When it comes to wealth management, your client's money can do two things: It can earn interest or buy stuff. The problem is that many clients have "lazy money" just sitting around waiting to be spent. Money gets "lazy" when it is not being used to do one of the two things it can do with respect to wealth management.

Let’s say you have brochures, flyers, letterhead and business cards for your business. You’re very proud that you created these pieces…but you have a problem. They don’t look as professional as they should and you can’t quite figure out why.

A career as an independent financial professional is rewarding beyond comprehension in many ways. Effecting lives of the clients you touch in a positive way is spirit-raising. There’s nothing like standing by your clients’ side as they identify their challenges, acknowledge them, take ownership, and make a decision to take action with you as their guide. 

Financial advisors often make simple mistakes that they can correct to improve their businesses. These mistakes reduce their potential and can cause business to slow, or even worse, start to decline. Here are the top six mistakes you should avoid making in your financial services business.

Humans need a tribe. We are social animals, and most of us need to feel a part of something larger than us to feel OK. We need to know someone has our back. In return we’ll have theirs. As a unit we’ll be secure and succeed. We’ll overcome challenges and achieve great things. 

What is the one big risk that Certificates of Deposit (CDs), fixed annuities, and fixed indexed annuities share? Interest-rate risk. For example, you could miss out on higher interest credited to your savings if current rates increase during the penalty period of the fixed interest-bearing vehicle of your choice.

For many years the approach to conveying a specific or broad topic was done by what is called a concept presentation. This approach gave the presenter the ability to discuss or highlight a specific product feature or planning technique without going into specific details. Now clients are looking for detailed information on their own before visiting with a financial advisor.

Financial professionals should be using technology to help their clients faster and with more precision. Financial advisors and agents need these software programs to manage relationships, nurture prospects, and create financial plans. The following tools can improve your interactions with clients along with the effectiveness of your business. 

What separates the most successful financial advisors from average advisors?  It’s pretty simple really. Here are the five traits of the most successful financial advisors...

We have all experienced that momentary panic when we can’t find our glasses, our keys, or our cellphones. It’s usually when we’re in a hurry, like when someone is honking in the driveway, or you are running late for an appointment. When the pressure’s on in some way, your heart rate increases, your cortisol and adrenaline surge, your palms get sweaty and you feel, just for a second, like you might explode.