What does your website say about you?

While I think most of us will agree that you will not sign up any new clients based solely on your website, this marketing tool is becoming increasingly important as generations become more and more tech savvy.  Almost everyone knows how to do a google search.  If you’re a NAPFA or FPA member, you will more than likely receive traffic that way. 

When someone comes to your website, what is their first impression?  Do they have a reason to dig deeper into your website?  Does your website articulate who you work best with?  Remember, in all likelihood, no matter where you live or what google search term is used, there are going to be hundreds if not thousands of websites returned.  Have you constructed your website so yours is one of the first listed?

I would suggest that with 2009 quickly approaching, now is a good time to review your website.  Ask yourself the questions above and see how you come out.  Google Analytics is also a great tool for assessing how well your website does in a search (http://www.google.com/analytics). 

Also, remember with websites, less is more.  Less words, more concise information.  All you’re trying to accomplish here is getting someone to pick up the phone and call you.  You’re not trying to get them to sign on the dotted line or have all their financial problems or questions answered in one stop. 

Take some time to review your website.  Even small changes (such as better “searchability”) can make a big difference.

Call me if you’d like to discuss any ideas.  Thanks!

Remember to take care of yourself during this time…

These are stressful times for financial advisors…you don’t need anyone to tell you that.  As I talk to my clients during these times, I hear the stress and concern in their voices.  Because you care so deeply about your clients, you are feeling not just your own pain but their pain as well.  That’s a lot to put on your shoulders.

Now is a good time to exercise regularly, get lots of sleep and if needed, call your health care professional to talk about any physical or mental problems you are having.  In all likelihood, they are stress related and he/she can give you something to get you over this hurdle.  After all, you owe it to your clients to maintain a positive outlook and to make good decisions.  This kind of stress can “freeze” us up quickly and is not a good state of mind to make good decisions.

Don’t be afraid to ask for help if you need it.  It’s the same advice you’d give your clients so take it from yourself.  Stay in tune with your physical and mental well-being especially during these times.  You owe it to your clients.

Take care and hang in there…as my mom likes to say, “this too shall pass”.

“They like me, they really like me’ but do I like them?

As we approach the end of the year and you and your staff are doing strategic planning for 2009, don’t forget to examine your client base closely.

I would suggest you sit down with your client base in front of you, grouped by families with the amount of fees they have paid you in the last 12 months and their current AUM (if applicable).  Ask yourself these questions:

1.  Do they really value my services?  Do they take my advice or do they want to argue everything?

2.  Are they fee sensitive?

3.  Do they treat my staff with respect?

4.  Are they nice folks?

5.  Would I want to duplicate them?

Rate them as an A, B or C (or A, AA & AAA if you’d prefer).  A clients are clients you would replicate in a minute.  They get it, they take your advice, they get you documents quickly, they’re invested in the process, they are not fee sensitive and they are genuinely nice people.  B clients may not meet your minimum but they are good savers, they have a plan, they take your advice and they’re nice folks. You may not want to duplicate them today but you will someday. C clients, well, no explanation necessary here.  They argue everything, they gripe about fees, they never send documents (or they have to be hounded), they’re rude or just generally unenthusiastic about life.

Use the A group to focus your marketing efforts for 2009.  Keep the B’s happy but with a little less personal attention perhaps (for instance, with your A clients you want to set up the appt. with their CPA and go with them.  With the B’s, you want to remind them to do this but let the responsibility rest with them).  The C’s, well you know where I’m going with this. 

For every new A client, sever your relationship with an equivalent amount of AUM or revenue from your C clients.  Do this until you have the client base you want.

You will be happy you did.  There are few things about your business that go more directly to your quality of life.

Call me if I can help.