tag:blogger.com,1999:blog-6278053805638461303Tue, 16 Sep 2008 20:42:27 +0000Greg Powell's Wealth Management Solutions for financial advisers and financial institutions.http://www.fismart.com/solutions/blog.htmlnoreply@blogger.com (Greg Powell)Blogger14125tag:blogger.com,1999:blog-6278053805638461303.post-306471122445337990Tue, 16 Sep 2008 18:47:00 +00002008-09-16T15:42:28.001-05:00Financial Industry NewsFinancial Advisor SolutionsWhat happens to the financial advisors and clients of Lehman Brothers and Merrill Lynch? We have said for some time that the financial service industry has a broken business model. We have also stated that financial advisors and their clients are at the mercy of management, especially if those advisors don't run their employee practice like they are a business owner. If your firm went under, http://www.fismart.com/solutions/2008/09/lehman-brothers-bank-of-america-merrill.htmlnoreply@blogger.com (Greg Powell)tag:blogger.com,1999:blog-6278053805638461303.post-7990988382229953764Fri, 12 Sep 2008 13:36:00 +00002008-09-12T08:39:07.261-05:00Financial Advisor SolutionsThe financial advisor should provide a thorough financial plan and not some short version that is a marketing substitute the advisor or his/her firm calls a plan. Today's client should have the financial plan back to them in no later than two weeks if the advisor is organized. Keep in mind, that any advisor is welcome to figure out the steps needed to make financial planning a profitable revenue http://www.fismart.com/solutions/2008/09/time-is-money-less-time-equals-more.htmlnoreply@blogger.com (Greg Powell)tag:blogger.com,1999:blog-6278053805638461303.post-3516441187750221370Thu, 11 Sep 2008 21:06:00 +00002008-09-11T16:35:19.116-05:00Financial Advisor SolutionsOrganization and execution are key in any financial and wealth management practice. So often, financial advisors do not run their practice in a systemized method. After all, you are a business model. However, all too often, a business is run reactive, instead of proactive. By placing step by step systems and processes in place as reminders for you in terms of execution of the financial planning http://www.fismart.com/solutions/2008/09/wealth-management-systems-and-processes.htmlnoreply@blogger.com (Greg Powell)tag:blogger.com,1999:blog-6278053805638461303.post-7340175533822436547Thu, 04 Sep 2008 19:39:00 +00002008-09-05T12:54:53.488-05:00Financial Advisor SolutionsIn response to Doug's comment below: We have all probably taken many personality which have proven to be worthless? Our Communication Assessment is a powerful new way to look at yourself, your team and your clients. It's more than just the type of personality you are. It's about how you communicate that personality to get results. This instrument is a tool that defines the way you communicate http://www.fismart.com/solutions/2008/09/how-to-work-smarter-not-harder.htmlnoreply@blogger.com (Greg Powell)tag:blogger.com,1999:blog-6278053805638461303.post-6757980703594833888Wed, 03 Sep 2008 21:06:00 +00002008-09-04T11:00:11.311-05:00Financial Advisor Solutions(Read previous post first) So often, advisors pair up with other financial advisors to start a team. While this is an excellent wealth management solution most of these advisors continue with the habits they established in their early years... that is, doing all the work themselves. After all, those habits brought them this far, right? To go to the next level advisors have to understand they http://www.fismart.com/solutions/2008/09/forming-team-of-strength-part-2.htmlnoreply@blogger.com (Greg Powell)tag:blogger.com,1999:blog-6278053805638461303.post-1443777159360761479Wed, 03 Sep 2008 20:41:00 +00002008-09-03T16:13:49.122-05:00Financial Advisor SolutionsIt is great to see a dysfunctional team come to our offices after having gone through our Communication Assessments. Countless times, we have shown how a team can be reorganized based on the strengths of team members instead of job descriptions. With the title "financial advisor," so many of these individuals are required to do it all even if they are on a team. Yes, when you first start in http://www.fismart.com/solutions/2008/09/adult-day-care-or-team-of-strength.htmlnoreply@blogger.com (Greg Powell)tag:blogger.com,1999:blog-6278053805638461303.post-3921983041740091761Tue, 02 Sep 2008 19:54:00 +00002008-09-02T15:08:09.349-05:00Financial Advisor SolutionsOur thoughts, prayers, and hearts reach out to the people of Louisiana as the power of Hurricane Gustav reminds us how precious life is and how quickly our lives can change. Hurricane Gustav forces us to press some important questions to our financial planning and wealth management practice. As a financial advisor, how have you prepared your clients for emergency evacuation? How organized are http://www.fismart.com/solutions/2008/09/hurricane-gustav-questions-to-ask.htmlnoreply@blogger.com (Greg Powell)tag:blogger.com,1999:blog-6278053805638461303.post-8572693580497659750Fri, 29 Aug 2008 19:53:00 +00002008-09-02T15:10:34.038-05:00Wealth Management TrendsFinancial Advisor SolutionsHow long has this discussion been going on? It is essential that an advisor understand that they need to make this change and it doesn't have to be a huge jump to do it. In order to have a sound future as a financial planning and wealth management practice that will also survive the ups and downs of the financial markets, converting to a fee-based only practice is essential. Keep the emails and http://www.fismart.com/solutions/2008/09/converting-to-fee-based.htmlnoreply@blogger.com (Greg Powell)tag:blogger.com,1999:blog-6278053805638461303.post-4395954884873549042Thu, 28 Aug 2008 14:21:00 +00002008-08-28T13:03:24.528-05:00Wealth Management TrendsFinancial Advisor SolutionsOkay, I have heard you loud and clear, especially the wirehouse advisors. As more and more discussion occurs in the financial news about which banks and investment firms are going to keep their doors open, your phone calls and emails have voiced that advisors want to know how to go independent or take charge of their practice if they remain in the wirehouse environment. I have no problem http://www.fismart.com/solutions/2008/08/feeling-heat.htmlnoreply@blogger.com (Greg Powell)tag:blogger.com,1999:blog-6278053805638461303.post-1413816648078853919Wed, 06 Aug 2008 18:47:00 +00002008-09-02T15:23:02.990-05:00Wealth Management TrendsFinancial Advisor SolutionsHere is another example of why we believe at fiSMART that the financial industry is going through a complete overhaul because the business model is broken. Recently, a financial advisor contacted me to discuss his situation. He had left the wirehouse firm to go independent. He moved his entire team with him. Needless to say, the wirehouse filed a motion and lawsuit when he left. I do not know allhttp://www.fismart.com/solutions/2008/08/financial-industry-business-model-is.htmlnoreply@blogger.com (Greg Powell)tag:blogger.com,1999:blog-6278053805638461303.post-7318545220705358758Thu, 01 May 2008 20:24:00 +00002008-08-28T11:27:45.200-05:00Financial Industry NewsWealth Management TrendsFinancial Advisor SolutionsIt is always amazing to me how many different answers I receive from my progressive wealth management solutions conference attendees when I ask the question, “Can you tell me when the client experience begins at your firm?” Now picture me asking that question at a fiSMART conference with a room full of financial advisers from the same firm. The answers range from; “when the client walks into my http://www.fismart.com/solutions/2008/08/consistent-client-experience-brings.htmlnoreply@blogger.com (Greg Powell)tag:blogger.com,1999:blog-6278053805638461303.post-304726783004660234Tue, 29 Apr 2008 20:48:00 +00002008-08-28T11:29:31.442-05:00Wealth Management TrendsFinancial Advisor SolutionsAt fiSMART, three years ago, we predicted that the financial service industry would go through a transformation similar to the telecommunications industry. After all AT&T is not the same AT&T you knew fifteen years ago. In essence, just because you are a large financial planning and wealth management company with a brand name does not guarantee your business model will survive. Throughout http://www.fismart.com/solutions/2008/04/financial-advisors-can-change-when.htmlnoreply@blogger.com (Greg Powell)tag:blogger.com,1999:blog-6278053805638461303.post-7359736584544123375Mon, 17 Sep 2007 21:13:00 +00002008-08-27T16:15:50.066-05:00Financial Industry NewsWealth Management TrendsFinancial Advisor SolutionsCHANGE… the financial wealth management industry is going through a metamorphosis that requires full attention. Miss a beat, remain unaware of the current trends, hold on too tightly to old paradigms and your practice will suffer! Technology advancements and the demands of the most complex and challenged customers in financial history require new wealth management systems, processes and insightshttp://www.fismart.com/solutions/2007/09/progressive-wealth-management-tips.htmlnoreply@blogger.com (Greg Powell)tag:blogger.com,1999:blog-6278053805638461303.post-2652651286500146015Mon, 17 Sep 2007 21:11:00 +00002008-08-27T16:12:40.403-05:00Wealth Management TrendsFinancial Advisor SolutionsIf you thought your wealth management training was over, you may have missed what you need the most. Why? Because the industry has changed, dramatically! And those that are not seeing great success are either stuck or don’t have the wealth management concepts and solutions to meet client demands today. In Greg Powell’s program you will discover what one of the industry’s most respected and most http://www.fismart.com/solutions/2007/09/fee-only-financial-advisors.htmlnoreply@blogger.com (Greg Powell)