Results-Driven Solutions

Breakthrough results are rarely, if ever, achieved without the presence of breakthrough thinking. One of the keys to our success over the years has been our ability to free ourselves from the "conventional wisdom" that pervades every industry. Listed below is a sampling of some of the UN-conventional wisdom that has enabled us to help thousands of investment professionals build and manage better businesses and teams:

• Most training programs are ineffective because they fail to address the root cause(s) of why certain things are or are not happening in your business. If you treat the symptoms, the pain will come back every time. To confirm this, all you have to do is look over at the vertical "binder cemetery" that is standing in your office.
• If you move a dysfunctional family into the best house in the best neighborhood, you will still have a dysfunctional family. The same holds true for advisor teams. If you form a team around one or more dysfunctional businesses, you will usually end up with a business that is even more dysfunctional than the sum of its parts.
• The main reason so many advisors have a tough time making the transition to high value business models (such as investment consulting or wealth management) is that they are trying to build these highly complex businesses (i.e., advice-driven, relationship intense) within organizations were designed (decades ago) to support relatively simple businesses (i.e., product-driven, transaction intense). This, in our opinion, is the "mother" of all root causes.
• As the complexity of your business increases, the number of clients you can effectively manage decreases more rapidly than you think. A stockbroker can effectively manage hundreds of customers. A true wealth manager can only manage 50 - 75 clients effectively. Failure to reduce the number of clients you work with (as the complexity of your business increases) inevitably leads to a serious disease called, business obesity (aka, The Sumo Advisor).
• When it comes to breaking through a production plateau, less really is more. Your business is like your body. The more out of shape it gets the more it slows down on you. It also becomes more susceptible to a host of chronic ailments. Business obesity (the disease described above) can literally stop your business in its tracks.
• Advisors, by their very nature, are fiercely competitive and independent. They are attracted to the investment business because it allows them to control their own destiny and, in some ways, the destiny of others (their clients). In other words, the very traits that make them successful often make it difficult for advisors to form long-lasting partnerships which, by their very nature, are highly dependent on mutual respect and collaborative decision-making.
• With few exceptions, 1 + 1 will only equal 3 when you combine complimentary behavior styles and compatible workplace motivators. If you get this wrong, you are likely to end up with negative synergy, which is when 1 + 1 = 1.5. If you have ever formed a partnership, you can probably relate to this.
• The biggest barrier standing between you and whatever you want to achieve in your business (or your life) is probably YOU. It is sad but true and it happens to the best of us. In fact, this unfortunate phenomenon is even more pronounced among high achievers. Why? They have a tendency to over-commit. To make matters worse, they usually underestimate how long it takes to get things done. If you find yourself (or are accused of) waiting until the last minute, running a little late, canceling meetings and/or asking for extensions, you are probably a high achiever. The bad news is you are also keeping your business and your team from achieving its full potential.
• Contrary to what your favorite sales manager may have told you, asking for them is NOT the key to getting more referrals from your clients. In most cases, clients will only send you referrals if you exceed their expectations. The best way to get more and better referrals is to turn your best clients into advocates. BUT, before you can expect a client to become a stronger advocate for you, you first have to become a stronger advocate for them. It all boils down to the law of the harvest.