Financial Advisor case study

Project

Help a colleague, James Ayers, a financial planner with Northeast Planning Associates, Inc.,grow his income by at least 30% while providing a higher level of service to his top clients. “I want to be able to make enough money to give away money,” James said, “and instill into my two
children the idea of giving – your time and your treasure.”

 

Objective

Provide a quantitative approach to help James grow revenue at a rapid pace. “I was realizing average growth,” James said, “but I needed ‘Miracle Grow.'”

Help him create strategic relationships to penetrate industries James said he could not penetrate alone.

Position James to generate 10 to 15 quality contacts – James calls them life touches – to generate the necessary referrals. “Touches are the basis of letting people know you care,” James said.

 

Strategy

Prioritize and focus. Realize you can’t do everything.

Supplement planning James already had done with a plan that encouraged reaching out to people more – being totally involved not only in their financial picture but in their lives.

James wanted an outside eye – someone to help him see his industry from a different perspective.

Work with James to provide a business plan that is specific about what it will take – and over what period of time – in order to accomplish his goals.

Be specific about where James needed to spend his time and where he needed to delegate.

Take advantage of technology to create more business.

 

Tactics

Change his opening presentation to prospects to point out he works by referral. This lets people
know James’ focus is on them, not elsewhere.

Research potential partnerships and industries and prioritize each.

Form a strategic partnership in the federal government sector.

Conduct federal government webinars.

 

Results

James has enjoyed a 65% increase in revenue since May, 2012. His business plan was fully implemented in July of that year. “Without the guidance and the direction of the plan, I would have never been able to achieve this,” he said.

He formed a strategic partnership with a financial advisor in the federal government sector, and leveraged that advisor’s knowledge of the federal government.

A focus on technology resulted in webinars, where James was able to reach out to federal employees.

“Before, I was a one-lane robot with the ability to build a super highway but without the infrastructure,” James said. “The plan provided that structure. And it will continue to pay dividends.

“I now have a better process in place to serve my clients – a better process for gaining new, high-quality relationships. I have a better understanding of how important those people are to my business.

“People are my business.”