Updated Friday, November 21, 2014 as of 7:16 PM ET

3 Smart Habits of 'High-Performing Advisors'

Despite seeing the highest assets under management and compensation levels since 2007, many financial advisors appear to be falling behind when it comes to positioning themselves for future success, according to a new Fidelity study.

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Comments (1)
My personal bias is that differentiation is the absolute key to not only growth but survival. In my work with bank wealth management groups and financial planning firms, I stress this above all else. Advisors and planners should do a Client Life Situation Analysis first by identifying which of six life situations the client is in, hone it down even further, identify issues associated with that specific life situation and then discuss strategies and techniques to address the issues. For example, if someone is Single he/she is either straight or gay. If he/she is straight then it is either probable that marriage will occur, or it's improbable. Each has its own set of issues. The same with About to Get Married, Married, Separated, Divorced and Widowed. Investment Advisors are a dime a dozen, and the the astute investor sees very little difference in approach, tools and results. My newly released book, COVERING YOUR ASSets-A Complete Guide to Wealth Preservation and Asset Protection, would be a good place for the serious advisor/planner to begin the process of differentiation.
Leonard Critcher
www.amazon.com/author/leonardcritcher
Posted by Leonard C | Thursday, April 10 2014 at 4:41PM ET
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