by Tony Vidler
Advisers frequently settle for being average, and it is definitely not because they want to be average but because they don’t really know what it takes to elevate their performance exponentially. Average adviser performance can be turned into outstanding adviser performance by making the changes that make the difference.
The average advisers often ask how someone else can be so much more successful than they are and assume that there is some magic at work.
The differences between the high performers and the average ones are not magic, and nor are they unachievable for the majority. In fact, it is mostly about being better organised, being more transparent, and communicating better. These are elements that any adviser can work on immediately.
High performers are better at understanding their clients key expectations:
They get more information and know their clients better.
They listen better.
High performers also focus on the financial factors that their clients care most about, which are:
They are focused on what matters to the client.
They put the clients interests first.
The high performers core business attributes?
They play to other people’s strengths.
They have high expectations.
Compare this to the attributes of the less-than-average adviser:
As the two types of adviser are compared it becomes obvious quite quickly that the difference between the high performers and others largely begins within the advisers own mindset and attitude. Particularly the attitude towards clients. The approach they take to their clients would actually appear to be the primary point of difference when you get right down to it.
Combining that attitude with some sound commercial and management skill and a willingness to invest in building a business rather than executing transactions is the “magic” if there is any.
Building leverage within the business and the customer experience with a great support team that plays to individuals strengths then leads to exponential growth. Add in constant quality communications and a client service focus which improves account retention and you have a winning business model.
It begs the question: If that is all it takes, why would anyone settle for average adviser performance?