January 8, 2015 - A new year has begun! A perfect time to jump on the “New Year’s Resolutions” blog bandwagon and give you our top five resolutions for financial advisors in 2015. And, hopefully you won’t give up on these by March…like your resolution to start going to the gym…or to lay off the soda and sweets.

Scouring the web, you could probably compile hundreds of tips to improve your practice in the new year. Some of these may or may not be on those lists, but they are the ones that we find to be the most valuable. We really wanted to focus on the things that would have the biggest impact on your business.

      1. Invest In New Technology – Using technology can help you automate processes and help you to free up valuable time to focus on what is most important -. Your clients. Technology can help you implement plans, and actively track and manage your clients. Not only will this free up time for you and your advisors, but also your administrative staff, so they can focus on more pressing projects. Cloud based applications can also help you save on IT expenses, as most of these applications come with various levels of built in support.
      2. Re-evaluate Your Marketing Strategy – Getting a client to sit down with you is the first step. But what then? Being able to tell a story is a key factor to building trust and establishing a long lasting relationship. Having the right materials, training, and resources to effectively tell your story and differentiate yourself from the rest can make all the difference in the world. Leave your clients with a memorable experience and give them something valuable to walk away with.
      3. Adopt a Training Program – Having a comprehensive and ongoing training program for advisors  in the practice can greatly increase their effectiveness. Understanding the products they sell, the markets they work in, and the customer they are selling to not only increases their credibility, but once again, establishes a trusting relationship. Training educates them in overcoming objections, and capitalizing on key selling points that will ultimately lead to greater capture of AUM.
      4. Plan for the Future – And you thought this was just about 2015. If you own a business, you are going to have to think a little farther out. As you help your clients plan for their future, you have to think about planning for your own as well. How much is your practice worth? Do you have a succession plan? Check out this webinar from renowned Succession Planning Guru, David Grau Jr., for some sound advice on how to plan for your future.
      5. Partner With the Right Third Party Asset Manager (TPAM) – Here is the one that really brings 1 – 4 around full circle. A TPAM can bring a lot to the table in regards to…well, all of the above.  Many strategists can bring the technology, marketing, and training to the table in one comprehensive package, not to mention the support that goes along with it. It is often much cheaper to partner with a TPAM than to go out and invest in these things on your own.  To make a long story short, partnering with a TPAM can help you align all these aspects of your business with your goals for the future.


If you see the value in these resolutions, and have questions, or are not sure where to start, please contact us at 3D Asset Management. We would be happy to work with you to find the best innovative solutions for your business. Whether you are focused on Wealth Management, Retirement Planning, or Retirement income, 3D will work with you to create real value in your practice.