Five Dreams to Pursue Today

by | Aug 1, 2018 | HIDDEN

We wrapped up our annual conference at the beautiful Suncadia Resort a few weeks ago. Each year, this is an exciting opportunity for our team and network of independent advisors to learn, collaborate, get better prepared for whatever lies ahead, and dream. We are still dreaming. Are you?

After all, without a dream, what is worth pursuing? If you don’t have a vision for the future, are you really doing the best for your clients and your practice? I would argue, probably not.

We are focused on helping independent advisors achieve their dreams. While the specifics of your dreams are uniquely your own, we know there are a few that most financial advisors aspire to. Here is a recap of the five dreams we focused on at our conference this year and how we are working to help our partners achieve them.

Dream #1 – “I dream of having deep, long-lasting relationships with my clients built on a solid foundation of TRUST.”

Trust can never be taken for granted. We are in the ninth year of a bull market, meaning the tide will turn eventually, and when it does you want your clients to trust your guidance. Trust is built when you are able to deliver on promises.

What can you promise? You can guarantee that someone will be there when they call, to always have their best interest at heart, and to continue to learn as much as possible so you can continue to provide sound financial guidance.

At Financial Advocates, we help you fulfill your promises. Here, you have a team of experts in compliance, portfolio management, back office administration and more at your disposal to get what you need, when you need it.

With a strong partnership, you are able to fortify your client relationships.

Dream #2 – “I dream that my practice operates at the optimum level of efficiency and my team is driven to perform at our very best every day to support our clients and each other.”

I’ve always thought of maximizing efficiency. Then a few years ago, a consultant we hired taught me that efficiency isn’t as important as I thought. EFFECTIVENESS is a better objective. If you are operating as a jack of all trades, you are not being effective.

This year we have introduced even more custom services including financial planning and marketing. They are custom because no two practices are alike, and the level of support needed varies greatly. Partnering with Financial Advocates means you can focus on your clients and let us help to fill in the gaps, so you can help pursue maximum effectiveness.

Dream #3 – “I dream I am confident in my ability to easily navigate my practice through the many unknowns that lie ahead.”

Unknowns will always lie ahead, and in this industry you expect them. But your clients still rely on you to help them decipher between the noise, fake news, and what’s real. It’s your job to leverage trusted resources then focus on your clients’ needs. Financial advisors perform this balancing act every day. At our conference, we introduced trusted resources to help our partners learn more about what may be on the horizon in the realm of politics, policy and the markets.

Through our partnership, navigating is easier whether it be with the day to day management of your practice or in the realm of branch development.  If you are looking to buy a practice, bring on a junior advisor, or partner with another leading advisor we have trusted resources to help you navigate these waters.

Our Business Development team can help you at just about any place in your practice. They will help you answer your current needs, and plan for your future.  The Business Development team can keep you ahead of where the industry is moving and to do this, they’ve got a growing toolbox of resources at their disposal.

Dream # 4 – “I dream my practice is a catalyst for change in my community and the world to help (fill in the blank) and to inspire those with excess wealth to give more.”

We are committed to giving back, and it’s really no surprise that those who chose to partner with us feel strongly about giving back too. This is why we launched our Partners in Philanthropy program last year. We want to celebrate the philanthropic work of our independent financial advisors. When we look at how all of our individual contributions combine, and how many lives we touch, it’s tremendous. Without a doubt, it’s in the tens of thousands.  If this is a dream for your practice, then our values align, and we should connect.

Dream #5 – “I dream my practice continues to thrive and grow over the next 10 – 30 years serving generations to come and leaving a lasting legacy for those I love.”

We welcomed Michael Kitces to our mainstage this year. He’s a well-known thought leader on the trends that are shaping our industry. We too are acutely aware of these trends!

We aspire to continuously expand our services, structure, and expertise to be able to effectively serve as the primary partner for independent financial advisors as they continue to navigate change along the path to increased independence.

The future lies in a fully fiduciary, advisory model. To help advisors move toward this pure RIA model, we have launched a new Virtual Broker Program. Our Virtual Broker Program is in response to advisors’ commission business being in steep decline, while their advisory practices flourish. Also, the desire for many independent financial advisors to move out from under FINRA, clearing the way for more choice, improving their practices and their clients’ experiences.

The Virtual Broker Program allows you to drop your Series 7 for greater choice and control. You can ensure your clients’ accounts receive excellent service and continue to get paid for your advice. If your brokerage business has been eclipsed by advisory, our Virtual Broker Program may be a part of the answer. We would be happy to talk to you about this solution.

If any of these dreams resonate with you, yet you aren’t quite sure how to realize them, let us help you. After all, our dreams at Financial Advocates are realized when our partners’ dreams come true. Regardless, I encourage you to keep dreaming and dream BIG!