Building a Better Business: Mastering the 8 Most Important Facets of Your Advisory Practice

1. Building a Better Business:Masteringthe 8 Most Important Facets of Your Advisory Practice Daniel C. FinleyPresident, Co-Founder, Author & Coach Advisor Solutions

2. “For any Challenge that you have ever had… • have now… • or will ever have… • there is always a Solution” • Daniel C. Finley • Advisor Solutions

3. Building a Better Business “I feel like I am treading water and looking for land!” Dan Finley Rookie Financial Advisor 1993

4. Understanding the 8 Most Important Facets of Your Advisory Practice • Time Management • Prospecting • Sales • Relationship Building • Marketing • Client Servicing • Product Knowledge • Portfolio Management

5. Understanding The Advisor’s Business Wheel • The Advisor’s Business Wheel • Record on a scale of 1-10, (1 being not satisfied to 10 being very satisfied) your level of satisfaction for each facet of your business. • Rank the 8 Most Important Facets of Your Business • Time Management = 5 • Prospecting Skills = 6 • Relationship Skills = 8 • Selling Skills = 6 • Marketing = 3 • Servicing Clients = 8 • Product/Market Knowledge = 9 • Managing Accounts = 7 • Plot the Points • Connect the Points • Bring Balance into Your Business

6. Understanding The Advisor’s Business Wheel

7. Understanding The Advisor’s Business Wheel

8. Mastering the 8 Most Important Facets of Your Business

9. The Secret to Mastering Time Management “The Secret to Mastering Time Management is a Two Part Formula: Daily Structure + Interruption Management” Dan Finley Advisor’s Business Coach

10. Common Challenges with Time Management • Not Knowing How to have a Pro-Active • Time Management System • Not Knowing How to • Avoid Interruptions • Not Sustaining a New System • Not Being Able to Track Progress

11. How to Master Time Management • Design Your Pro-Active Time Management Toolbox • Advisor Solutions Daily Score Card • Advisor Solutions Bottom-Line List • Advisor Solutions Time Blocking Worksheet • Advisor Solutions Time Matrix To-Do Worksheet • Design Your Prioritizing System • Create Your Reward System • Track Your Time Management System

12. The Secret to Mastering Prospecting “The Secret to Mastering Prospecting is to Turn Prospecting into a Game; Play the Game Daily and Give Yourself a Prize for a Win!” Dan Finley Advisor’s Business Coach

13. Common Challenges with Prospecting • Not Knowing Your Prospecting • Strengths • Not Having Structure for Your • Prospecting • Not Preparing for Objections • Not Being Able to Track Your Progress

14. How to Master Prospecting • Do a Prospecting Analysis • Learn How to “Frame the • Conversation” • Learn the “Objection-Resolutions Model” • Use a “New Business Strategy List”

15. The Secret to Mastering Sales “The Secret to Mastering Sales is to Always, Always, Always Prepare for the Sale; Nobody ever Regretted Over-Preparing for a Sale!” Dan Finley Advisor’s Business Coach

16. Common Challenges with Sales • Not Knowing How to • Ask the “Right” Questions • Not Knowing How Top Producers • Sell • Not Knowing How to Identify Personalities • Not Being Able to Close a Sale

17. How to Master Sales • Learn Questions-Based Selling • Learn Story-Based Selling • Learn Personality-Based Selling • Learn How to Identify Closing Cues

18. The Secret to Mastering Relationship Building “The Secret to Mastering Relationship Building is to Understand what Emotional Intelligence is about.” Dan Finley Advisor’s Business Coach

19. Common Challenges with Relationship Building • Not Knowing How to • Manage Your Own Inner Advisor • Not Understanding Emotional • Intelligence • Not Knowing Strategies for Building Rapport

20. How to Master Relationship Building • Learn how to Get Off the Emotional • Rollercoaster • Become Aware of Negative Self-Talk • Question Your Negative Belief Systems • Understand Relief Questions • Use Positive Counter Statements • Learn 5 Ways to increase Your • E.Q. • 1. Emotional Self-Awareness • 2. Emotional Management • 3. Self Motivation • 4. Become Empathetic • 5. Relationships Under Management • Learn How to Build Rapport • Voice Matching • Cross over Mirroring

21. The Secret to Mastering Marketing “The Secret to Mastering Marketing is to Understand Your Target Market, Become Visible to Them and have a Sound Follow-Up Process” Dan Finley Advisor’s Business Coach

22. Common Challenges with Marketing • Not Knowing Your Target Market • Not Knowing How to Market • Yourself • Not Having a Follow-Up Process • Not Knowing the 5 Steps to Marketing Your Business • Step 1: Create Your Inspiring Vision of Success • Step 2: Target Profitable Market Niches • Step 3: Research to Discover New Opportunities • Step 4: Position Yourself to Attract Ideal New Clients • Step 5: Communicate Your Benefits Effectively

23. How to Master Marketing • Know Your Target Market • Identify Your Current Ideal Clients- Top 50 Clients • Identify Profitable Rich Niche • Example of Rich Niche: • Market: Business Owners • Segment: Restaurant Owners • Sub-segment: McDonalds Franchisees • Rich Niche: McDonalds Franchisees • Owners in • Minneapolis/St. Paul • Know How to Market for Maximum Visibility • See Me---seminars, picture in paper with article, television • Read Me---articles, newsletters, e-newsletters • Hear Me---seminars, radio • Know Your Follow-Up Process • Input Prospect Information in Contact Management System • Do Not let Your Leads become Cold • Make the Follow – Up Call and FRAME THE CONVERSATION • Set an Appointment or Continue with Drip Campaign

24. The Advisor Solutions’ Marketing Checklist Mapping out the Marketing Checklist • Strategies for Beginning Your Marketing Campaigns • Do you know who your target market is based on your current clients? • Do your know what your rich niche is? • Do you know what organizations they belong to? • Do you know what needs the rich niche market has? • Do you have solutions for those needs? • Do you know how to conversationally position your solutions? • Knowing the Marketing Process • Do you understand your marketing process? • Do you know your marketing visibility strategies? • Do you have at least 3 marketing campaigns mapped out? • Do you have a timeline for accomplishing your marketing strategies? • Do you have a way to track your progress? • Knowing the Follow-Up Process • Do you have your follow-up marketing process mapped out? • Do you have a follow-up marketing script mapped out? • Do you have a follow-up “Drip Campaign” mapped out?

25. The Secret to Mastering Client Servicing “The Secret to Mastering Client Servicing is Service Your Clients or Somebody Else will!” Dan Finley Advisor’s Business Coach

26. Common Challenges with Client Servicing • Not Knowing How to Segment • Your Book • Not Developing Client Servicing • Levels • Not Communicating Your Client Servicing Levels to • Your Clients

27. How to Master Client Servicing • 4 Steps to Segmenting Your Book • 1. Assets Under Management • 2. Yearly Revenue • 3. Likeability Factor • 4. Referral Factor • Develop Your Client Servicing • Levels • Automate Your Client Servicing System • Communicate Your Client Servicing System to • Clients and Prospects

28. The Secret to Mastering Product Knowledge “The Secret to Mastering Product Knowledge is to Understand Your Client’s Challenges and Make it Your Mission to find the Appropriate Solutions” Dan Finley Advisor’s Business Coach

29. Common Challenges with Product Knowledge • Defining the Type of Advisor • You Are • Not having Technical Expertise • Staying the Product Course

30. How to Master Product Knowledge: Creating Your War Chest • Understand the “Defining My • Client & Product Mix Matrix” • Exercise • Gain Confidence through • Technical Expertise & Experience • Back Office Support • A Mentor, Branch Manager or Coach

31. Advisor Solutions’ Product Mix Tool: The Product Mix Matrix Defining My Client and Product Mix Matrix Exercise In five years, my target market will be: __________________ My primary form of prospecting will be: __________________ My secondary form of prospecting will be: __________________ My target market’s general needs are: __________________ The services I provide will be: 1. ________________ 2. ________________ 3. ________________ My target market minimum account size: __________________ How many households can I manage? __________________ My Assets Under Management will be: __________________ (Minimum Account Size X Household) What products are scalable to manage this many accounts? 1. ________________ 2. ________________ 3. ________________ What do I need to do today to increase my product and service expertise?_______________

32. The Secret to Mastering Portfolio Management “The Secret to Mastering Portfolio Management is to Create a Business that is Highly Scalable with Low Maintenance” Dan Finley Advisor’s Business Coach

33. Common Challenges with Portfolio Management • Not Knowing Your Product Mix • Matrix • Never considering if your Business is • Scalable • Not Understanding Your Product • Mix Rule of Thumb • Following too many products • Not Understanding the Truth about the Market • Worrying all day about the direction of the market

34. How to Master Portfolio Management: Creating Your War Chest • Understanding Your Product • Scalability • The Advisor Solutions Product Mix Matrix • Understand Your Product Mix • Rules of Thumb • Use only 3 Fund Families or Less • Follow only 20 Stocks or Less • Use 1 or 2 Types of Management Money Platforms • Use only 1 or 2 Annuity Products

35. Advisor Solutions’ Portfolio Management Tools: The Product Mix Matrix Understanding the Product Mix Matrix

36. How to Understand the Truth about the Market • The Market is Out of Your Control so you must keep working • “S.M.A.R.T.” • “Systematically Managing Activities Requires Training”

37. Advisor Solutions’ Building a Better Business “I feel like I am the lighthouse for those who are treading water and looking for land!” Dan Finley Advisor’s Business Coach 2012

38. Questions??

39. Daniel C. FinleyPrPresident, Co-Founder, Author & Coach Advisor Solutions www.advisor-solutions.com dan@advisorsolutionsinc.com 1-715-262-2040 Take Our Free Advisors Group Coaching Web Tour: For more details, write web tour on your evaluation form!