Grow Your Financial Advisory Business And Increase Productivity

grow your financial advisory business increase productivity financial planner advice wealth manager patrick tucker true measure wealth management

Productivity. How do we measure it? How do we maximize it? And how do we spend less time getting more done? I don’t think there’s anything worse than spending a whole day feeling busy with nothing to show for it. Before I learned how to prioritize my time, I was focused on all the wrong areas, maybe like you are now. Areas that weren’t growing my business. One day I asked myself, “how do I become my best-self and what does that look like?” So I started on an acquisition of knowledge and skill through my experiences, mentors, and studies. By prioritizing my efforts and time I was able to acquire $125 million in assets under management with one employee and by referrals only. Here’s where I started: 

 

1.      Focus on Learning

Our industry loves to focus on the market. And although you should definitely be aware of it, the energy we spend on trying to predict it, won’t change it. Once I realized this, it became obvious to me that I’d been wasting my time. Instead of focusing on the market I started focusing on learning and acquired and applied wisdom. First, I’d challenge you to identify what type of learner you are. Peter Drucker has an excellent little book that will help you identify how you best learn called, Managing Oneself.

 

2.      Learn to learn and increase the speed at which you learn

Previously you may have spent your time reading the Wall Street Journal from cover to cover, much like me years ago. But now I want you to focus on the areas you may have never studied before. The soft sciences that make you a master of people and help you build relationships, centers of influence, and yield business growth. I’d challenge you to read 4-5 books a month; studying the topics of:         

  • Psychology
  • Sociology
  • Human behavior
  • Happiness
  • Fear
  •  Vulnerability

 

3.      Become an Expert on People

Essentially we’re financial care givers. As financial advisors I think we all have servant hearts that want to see our clients succeed, reach their goals, and become their best-selves.  Studying the soft sciences will help you learn personality types, help you better serve your clients, and allow you to identify what type of client best fits your entrepreneurial advisory businesses. Your efforts will:

  • Grow your understanding of people
  • Teach you how to Behaviorally manage your clients
  • Become an Expert on people
  • Provide empathetic guidance
  • Understand all that might influence you
  • Build Relationships
  • Build Centers of Influence

 

I’ve been where you are: focusing on all the wrong things and not acquiring the business I know I can. I’m essentially asking you to shift your mindset and focus your efforts on topics that help you become an entrepreneurial financial advisor and I won’t let you do it alone. I want to share in my successes, help financial advisors grow just like I did, and provide the resources for you to be successful.

To continue learning, be sure to check out “The Entrepreneurial Financial Advisor.” And if you found this article helpful, be sure to subscribe by clicking the button below to recieve my newsletter with more great tips on how to be the best you can be!