Your Financial Advisor Marketing Plan Pinnacle

Your success as a financial advisor is largely dependent on the creation and execution of your Financial Advisor Marketing Plan. If you haven’t taken the time to create or update your financial advisor marketing plan, now is a great time. In addition to creating your financial advisor marketing plan, also identify some personal objectives. One of my personal objectives with my kids is rock climbing most Sunday afternoons. Interestingly, the art of arriving at the pinnacle of the rock climbing wall is very similar to creating and implementing an amazing financial advisory practice. These steps will provide some insight to help you get started with your financial advisor marketing plan so you can create the practice you desire.

1. Set Your Goal
The first step to achieving success with your financial advisory marketing plan or any other small business plan is to set your goal. Top financial advisors know exactly where they are going as well as which affluent client niche they are targeting. Average or low producing financial advisors often have no goal and instead are working with anyone.

From the time my son, Nicholas, first saw the rock walls at our club his goal was to climb them. So on his fifth birthday, when he was finally old enough, we spent the day rock climbing. It is awesome to see how deeply committed he is to achieving his goal. Today, almost four years later he is one of the best climbers at our club and a great example of what can happen when you are clear on your goal: to become a top financial advisor or anything else your heart desires!

2. Mastering the Skills
Some of the important skills you need to develop to ensure success in your advisor practice are the technical, marketing, administrative, and selling skills (to mention a few) required to serve your affluent niche market. Too often, financial advisors jump in without understanding or developing the skills they need to succeed. One woman who didn’t take time to master the technical skills of rock climbing free fell 30 feet. While she lived, it was not an experience most would want to repeat. We become great at our chosen endeavor when we commit to mastering the required skills.

3. The Power of Mentors
One of the main reasons that top producing advisors excel at their careers is the same reason Nicholas excels at rock climbing: they tap into the power of mentors.

It has been reported that Michael Jordan had up to five coaches when he was at the height of his career. Celine Dion, Tiger Woods and many other top producers have coaches who help them to perfect their talents and reach their pinnacle. While average producers see mentoring and coaching as an expense, top advisors and producers view it as an investment and prerequisite to continued success.

4. Challenge
The degree of difficulty scale for rock climbing ranges from 5.0 to 5.15, with 5.0 being the easiest and 5.15 the most difficult. The most difficult wall at our club is 5.11, which Nicholas has scaled numerous times. Granted it is an in-door wall but regardless of whether you are climbing inside or outside, climbing upside down is a challenge. In fact, my opinion is (after climbing a few times) that growing a successful advisor firm serving affluent clients pales in comparison to the rock climbing challenge!

When we continue to challenge ourselves, our financial advisory business and life can’t help but improve. Nicholas continues to master his techniques and skills because he enjoys the challenge and doesn’t let setbacks detour him from his goal. Top advisors focus on their goal and develop a financial advisor marketing plan that allows them to achieve it. Because he is only eight and not tall enough to always reach the next rock wall, he has developed enough upper body strength that he can put his finger in one of the holes and pull his body up to the next rock. What strengths do you need to develop to get to the next level?

5. Persistence
Top advisors are persistent and focus on what they can control which is a prerequisite to get to any pinnacle. When Nicholas fails at an attempt to climb a wall or gets dropped, instead of complaining, he gets up and persists, focusing on the factors he can control just like top financial advisors.

6. Focus
Just as following one course until success applies to rock climbing, it applies equally to your financial advisor marketing plan. Most financial advisors spend too much time on busy low value work that is a waste of their time and could be hired-out at a fraction of their hourly value.

To achieve success in your financial advisor marketing plan, choose two or three marketing strategies that resonate with your personality and then create a laser focus in completing them.

7. Fun
It can be easy to forget one of the most important lesson which is to have fun on the journey. Don’t make the mistake of getting caught up on how quickly you achieve your goal of becoming a top financial advisor!

The next step is to rank your level of mastery for each of these strategies. Then take the time to create and implement your Financial Advisor Marketing Plan so 2011 can be your best year yet!