What makes a good fiduciary?
Remind clients of what you do and can do for them!
This experience teaches all of us that client relationships, no matter how strong they might appear, are better protected when an advisor follows a set of well-tested disciplines. We want to put you in a position where you never have to defend or justify your role or your fee, because it’s obvious to your clients how you are earning it.
Here’s a look at a few good reminders:
1. Have your house in order first!
You have to be able to lead yourself before you can lead your team. How do you encourage your team to take care of themselves?
2. Creating a thriving environment
Put your client first. Do they see the difference you make in their lives?
3. Live your brand
It’s all well and good to stand for something, but it can’t be just words. You have to live it, not just believe in it. Do your clients experience the benefits of your vision?
4. Repeat after me
Policies ought to be written down, transparent and transferable. Make sure your services are reliable and scalable. Do you have a defined process, or are you just winging it?
5. Earn your fee, scale and grow
Communicating with clients is about having meaningful, connected conversations, which should include the ones where you explain what differentiates you and makes you worth their investment. Again, do you remind them of the breadth and depth of your services.
MARKET SUMMARY Provided By: Adam Blocki, CFA, CFP® - Senior Portfolio Manager The S&P 500 maintained a steady upwards trajectory for the month of July. While the index has not quite returned to its pre-pandemic highs, it closed the month within 115 points...
MARKET SUMMARY Provided By: Adam Blocki, CFA, CFP® - Senior Portfolio Manager Stock indexes spent the first half of the month continuing to climb before retracting slightly in the second half. On June 8th, the S&P 500 hit its post-pandemic high of 3,232,...
MARKET SUMMARY Provided By: Adam Blocki, CFA, CFP® - Senior Portfolio Manager The S&P 500 traded within a relatively narrow range for most of May before breaking out above 3,000 in the last few days of the month. Asset prices continued to rise across the...