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May 22, 2012 Strategies for building resiliency to stress: Part 2—10 ways to build resiliency
Danya Harder — Assistant Vice President and Consultant Wells Fargo Employee Assistance Consulting Listen Now Download
Effective August 1, 2011, Wayne Badorf became head of Intermediary Sales at Wells Fargo Funds Distributor, LLC.
Effective March 1, 2012, Dean Junkans was named chief investment officer of Wells Fargo Advisors and Wells Fargo Private Bank.
Strategies for building resiliency to stress: Part 2—10 ways to build resiliency - Everyone has the capacity to build resiliency to stress. Here to share 10 ways to help make that happen in this second part of a two-part series is Danya Harder, assistant vice president and consultant with Wells Fargo Employee Assistance Consulting.
Business succession planning: Part 1 - Eventually, like your clients, you might want to retire. What happens to your book of business? Of course, you hope to get the best enterprise value for the practice you've built over the years. But second, and maybe most important, is finding an advisor—with similar values as you, who will care for your clients as much as you have—to succeed you. Wayne Badorf, CFP, CFA, addresses this in the first of a two-part series on business succession planning. Wayne is national sales manager with Wells Fargo Funds Distributor, LLC.
Business succession planning: Part 2 - If you joined us for part 1 of this interview with Wayne Badorf, CFP, CFS, you learned of two reasons why taking a multigenerational approach is beneficial to your practice. One, partnering with advisors to build a team that spans the generations and shares your same values ensures your clients continuity in the service they've come to expect. And two, having a team with breadth of generational perspectives in your practice helps you capture new opportunities you might have otherwise missed. In this program, Wayne explains that it's more than just about ensuring your clients continuity and longevity of your practice; it's really about extending the trust you've earned over the years between those who will succeed you and your clients for generations to come. Wayne Badorf is national sales manager with Wells Fargo Funds Distributor, LLC.
A brief lesson in debt crises - If fears of debt crises, here or around the world, have kept your clients out of the markets, perhaps a brief lesson on what makes a debt crisis would help. Dr. Brian Jacobsen, CFA, CFP, and chief portfolio strategist with Wells Fargo Funds Management, LLC, joins us to provide historical context and to explain the investment risks and opportunities.
Asset allocation in a crisis - Your clients are focused on their portfolios now more than ever. But they're hearing, "asset allocation is dead" and "modern portfolio theory is dead." That just leaves them fearing the worst. Is asset allocation dead, or is it just media hype? What you take away today will help ease your clients' fears and further position you as their financial expert. Here to help is Dr. Brian Jacobsen, CFA, CFP, chief portfolio strategist with Wells Fargo Funds Management, LLC.
Busting the fixed-income bubble myth - Headlines proclaim a bubble in the fixed-income markets, but today's guest disagrees and supports his argument against it by way of the very definition of an economic bubble. Joining us is Jim Kochan, chief fixed-income strategist with Wells Fargo Funds Management, LLC. Jim coauthored the white paper, "Fixed-income securities have had an extraordinary run, but don't call it a bubble."
Five crucial conversations to have with clients in 2012 - There are five crucial conversations you are likely to have with your clients this year based on their concerns about the markets and the economy. Here to help you prepare answers to your clients' questions is Dr. Brian Jacobsen, CFA, CFP. Brian is chief portfolio strategist at Wells Fargo Funds Management, LLC.
Helping clients understand headlines - Your clients are constantly bombarded with economic news. This presents you with an opportunity to act as a filter for your clients to help them differentiate between what is important and what is "noise." Today's guest discusses three economic topics that are sure to be top of mind in 2011 and offers tips to keep your clients informed. Joining us is Dr. Brian Jacobsen, CFA, CFP, and chief portfolio strategist with Wells Fargo Funds Management, LLC.
Helping clients understand headlines - In recent years, the absolute return strategy has become one of the fastest-growing fund products in the world for its nontraditional approach to seeking positive returns regardless of market direction. This may leave investors wondering, "Does this investment approach meet my goals, and what differentiates one portfolio manager from the next?" Here with some answers is Christian Chan, CFA, head of investments for Wells Fargo Funds Management, LLC.
Let history take the mystery out of investing - Do you feel as if you've said all you can say to your clients about the economy? Are you looking for another conversation starter? Today's guest often refers to history for help, and it could be the key to getting clients back into your office. Here with his ideas is Matt Lobas, senior vice president and national sales manager with Wells Fargo Funds Distributor, LLC.
The anatomy of investing—choosing your doctor - Investors choose advisors in much the same way they choose their doctors. Knowing what they look for will help improve your chances of getting hired. Here to explain is Dean Junkans, CFA, author of the book The Anatomy of Investing. He's also chief investment officer with Wells Fargo Wealth Management.
The anatomy of investing—how to keep your clients' portfolio healthy - Your clients rely on you for understanding everything from how markets work to what they can expect from their investments. Wouldn't an easy-to-understand teaching tool be nice? Fortunately, Dean Junkans, CFA, wrote The Anatomy of Investing. He's also chief investment officer at Wells Fargo Wealth Management.
The anatomy of investing—the brain - Right- and left-brain thinkers approach investing differently. But tailoring a well-designed investment plan for your clients may require a combination of both sides of the brain. Here to explain is Dean Junkans, CFA, author of the book The Anatomy of Investing. He's also chief investment officer at Wells Fargo Wealth Management.
The anatomy of investing—the eyes and ears - Your clients rely on you for both understanding and helping them to meet their financial goals. If you can get your clients to focus on the right concepts and can be their trusted source for financial information, your job will be easier, and your clients will have a better experience as a result. Today's guest wrote the book The Anatomy of Investing to assist you in helping your clients focus on what's important and to gain a better understanding of investing. Joining us is author Dean Junkans, CFA. Dean is also chief investment officer at Wells Fargo Wealth Management. When Dean joined us previously, we discussed his book and talked about the brain and its connection to investing. Today, Dean recaps his book and talks about the eyes and ears.
Don't become a victim of your day - Do you know what repeatable, successful acts of top producers are? They do. And that's why they're on top. How they plan will help keep you from becoming a victim of your day. Here to explain is Steve Harvill. Steve is the founder and president of Creative Ventures. If you've ever attended one of Steve's workshops, you left filled with new ideas to manage and grow your business.
Four tips to add more time to your day- Time is a precious commodity that often slips away as you\'re pulled this direction and that. Those lost minutes may add up to lost profits, missed opportunities, and worse, time away from your clients. Our guest today offers four tips to help take back time. Joining us is Wayne Badorf, CFP, senior vice president and national sales manager with Wells Fargo Funds Distributor, LLC.
Growth strategies for your practice - Positioning your practice, differentiating your practice, and contact strategy are three fundamentals that are essential to the growth of your practice. A focus on all three fundamentals at once is what separates the best advisors from everyone else. They are also the basis for what today's guest calls "the seven disciplines of growth"—a topic he presents at conferences and is currently writing a book about. Joining us is Dr. Rick Jensen, founder of the Performance Center at PGA National and nationally recognized performance consultant and sports psychologist. Rick applies the principles of his work with the world's best athletes to help develop the best professionals in the world of business.
How to eliminate micromanagement - Micromanagement has a huge, negative impact on the success of your practice. Eliminate it, and you'll free up time to focus on sales and service. In fact, eliminating micromanagement is a repeatable, successful act of top producers. Here to explain is Steve Harvill. Steve is the founder and president of Creative Ventures. If you've ever attended one of Steve's workshops, you left entertained, and filled with new ideas to creatively manage and grow your business.
How to make a good decision the right decision - Proper planning begins with good decision-making, but how can you be sure your decision is the right choice? Top producers employ four techniques. Here to explain is Steve Harvill, founder and president of Creative Ventures. If you've ever attended one of Steve's workshops, you left filled with new ideas to creatively manage and grow your business.
How to turn your solo firm into a thriving practice - If you're a solo practitioner, you may find yourself struggling between managing your business versus growing your business. What are some best practices for solo practitioners that can help their businesses become more successful? Here to explain and provide more insight into solo firms is Wayne Badorf, CFP, senior vice president and national sales manager with Wells Fargo Funds Distributor, LLC.
Keeping it simple: Part 1 - Simplifying creates value, adds impact, is the basis for strategic thinking, drives change, and focuses your activity to help you drive your business forward. In the first of a two-part series, Steve Harvill, founder and president of Creative Ventures, discusses common obstacles and how to start simplifying today. If you've ever attended one of Steve's workshops, you should have left entertained and filled with new ideas to creatively manage and grow your business.
Keeping it simple: Part 2 - Simplifying helps you identify ways to move your business forward. In the second of a two-part series, Steve Harvill, founder and president of Creative Ventures, provides three simple tips to get started immediately. If you've ever attended one of Steve's workshops, you should have left entertained and filled with new ideas to creatively manage and grow your business.
New tech tools to enhance your practice - Information technology (IT) is a sector that often leads the markets. In business, we rely on it for almost everything we do. In the future, IT will forge new frontiers and will change how we do business. So, advisors should spend time now rethinking IT in terms of the investment potential for their clients as well as how it might help improve their practices and the way they serve their clients. Here to explain is Michael Thomas, senior investment analyst for the domestic equity group at Wells Fargo Funds Management, LLC. Michael co-authored the white paper, Rethinking technology stocks: Opportunities in today's IT sector.
Play like a champion - You have to play like a champion if you want to invest like a pro, especially during markets like these. But how? Joining us today is Dr. Rick Jensen. He's founder of the Performance Center at PGA National and is a nationally recognized performance consultant and sport psychologist. Dr. Jensen is known for teaching the Essentials of Champions. He's worked with leading financial institutions, applying the principles of his work with the world's best athletes to the best professionals in the world of business.
Positioning your practice for growth - Advisors have seen their books diminish over the past few years by as much as 20% to 40%. The focus, now more than ever, is to bring in new assets but if you're going to position your practice for growth, your target audience matters. Here to explain is Dr. Rick Jensen, founder of the Performance Center at PGA National and a nationally recognized sport psychologist and performance consultant. He has applied the principles of his Essentials of Champions program to the financial services industry and has coached some of the most successful advisors in the country as they've developed proven systems for growing their practices.
Strategies for building resiliency to stress: Part 1—identifying stress - Stress you face in your life and in your business almost certainly negatively affects your practice. Stress that your clients face about the markets may affect their views of investing. In this first part of a two-part series, Danya Harder, assistant vice president and consultant with Wells Fargo Employee Assistance Consulting, helps us identify and document what is stressing us out and our reaction to it. It's the first step to building resiliency to stress.
Attracting and maintaining a client for life - Your clients' financial lives change over time, which means opportunities may present themselves where they never existed before. A client in your book who hasn't made a purchase from you recently might in the future—if you've done what you can to ensure you have attracted and maintained a client for life. Here to explain and to provide three ideas to help do that is Alan Hadfield. Alan is a Regional Director for Wells Fargo Funds Distributor, LLC.
Help business owners build a winning team to sell their practice - By partnering with a lawyer and a tax advisor, you can help your small-business owner client assemble a formidable team to sell that client's practice. Here to explain is Kevin J. Mulvaney, professor at Babson College in Wellesley, Massachusetts. Kevin teaches two merger/acquisition courses and consults with and advises business owners facing important strategic challenges and M&A decisions.
How to help women take control of their finances - Women have become one of the most well-educated, successful, and financially secure demographics. The percentage of wealth this group controls provides advisors with a huge opportunity to help women investors become more involved with their finances. Ashley D. Anderson, Regional Director with Wells Fargo Funds Distributor, LLC, discusses how you can help women harness their current and future earnings to provide the dream they have for themselves and their families.
Improve how you communicate with your female clients - The percentage of female clients who are likely to leave their advisors after a life-changing event, like the loss of a husband due to death or divorce, is staggering—more than 70%. That presents an opportunity for advisors who are better prepared to listen and talk to their female clients. Here to help is Ashley Anderson, Regional Director with Wells Fargo Funds Distributor, LLC.
Partnering with your client's CPA is good business - Your client's CPA is a big center of influence. What they're telling your clients carries a lot of weight, so partnering with your client's CPA is good business. And it's a relationship the client rewards. Here to explain is Bill Wertz. Bill is a senior tax partner with Baker Tilly. In addition to serving as regional director of tax services, Bill works with high-net-worth clients to help them minimize their tax liabilities.
Power ranking to find your ideal client - If knowing who your best clients are is the art of what you do, understanding why they are is the science. But, according to consulting firm Cerulli Associates, only a small percentage of advisors puts a formal segmentation strategy into place. Today's guest discusses a simple process that you can implement now to help uncover hidden opportunities within your existing client base. He calls it "Power Ranking to Find Your Ideal Client." Here to explain is Matt Lobas, senior vice president and national sales manager with Wells Fargo Funds Distributor, LLC. Matt authored the white paper, "Maximize hidden client opportunities in your practice."
Replicate your top clients with a proactive marketing plan - As a financial advisor, you know that you should be more active in your marketing efforts, but how do you move from having a reactive model to a proactive model? Better yet, how can you develop a systematized plan to replicate your top 50 households? Here to share his knowledge is Andy Wiginton, CIMA, CMFC, and Regional Director with Wells Fargo Funds Distributor, LLC.
Retirement planning for boomer women - Retirement planning is important for everyone—but it's especially important for boomer women. The issues faced by this market segment are compounded by a number of factors, resulting in a challenging post-retirement picture for millions of women who have worked their entire lives to build a nest egg. Cara Peck, executive vice president and head of Retail Intermediary Sales for Wells Fargo's Asset Management Group, talks about this unique opportunity and how you can help this market niche plan for their retirement now.
Small-business owners offer big opportunity - There's a big opportunity for advisors who pursue small-business owners of mid-market companies. But first you have to position yourself as a key player, with value to add, on a business owner's team. Here to explain is Kevin J. Mulvaney, professor at Babson College in Wellesley, Massachusetts. Kevin teaches two merger/acquisition courses wtih and consults and advises business owners facing important strategic challenges and M&A decisions.
Volatile markets create referral opportunities - When markets are volatile, clients are on the move. That's an opportunity for you, if you know how to ask for, and get, the high-net-worth clients who are out there. Here with ideas, is Matt Lobas, senior vice president and national sales manager for Wells Fargo Funds Distributor, LLC.<
A client service model, in times like these - A client service model in today's environment, with so much information and media noise affecting investors, needs to be dynamic and flexible to allow investors to stay committed to their financial goals. Does your client service model weather stormy markets? In times like these, a client service model should hardly be routine, according to Wayne Badorf, CFP, CFS, and national sales manager with Wells Fargo Funds Distributor, LLC.
Client advisory boards help deepen client relationships - Clients are experts on what they want. One way to improve your practice is to ask them what they think. But who you ask, what you ask, and how you ask it matters. Philip Hux, Regional Director at Wells Fargo Funds Distributor, LLC, joins us to explain how a client advisory board can help accomplish all that and deepen relationships in the process.
Conducting effective seminars: Part one - Conducting effective seminars takes strategy. In the first of a two-part series, David B. Grindle, Regional Director for Wells Fargo Funds Distributor, LLC, offers simple tips to help you improve your next client event. Today David discuses aspects of pre-work and the event.
In the second part of our two-part series, David B. Grindle, Regional Director for Wells Fargo Funds Distributor, LLC, offers simple tips to help you improve your next client event. Today David discusses aspects of post-work and a unique follow-up technique.
How a clients-needs model helps you exceed client expectations - Most successful advisors don't carry their clients-needs model in their heads. They have it as a clearly articulated part of their sales process. In fact, it's a repeatable, successful act of top producers. What is a client-needs model anyway? Here to explain is Steve Harvill, the founder and president of Creative Ventures. If you\'ve ever attended one of Steve\'s workshops, you left filled with new ideas to creatively manage and grow your business.
How client advisory boards help your business succeed - Next to you (the advisor), the people who are likely the most invested in your practice are your clients. They'll go to great lengths to help you succeed. That's the value of a client advisory board, and it's a great way to help take your practice to the next level. Here to explain is Kristina Page, CFS. Kristina is a regional director at Wells Fargo Funds Distributor and the moderator of a client advisory board for an advisor in the territory she serves.
How client interest surveys create engagement - A client interest survey helps ensure you're making the most thoughtful use of time and resources when planning events for your clients and they can also help define the type of services you provide. How do these surveys create engagement? What other practical applications do they have? Here to explain is Chris Pollak, CIMA. Chris is a regional director for Wells Fargo Funds Distributor, LLC.
How to be accessible to all your clients - It's been said that you can't be all things to all people, but you can be accessible. Here to explain how you can be accessible to all your clients is Wayne Badorf, CFP®. Wayne is head of Intermediary Sales and president of Wells Fargo Funds Distributor, LLC.
How to implement an ongoing segmentation model - Maximizing hidden client opportunities in your practice begins with a study of your top clients to find common characteristics, but it continues with analyzing the findings and employing a client service model that supports the new direction of your practice. Here to explain is Matt Lobas, senior vice president and national sales manager with Wells Fargo Funds Distributor, LLC. Matt authored the white paper, "Maximize hidden client opportunities in your practice."
How to make an impact at client events - Private art museum tours, box seats at the stadium, or simply an intimate dinner with you and a guest at your favorite restaurant. What's the secret to holding successful client events? Chris Pollak, CIMA, Regional Director with Wells Fargo Funds Distributor, LLC, shares best practices on how you can obtain high-quality introductions by holding effective and unique client events. In addition, hear from event planner Eileen Ho, CMP, as she offers three simple ideas that have a big impact at client events.
Jeff: An unexpected lesson in exceptional service - Today's guest shares a unique story from the road about delivering value above and beyond what is expected. And, he offers tips on how to ensure tha the memory of you won't fade after your next client meeting. Joining us is Wayne Badorf, CFP, CFS, and national sales manager with Wells Fargo Funds Distributor, LLC.
Turning clients into advocates - When somebody speaks positively about you to others, that's good. When that person is your client, and your client is speaking to someone about how you helped him or her achieve financial goals and the great relationship you have, that\'s great! How do you build a base of clients who are willing to be advocates for you? Here with ideas is Matt Lobas, senior vice president and sales manager with Wells Fargo Funds Distributor, LLC.
Your clients know what's best for you - Clients are experts on what they want. One way to improve your practice is to ask them what they think. But whom you ask, what you ask, and how you ask it matter. Philip Hux, Regional Director with Wells Fargo Funds Distributor, LLC, joins us to explain how a client advisory board can help accomplish all that and more.
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