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Friday, March 31, 2023

Mindy Diamond on Independence: Recommendation for Advisors and Groups

Development is one subject that’s high of thoughts for many each advisor—no matter the place or how they observe.

But development for development’s sake isn’t a sound technique, significantly when trying on the lengthy time period.

The true focus needs to be upon constructing a permanent enterprise designed for optimum enterprise worth—or “exit worth” as Ray Sclafani calls it.

And because the CEO and founding father of ClientWise, Ray constructed a enterprise round serving to advisors do exactly that.

It’s a singular vantage level that Ray first developed in his 20-year tenure at AllianceBernstein. As one of many firm’s high gross sales professionals and govt leaders, his information of find out how to create and execute on extremely profitable gross sales plans and construct long-lasting shopper connections was later utilized because the founder and managing director of the Advisor Institute at AllianceBernstein.

In that function, Ray developed and directed an intensive sequence of packages that proved invaluable to advisors in creating improved and sustainable motivation, gross sales and shopper relationships.

It was in 2006 that Ray left AllianceBernstein to launch ClientWise to take that have and assist monetary advisors and their groups drive sustainable, intentional development; maximize the worth of their enterprises; improve crew efficiency; and develop next-gen advisors to guide the agency into the long run.

It’s a roster of companies that’s catapulted ClientWise to change into one of many high teaching companies to monetary advisors within the business.

Ray joins Mindy Diamond on this episode to share a few of his greatest recommendation on development, maximizing worth, crew constructing, succession and way more, with recommendation for unbiased and worker advisors alike, together with:

  • The variations between unbiased and worker advisors—and why Ray considers the latter “intrapreneurs”;
  • The true worth of constructing an enterprise—and what he refers to as “exit worth”;
  • The key to profitable groups—and find out how to construct actual “interdependency”;
  • The fact about productiveness—and what obstacles he feels needs to be eliminated on the wirehouses;
  • The important thing focus areas of the very best groups—and what they’re doing in a different way than their much less profitable friends;
  • Greatest practices for creating subsequent gens—and why they’re not going to copy the strategy of the era earlier than them;
  • Asking for referrals vs. constructing shopper advocates—and which strategy works greatest; 
  • And way more.

It’s an episode with tangible data and actionable recommendation for worker advisors and unbiased enterprise house owners alike from one of the vital sought-after coaches within the business.

Obtain a transcript of this episode…

Hearken to extra episodes of Mindy Diamond on Independence: A Podcast for Monetary Advisors Contemplating Change

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