The RARE Advisor: How to achieve your ideal practice 🥇

Nov 4, 2021

Achieving your ideal practice requires you to be a contrarian.  You will never get there following the mainstream down the path of products, pricing, and performance.  But you can get there through Process and Platform Partnership.

1. Understanding What Matters & What Can be Controlled.
   • Working too many hours?
   • Inconsistent revenue streams?
   • Do you live and die on prospect flow?
   • Do you run endless seminar events?
   • Staff turnover?
   • Chained to your desk?
   • Unable to regularly duplicate your best clients?
   • THIS ALL MATTERS & CAN ALL BE CONTROLLED
2. What WILL NOT help any of this is Products, Pricing & Performance.
3. What WILL help is Processes & Platform Partner.
4. Your IDEAL Practice Requires and IDEAL Partner.
   • Ivy League Universities = 5% Community Colleges = 100%
   • Law of Familiarity / Loyalty Fatigue.
     • Are you just a number?
     • LPL has 19,000 today -- CEO is targeting 300,000
       • Financial Advisor IQ & Barrons

5. Your Story
   • Your Goals
   • Your Barriers
   • Your List that Makes up Your Ideal Practice
   • How your Ideal Partner can get you there.

Sources Referenced:

-Financial Advisor IQ, September 16, 2021, LPL Capable of Growing to 300,000 Financial Advisors: CEO.

-Barron's Advisor, September 13, 2021, LPL Financial is Growing Like Gangbusters.  Expect More, CEO Says.

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The RARE Advisor is a business model supercharged by Recurring And Repeatable Events. With more than thirty years of working with and coaching successful advisors, host Mike Walters (along with other leaders in the industry), discusses what it takes to grow a successful practice. With the aim of helping financial professionals and financial advisors take their business to the next level, Mike Walters shares insights and success stories that make a real impact. Regardless of the stage of your practice, The RARE Advisor will provide thoughtful guidance, suggestions for developing systems and processes that work, and ideas for creating an authentic experience for your clients.

The RARE Advisor is part of the Advisor Advancement Network, powered by USA Financial and committed to empowering financial advisors and financial professionals since 1988.
Advisor Advancement was born from a desire and a need for our contributors to communicate with the financial advice community in a much different way. Created by industry professionals committed to advancing the advisor profession one video, blog, podcast, and tweet at a time. We talk about practice management, marketing, compliance, business development, and a myriad of other things financial advisors may want to hear, rant, or lament about.

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