Issue 17


Philip Palaveev describes what makes a good lead advisor, and how second generation advisors can grow into lead roles.

“Successful firms teach younger advisors how to lead as early as possible and try to advance professionals as often as possible.”


Josh Brown reminds us that because most people lack an inner strength, they will always have a need for advice regardless of their wealth.

“… working on your character is more important than hoping for tranquillity and searching for a finish line that doesn’t exist. This is why strong advisory firms focus so much of their time and energy on the behavioral aspect of investing.”


A financial planning report is almost always too long, and too boring. Here are a few suggestions on how to improve this part of the client experience.

“How many advisers excel at verbal communication, build genuine rapport and long term client relationships but are let down by their written stuff?”


The economy, and businesses, improve when productivity increases. Morgan Housel argues that most businesses are too focused on discovering new tricks to make things more efficient, and argues for rather reducing old hindrances that slow things down. What hindrances exist in your business?

“The point is that the world is full of low-hanging productivity fruit that doesn’t rely on our ability to invent new ideas.”


Clients have a tendency to get nervous when the markets are setting new highs, imagining that the next crash must be around the corner. Financial media often fan these flames. However, if history is a guide, it’s as good a time as any to commit money to the market. Do you encourage this behaviour by suggesting to clients that the market can be timed?

“It’s been almost ten years since the market topped in 2007, prior to crashing nearly 58%. If you bought the S&P 500 on the exact day that the market topped and held on for dear life, ten years later, you would have doubled your money, earning just over 7% a year.”


Julie Littlechild explains that the client experience can be improved through deepening the client engagement by actively supporting clients across the entire journey. A good start is to think through the experience from the client’s perspective, not your own.

“… while technology will play a role, there are simpler changes that you can make now that will enhance the experience and set you apart from the crowd.”


Stephanie Bogan provides a fresh perspective (and good scripts) for dealing with clients who try to negotiate on fees, as well as inappropriate referrals. She argues that it’s time to change the conversations we hold with ourselves, and the ones we have with clients.

“Your brain, specifically your limbic system, is hard-wired for survival rather than success. So when confronted with a challenging request, our brains go on the defensive and remove us from the conflict zone as quickly as possible. The problem is, we’ve limited ourselves, and our practices, in the process.”


Steve Wendel looks at how market volatility impacts investor behavior and how advisors can address financial anxiety. Carl Richards does an excellent video tutorial on the internal and external conversations that an advisor needs to have in these times.