3 Reasons Investors Should Update Their Investment Policy Statement

Just as regular health checkups with a qualified physician are an important proactive step to maintaining your physical health, regular financial checkups with an experienced financial advisor are an important proactive step to maintaining good financial health.
 
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5 Ways to Tell if Your Clients Are Advocates

In a successful referral-based business, your ideal clients are not just those you enjoy working with but those who enjoy working with you. In fact, these clients think so highly of your business that they become advocates for you.
 
Here are the five elements that must be present for your clients to be effective advocates:
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Highlights from our National Education Conference

At Loring Ward’s recent National Education Conference in San Diego, more than 150 financial advisors gathered to learn new ideas from industry experts and from one another. Here is just a sample of what they heard:
 
“We are honored that you have decided to entrust so many of your clients’ savings to us…and the hopes and dreams these savings represent. Helping clients with the challenges and opportunities of aging and navigating retirement is becoming increasingly important. This is personal for all of us. We want to help you help your clients, but we all have parents and grandparents who need help and guidance throughout retirement.”
Alex Potts, President and CEO, Loring Ward
 
“If you specialize in retirement, does it say that on your website? Could I go on your website and get links to Medicare, AARP and other resources to help with retirement? If you are a retirement advisor, you should be the source of information — and not just financial information — for your clients.”
Barry LaValley, president, Retirement Lifestyle Center
 
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Building Stronger Relationships via Your Digital Ecosystem

Two big revolutions have occurred in marketing in recent years:
 

  1. Marketing has moved from being an art to becoming a science, with an ever-increasing ability to pinpoint the effectiveness (or failure) of marketing campaigns and initiatives.
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  3. There has been a broad move away from product to experience as the key differentiator. As McKinsey Quarterly noted in 2011, “Customers no longer separate marketing from the product — it is the product….In the era of engagement, marketing is the company.”

At Loring Ward’s National Education Conference at the end of September, we will look at what these two revolutions mean for financial advisors and how they establish and nurture client relationships across the digital spectrum, from websites to social media to CRM systems. Some digital ecosystem best practices to keep in mind: Continue reading

Longevity and Continuity Planning Isn’t Just for Your Clients

It was a crisp, clear day in Sedona, Arizona. As an advisor, I was attending my broker-dealer’s 2007 educational conference and had just finished up a session. I was catching up with my business partner in the foyer when the call came in. A long-time friend and colleague of my partner’s had passed away — a financial advisor for over 45 years.
 
He was a model of perfect health. He completed over 80 marathons and was an accomplished triathlete. But even someone in such great shape wasn’t immune from life’s inevitability. He lived a rich and fulfilling 75 years, but now had passed without fully implementing a continuity plan. Continue reading

7 Things to Do Before Hitting the “SEND” Button

Email has become one of the most popular ways to communicate — whether to family, friends, or someone from Craigslist inquiring about that old futon in your garage. Email is also a popular way for businesses to connect with prospects and clients. In a 2015 study done by MarketingSherpa comparing print, TV, email, text message and social media, an estimated 70% of people prefer that companies communicate via email.1 (Unfortunately, this doesn’t mean that you will get a 70% open rate when you send an email!)
 
In partnership with Dimensional Fund Advisors, we recently surveyed more than 1,400 investors and found that when it came to email: Continue reading