With fall upon us, prospecting for new clients is about to kick into high gear. An often forgotten first step in preparing to prospect is creating the time to do it. Time management for financial advisors is crucial to ensuring a productive workweek and maintaining a healthy work-life balance...
In 1985, I conducted what I believe to be the first study in the financial services industry to see what advisors do with their time. During the course of this study, I made a surprising discovery:
Financial Advisors were worth at least $1,000 an hour when they were meeting and talking to qualified clients and prospects.
I’ve conducted that study again and again. Today, financial advisors are worth $1,500 per hour. Read that again. $1,500 an hour! That’s how much you’re worth.
But is it how much you’re making?
If the answer is “NO” or “I don’t know”, then it’s time to act. The first step, of course, is to build a proper team. The second step is to maximize the number of sales contacts you make during the time available for work. To do that, you need a “Model Day”. Check out this webinar with our Sr. VP of Client Success, Matt Hicken to learn more.
The third step is to increase your own productivity.
While I’ve conclusively proved that a financial advisor is worth at least $1,500 an hour when meeting and talking with clients, there are always other tasks that need your attention. Emails must be answered. Tasks need to be dictated to your staff. Records need to be kept.
These tasks can be a rabbit hole and take away from the activities that make you worth $1,500 an hour. The solution? Do them more efficiently. Do them more quickly. Do them better.
Rather than a dictation service, this is dictation software. I use it whenever I need to dictate larger blocks of text than Copytalk can handle. If you take the time to train on the program (especially if you are a lousy typist), this will be a huge boost to your productivity.
You already own this. It’s built into Outlook and Word. But you need to practice it. I’ve linked this video for instructions on creating and naming Auto Text entries.
Remember, you are worth $1,500 an hour when meeting and talking with clients and prospects. Whether you actually earn that much depends on your own productivity. Now you have the tools to take your productivity to the next level.
Of course, it’s not enough just to have the tools. You also need a System to help you use them properly. That’s where Bill Good Marketing comes in.
The Bill Good Marketing System is a computer-based, client marketing, prospecting, and practice management system. From our extensive library of strategies, procedures, and documents to our personalized coaching services, we have everything you need to build a proper team, manage time properly, and increase your productivity.
So, ask yourself: do you want to be more productive?
Do you want to do more, sell more, and grow more?
If so, give us a call.
Every day, thousands of advisors go into their office, close the door, and look at their massive “todo” list. And every day, thousands of advisors make the same mistake. To explain what that mistake is, picture this scenario: It’s time to mow the lawn, so you get out your mower and start working on your front yard. On the ...
One of the monumental challenges advisors face in this business is making enough time for clients, prospects, administrative functions, and everything else that needs to get done. So, without any doubt, an advisor’s most valuable resource is their time. As an advisor, your time is worth $25 a minute. (Yes, you read that right...
In 1985, I conducted what I believe to be the first study in the financial services industry to see what advisors do with their time. During the course of this study, I made a surprising discovery: Advisors were worth at least $1,000 an hour when they were meeting and talking to qualified clients and prospects. I’ve conducted that study again ...
