 Hosting a seminar is one of the building blocks in developing and sustaining a thriving financial services practice. I believe that too many advisors use the seminar to just write business. Don’t get me wrong, that is what we are trying to do, but that shouldn’t be the end-all. If that were the case, you would just be getting customers, and not clients. The successful advisor has a clientele, not a book of customers. Let me further explain... Have you or your children ever owned a hamster? If you did, you probably purchased a little wheel for their cage. It was amusing to watch the hamster run its little legs off. The problem was, the hamster never made any progress. The wheel kept turning and the hamster kept running. This is how I see the advisor that is making “one-off” sales. He is destined to find new prospects, for he will not get additional business from customers. The client views the advisor as someone to be trusted, that will review their situation on a regular basis, and one that will keep them updated on new laws, regulations, opportunities and potential potholes. How do you develop the clientele as opposed to a customer base? Let’s examine:
You deserve long lasting clients and long term success. You work hard for your family and deserve assistance. You should align yourself with people that share your passion and have the tools to help you succeed! We have solutions to all of your marketing needs. Give us a call and we will help you gain clientele who will reward you with more referrals and more business.
 One of the greatest amazements in my 30 plus years in this business is the financial professionals’ inability to obtain referred leads. Is it an inability or a refusal to attempt to obtain these nuggets of gold? Today’s advisors will spend tens of thousands of dollars in seminar costs to get new “leads”. Is there, or has there ever been, a better lead than a referred lead? Professionals obtain their leads through referrals and there is no reason we shouldn’t as well. But, how do you get back in the referred lead business? Is there a system? You bet there is… Obtaining referred leads is an art. I was fortunate to have excellent training as a career agent with American General, and this was the way I obtained my clients. I did direct mail and seminars... hard to believe seminars were also conducted in the 70s & 80s. Many think they are a new phenomenon. I built a large agency on this method and the process is basically the same. Every client should provide you with three to six referrals per sale. Unsold prospects should give you one to two. Centers of influence should provide you with more, and strategic alliances with other professionals should yield additional leads. The professional advisor should devote part of each day to prospecting, and prospecting via referred leads is money in the bank. I referred to obtaining referred leads as an art. That is true, but it is also a science. With a downturn in seminar attendance, with the press writing about free meal seminars, and "Do Not Call" lists, don’t you think it is time to get back to basics? The Ohlson Group understands the process and teaches it to our field associates. There is a system, we employ it, and we can teach it. So, if you are looking for a teacher, give us a call. Operators are standing by.
 Our clients will work all of their lives attempting to accumulate that nest egg to take care of them during those Golden Years. It’s a tough job. There are a lot of distractions along the way, like buying their first home, maybe start a business, and let’s don’t forget braces for the kids’ teeth and their college tuition. Plus, they had some fun along the way. There were family vacations, maybe the big anniversary gift and so on and so on. Your clients have taken pleasure in creating a prosperous lifestyle; They chased the American dream and tried to convey a more prosperous lifestyle for their children. Then they retire and it's time to settle back and enjoy different facets of life. Not working is a big transition in and of itself, however living the rest of your life off of your nest egg and social security is an even bigger transformation. This period of time could be the most challenging and difficult of all. Their retirement income becomes more important than ever. You see, prior to retirement, they earned money, but at retirement, they become beneficiaries of retirement income. One of their income streams is social security. The rest doesn't just magically appear. It comes from their nest egg! Will that last their entire lives? How long will they live? Will their spouse be in financial danger? How do they know? How do they avoid making a mistake when planning their retirement income? This situation is much different than previous generations. It will be even more different, and more difficult, for generations to come. Why, you may ask? Well, people are living longer, so our money must last longer. Another important factor to consider is inflation. Inflation at 4% can have a devastating effect on their spending dollars. The past 20 year average is 3.6%. It’s also important to note that the health care inflation rate is more than double the general inflation rate. Your clients can’t afford to make mistakes. It’s different if you make a financial mistake at 26 years old, or 36, or 46… even at 56 you can still recover. But it’s much more difficult to recover at 66. Today’s pre and present retirees need to have a plan… not just a product. Retirees need solutions and assurances. They need the services of a trusted advisor that can provide guarantees regarding their retirement income. My suggestion is a complete review with your clients. Determine a retirement income amount that is necessary, adjust for inflation, factor in their life expectancy, then implement and monitor the plan. This requires dialogue, a conversation, and especially a professional. Give your clients a call today. This is too important of a subject to ignore. Their lifetime income could depend on it. Pick up the phone and call them today. If you don’t... someone else will.
 Gross sales are an extremely important part of our business, but they are not the end all. Many companies break sales or revenue records but see decline in their net profits. I believe that net profit is a critical aspect of our business that may need some investigation. Let’s make it personal and look at what we do everyday with our own assets in our quest to create a meaningful income, while striving to build a practice that will stand the test of time. First, we must examine the assets that are available to us. Unless things have changed, I view them as:
Time is very finite. We can’t buy more time. So what might the answer be? Delegation is the answer. Utilize or hire staff that can perform tasks that would free you up to continue marketing and selling. Prioritizing is also an important part of time management. I continue to complete a “to do” list for my next day’s activities. I prioritize them and start crossing off the next morning. Rarely do I complete all of my tasks on that day, so there is always a bit of carryover, where I strive to take care of those items immediately. Microsoft and other software programs can assist you with reminders and deadlines, although I still believe that tasks seem to take on greater meaning when I am writing on pen and paper. It’s also important to know your market. When can prospects be contacted, when can clients be seen and when is a good time to communicate via mail. These are the times when you create revenue. Don’t use revenue time to perform administrative duties. I must repeat . . . use your calling and contact times when they are optimal. What about personal and professional time? Make sure you schedule vacations, time for study, and time for meetings. The interaction with people and resources will prove stimulating and profitable. Time away from the office allows you to step back and analyze what you are doing. Plus, a good personal life with family is a by-product and benefit of our profession. Don’t waste it! These are but a few items to consider when evaluating time management. Entire books have been dedicated to this subject. It is one of the most important factors that has a direct influence on your net profit, or lack thereof.
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The Ohlson Group LLC provides links from its website to various third party sites which may enable you to obtain locations and information outside of The Ohlson Group's control. The Ohlson Group LLC neither controls nor endorses such other websites, nor have we reviewed or approved any content appearing on them. The Ohlson Group LLC does not assume any responsibility or liability for any materials available at these websites, or for the completeness, availability, accuracy, legality or decency of these sites.
CLAIMS OF COPYRIGHT INFRINGEMENT
The Digital Millennium Copyright Act of 1998, as amended, (the "DMCA") provides recourse for copyright owners who believe that material appearing on the Internet infringes their rights under U.S. copyright law. If you believe in good faith that materials we host infringe your copyright, you (or your agent) may send us a notice requesting that we remove the material or block access to it. If you believe in good faith that someone has wrongly filed a notice of copyright infringement against you, the DMCA permits you to send us a counter-notice. Notices and counter-notices must meet the then-current statutory requirements imposed by the DMCA; see http://www.loc.gov/copyright/ for details. Notices and counter-notices should be sent to [email protected]. The Ohlson Group LLC, (877) 844-0900. We suggest that you consult your legal advisor before filing a notice or counter-notice. Also, please be aware that there are penalties for false claims under the DMCA.
The Ohlson Group LLC and or Joseph R. Ohlson LUTCF is licensed to do business in all states except New York.
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