and even navigating tough decisions like firing. Plus, actionable tips to improve team dynamics and performance await!

Dive into the intricacies of team management as experts unravel the significance of quality control and setting boundaries. Learn from their personal tales about hiring and firing, emphasizing clear expectations for a smoother workplace. They explore the psychology behind dismissals and actionable strategies to enhance team dynamics, ensuring that client experiences remain positive. This insightful discussion offers a treasure trove of practical techniques for anyone looking to lead effectively.

Discover the pitfalls of prospect meetings and how to avoid them. Gain insights on creating an effective prospect process using CRM as your firm's 'brain trust'. Learn to identify red flags and dodge salesy tactics that repel clients. Explore the benefits of structured blueprints and consistent documentation. Uncover strategies for engaging prospects who may not hire immediately with creative follow-up techniques. Plus, delve into the fine print of charging for consultations and actionable steps to streamline your client acquisition process.

Dive into the intricate world of prospecting where the hidden reasons behind client refusals are unveiled. Explore how integrity and accountability can transform client relationships. Discover the art of tracking data to refine practices and the importance of trust in financial advising. Learn the surprising complexities of prospecting, debunking the myth that it's easy. Embrace a coaching mindset that prioritizes client success and fosters transparent communication for more fruitful interactions.

Team training is vital for enhancing performance and fostering collaboration. Leaders can spot areas for improvement by creating an environment where team members embrace training. Topics like autonomy, mastery, and purpose drive motivation, and guided discovery makes training interactive and engaging. Effective communication, especially in remote teams, is crucial for camaraderie. Strategies for structured meetings and ongoing evaluations help maintain productivity, while regular feedback refines training effectiveness.

Ted Jenkin, a financial advisor and Fox News contributor, joins Matthew Jarvis to discuss the critical state of the financial advisory industry. They delve into the necessity of de-risking practices amid market fluctuations and the value of merging or selling portions of businesses. Ted emphasizes the importance of understanding market valuations and the potential for growth through strategic talent alignment. The conversation also addresses the upcoming retirement of seasoned advisors and the need for thoughtful succession planning.

Discover how discipline is the cornerstone of success for financial advisors. The hosts delve into the nuances of professionalism in client meetings and the difference between discipline and mere willpower. You'll learn about the psychological impacts of discipline, the significance of self-presentation, and the role of punctuality. With practical strategies for developing effective habits, this discussion provides actionable insights to enhance client relationships and overall effectiveness in the advisory world.

Explore the transformative power of systems over traditional goal-setting for business success. The hosts share engaging personal anecdotes about accountability and structured planning. Discover how short-term goals can yield long-term results through effective time blocking. Learn the significance of vetting professionals before hiring and the value of strategic decision-making. Plus, get excited about a new engagement initiative and a live event on actionable business plans that fosters personal connections.

Shelby Nicholl, a consultant who aids financial advisors in firm transitions, dives into the recent LPL acquisition of Commonwealth and its effects on the industry. She discusses the critical 'fit test' for advisors contemplating a move and the legal complexities surrounding ownership in advisory practices. Shelby highlights the emotional challenges tied to transitions and the necessity for effective communication with clients. She also stresses the importance of regularly evaluating business channels to ensure advisors align with their goals and maintain client well-being.

It’s crucial to know when to stop talking. Today Matthew and Micah share how important it is to hear what the client has to say and why you may need to adjust how you are talking to clients about sales. They will share effective communication strategies that create better understanding and encourage better decisions on behalf of the client. Listen in as they go over an important question to ask at the beginning of a meeting that may create valuable clarity, as well as the role of your ego (and how it often needs to be pushed out of the way so that you can be intentional about leaving room for improvement). You’ll get valuable insight into how to better understand your clients and communicate in ways that actually allow you to deliver massive value. Encore Episode: Stop Talking Yourself Out Of The Sale! Resources in today's episode: - Micah Shilanski: Website | LinkedIn - Matt Jarvis: Website | LinkedIn