In a Nutshell: The top 20% of RIAs aren’t just the biggest. They’re the firms whose best practices lead to sustained growth, high valuation, and an enduring business.

Guests: Lisa Salvi, Vice President, Advisor Services, Charles Schwab and Catharine Aguilar, Chief Marketing Officer, CornerCap Wealth Advisors.

My Key Takeaway: To prepare your firm to make a big leap in 2021:

  1. Standardize your workflow, write out your plans, and strengthen your value proposition by creating a clear, definitive ideal client profile/persona. These are actionable activities that can lead to growth and low attrition.
  2. Build metrics that allow you to track and manage your progress on top-line growth, customer service, and profitability–and hold your team accountable for meeting them.
  3. Always be recruiting. Billion-dollar firms are always hiring the best people, even if that means poaching from another advisory firm.

Also Learn:

  1. Why Lisa, Catharine, and I are such big believers in the annual planning process.
  2. How hiring a diverse group of top performers from inside and outside of finance can lead to stronger culture and greater innovation.
  3. What kinds of motivation and incentives the next generation of your firm’s leadership will respond to.
  4. How embracing authenticity can lead you to more effective social media strategies.

Complementary Episode: Earlier this year, Lisa joined me and top advisor Bill Keen to discuss how to adapt your marketing strategy to the pandemic environment. This page also has some of my best marketing resources. Watch/read here.

Resources Featured In This Episode

Webinar Replay and Resources Watch my conversation with Lisa and Catharine and download some valuable info, including Schwab’s two Benchmarking Studies for 2020.

Values Clarification Toolkit Click here to download this FREE tool and start living your values.