For financial Advisors, one of the biggest concerns in developing and maintaining their business is GROWTH. It goes without saying: if you can’t grow your business, you’re out of business.
The first and most important part in creating and developing growth is implementing a plan. The first step is having a successful transition. At Good Life, we emphasize the importance of preparation for a transition and aid in the process. Our nine-person transition team does all the heavy lifting for you. From preparing all the new account forms to opening all of the accounts, all the Advisors have to do is focus on visiting clients and telling the story on why you made the move. Moving as much of your business as possible during a transition is the first and most important step in being successful in this endeavor and start on the right foot.
Once Advisors are through the transition it’s time to focus on marketing and having a dynamic presence on the web and social media. Good Life has a team of seasoned professionals that focus on aiding in the development of a vibrant website and interactive social media pages. Being searchable on the web and projecting the right message is extremely important in the overall success of your practice. We at Good Life specialize in crafting your message in a professional manner.
Beyond the transition and marketing aspects of your business, it’s important to make sure that you are utilizing all the technology available to you. With the level of tech currently out in the market place, there are many efficiencies that can be implemented with the basic usage of a streamlined client relationship management system, basic practice management principles and proper usage of the resources offered directly though an affiliation with Good Life. We focus and continually work with our Advisors across the country to make sure they are making the most of their time and the assets they have access to through their affiliation.
Developing new business is a major area of importance in highlighting what we do effectively at Good Life Advisors. As you may have seen above, we boast a 106% year two ramp rate. That means that in the second year of an affiliation with Good Life, our Advisors, on average, grow past the revenue they initially were generating at the time of their transition. This is a testament to the effectiveness of our transitions team as well as the practice management team. Beyond these aspects, other ways we help our Advisors grow is by continually aiding in the development of new opportunity drivers. In February of 2016, Good Life Insurance Associates was officially launched. With this new insurance arm of Good Life, our Advisors have access to an insurance platform for better pricing on insurance products and also have the ability to affiliate with insurance agents and brokers to create cross-selling opportunities. Good Life is also a “cross-platform” OSJ, which means we work with local banks and credit unions as a way to provide our Advisors a new lead source. Recruiting additional Advisors into affiliated practices is another way to develop growth with an individual practice. When recruiting we look at the entire office and determine where there may be a lack in service offering, then scour the market place for the right advisor to complement the entire group.
Through these seemingly basic channels of focus, Advisors affiliated with Good Life have experienced growth in their practices year after year and have added additional service offerings to an already lengthy list.