Last week the Association of Financial Advisors named its 2013 Advisor of the Year.
All the businesses and advisors that were nominated were put through a rigorous process that involved an assessment of client engagement as well as systems, processes, community involvement, leadership and the advice proposition.
What made the 6 finalists and ultimate winner stand out from the crowd?
It is apparent that clients value the financial planning process. Data from the Beddoes institute confirms that once clients start taking advice they get incredible value out of the process. They are happier, more likely to refer and maximise the possibility of living a financially secure life. Clients point to aspects such as the personal qualities of the advisor, understanding the process and feeling that the advisor understand them, as key components of client satisfaction.
What these businesses, these finalists, do goes beyond those client pre-requisites.
These award winning businesses :
- have defined in client terms what it is that they do so clients can easily articulate the value in their own words
- consequently have referral rates from existing clients well into the 90% levels
- have dynamic, client focussed communication methods that allow trust to be built before they have even met a protective client
- on meeting a new client, take the client through a process that defines what a clients values and motivators are with clarity and resonance
- they deliver advice that is connected to these values and the advice is delivered by a team
- have teams that understand what it is that they are providing and the impact on each individual client
- set benchmarks in the client journey and celebrate and acknowledge theses milestones with clients
- have multiple methods of communication with their clients
- are active in their community
- lead industry discussions
- share their experiences and successes with peers
But most of all these award winning businesses know who they are as a business as individuals and are true to label.
They celebrate themselves, their clients, their staff and their community each step of the way.
Congratulations.
Showing posts with label #afaau. Show all posts
Showing posts with label #afaau. Show all posts
Sunday, 20 October 2013
Friday, 2 November 2012
Believing in Unicorns - the power of purity of intent
The mythical unicorn. According to http://www.unicornleanmanufacturingchangemanagementservices.com/about-unicorns.htm
- unicorns are fierce yet good, a symbol of strength endurance and agility, perserverance, wisdom and playfulness, purity, love hope and majesty.
Further to find the unicorn again it is suggested we must unlearn old lessons, seek new paths, stop and listen to guidance and look deep within ourselves for the right answers.
For those in financial services, it is our role to guide our clients then to finding the unicorn meaning in their lives - to have our clients look at their journey, guide them along new paths to a desired destination and teach them to develop a vision that needs to come from deep within so that it satisfies their often unspoken needs.
Doing that ensures the connection between what a client really wants and what the design of the clients strategy to achieve needs to be. It provides our clients with the knowledge that empowers them to understand and recognise the effectiveness of the path that they choose.
Your advice in this process is then invaluable. Those advisers who connect with clients in this way are described by their clients in a way that transcends the advice piece itself. Clients of these advisers have the feeling that their advisers simply "get me" they understand them and their deep needs and motivations. These clients and the relationships they have with their advisers are ones of friendship, coach, guide, confidante.
This can't be delivered unless the adviser themselves embodies the unicorn spirit.
We talk now of "best interest" and what that means. More paperwork? A statement of intent? A promise? Best interest is a way of being.
Unicorn advisers are leaders who are fierce yet good, symbols of strength endurance and agility, perserverance, wisdom and playfulness, purity, love, hope and majesty.
These remarkable individuals have unlearnt old lessons, sought new paths, stopped and listened to guidance and have looked deep within themselves for the right answers.
They embody what it means to lead. They change people's lives for the better. And they reach far beyond their businesses into the wider community as they inspire and allow people to dream again.
- unicorns are fierce yet good, a symbol of strength endurance and agility, perserverance, wisdom and playfulness, purity, love hope and majesty.
Further to find the unicorn again it is suggested we must unlearn old lessons, seek new paths, stop and listen to guidance and look deep within ourselves for the right answers.
For those in financial services, it is our role to guide our clients then to finding the unicorn meaning in their lives - to have our clients look at their journey, guide them along new paths to a desired destination and teach them to develop a vision that needs to come from deep within so that it satisfies their often unspoken needs.
Doing that ensures the connection between what a client really wants and what the design of the clients strategy to achieve needs to be. It provides our clients with the knowledge that empowers them to understand and recognise the effectiveness of the path that they choose.
Your advice in this process is then invaluable. Those advisers who connect with clients in this way are described by their clients in a way that transcends the advice piece itself. Clients of these advisers have the feeling that their advisers simply "get me" they understand them and their deep needs and motivations. These clients and the relationships they have with their advisers are ones of friendship, coach, guide, confidante.
This can't be delivered unless the adviser themselves embodies the unicorn spirit.
We talk now of "best interest" and what that means. More paperwork? A statement of intent? A promise? Best interest is a way of being.
Unicorn advisers are leaders who are fierce yet good, symbols of strength endurance and agility, perserverance, wisdom and playfulness, purity, love, hope and majesty.
These remarkable individuals have unlearnt old lessons, sought new paths, stopped and listened to guidance and have looked deep within themselves for the right answers.
They embody what it means to lead. They change people's lives for the better. And they reach far beyond their businesses into the wider community as they inspire and allow people to dream again.
Tuesday, 30 October 2012
The Power Of Great Stories #afaau AFA 2012
The AFA conference of 2012 wrapped up last night with all the glitter of a diamond encrusted satellite and the suspense and thrills of a car chase reminiscent of Diamonds Are Forever and Quantam of Solace as the James Bond theme added to the 10th anniversary of a celebration of quality advice and community.
The conference was at its core a celebration of an industry that often maligned by the media has as its essence the best interests of Australians always at the forefront of its mind.
There was not a session where the benefits for the client was not considered. There was not a session where peers did not share ideas, where stories were told.
It was in fact a celebration of great client stories.
This was embodied by the stories of the 6 finalists. Olivia Maragna, Jenny Brown, Michelle Tate-Lovery, David Clark, Mark Rando, Dennis Jones....take another collective bow.
Olivia : an inspiring leader, pro-bono work, support of orphanages and active with her peers
Jenny: an education junkie, a communicator and educator herself, a mentor and connector
Michelle: an educator and implementer and passionate advocate for the industry
David: the IT genius with the creation of a client engagement process, active in community and charity work
Mark: a mentor, advocate, presenter and fund raiser
Dennis: a process driven client engagement guru, demystifying the financial planning process
What enables these leading advisers to engage a clients whole person planning is that these advisers are themselves examples of whole person development. Self aware, charismatic, empathetic and highly emotionally intelligent these advisers embody the characteristics of leaders : true leaders who are leaders not because they have had created that mantle for themselves but they are leaders because people want to follow them.
Further they have at their disposal and they tell with candour, honesty, belief and conviction their own stories.
As a client, as a staff member, as industry peers as businesses you can't help but reciprocate.
May we look to these leaders and develop our stories and tell them with the passion that these individuals embody. If we do that, then this industry has a bright future and what comes with that is a better Australia : one of rich community ideals and values and where people take an active role in living well and looking after their families through the guidance offered by the value of financial advice.
The conference was at its core a celebration of an industry that often maligned by the media has as its essence the best interests of Australians always at the forefront of its mind.
There was not a session where the benefits for the client was not considered. There was not a session where peers did not share ideas, where stories were told.
It was in fact a celebration of great client stories.
This was embodied by the stories of the 6 finalists. Olivia Maragna, Jenny Brown, Michelle Tate-Lovery, David Clark, Mark Rando, Dennis Jones....take another collective bow.
Olivia : an inspiring leader, pro-bono work, support of orphanages and active with her peers
Jenny: an education junkie, a communicator and educator herself, a mentor and connector
Michelle: an educator and implementer and passionate advocate for the industry
David: the IT genius with the creation of a client engagement process, active in community and charity work
Mark: a mentor, advocate, presenter and fund raiser
Dennis: a process driven client engagement guru, demystifying the financial planning process
What enables these leading advisers to engage a clients whole person planning is that these advisers are themselves examples of whole person development. Self aware, charismatic, empathetic and highly emotionally intelligent these advisers embody the characteristics of leaders : true leaders who are leaders not because they have had created that mantle for themselves but they are leaders because people want to follow them.
Further they have at their disposal and they tell with candour, honesty, belief and conviction their own stories.
As a client, as a staff member, as industry peers as businesses you can't help but reciprocate.
May we look to these leaders and develop our stories and tell them with the passion that these individuals embody. If we do that, then this industry has a bright future and what comes with that is a better Australia : one of rich community ideals and values and where people take an active role in living well and looking after their families through the guidance offered by the value of financial advice.
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