Fewer Clients, More Focused Service Results in 20% Growth
It sounds counterintuitive doesn't it? I'm going to grow my business by reducing the number of clients I serve? And yet, that is exactly what happens with Supernova. Not only do clients benefit from being able to plan ahead and becoming engaged in the process, so do the FA's who commit to making Supernova work.
Get more sanity in your life, have a clear focus on your practice and grow your business- those are 3 of our coaching goals.
Here's how it is working today for one advisor who was willing to cross the invisible bridge:
A commitment of my 2012 business plan was to implement the Supernova program in a manner consistent with my current business model. We had already reduced our book to about 40 primary households and had determined that the number could be reduced further through self-selection as we focused on our most desirable relationships.
Since then our Supernova households have self-selected to 36. All but a handful have been on-boarded to the program. The balance should be brought on in the next few weeks.
At year-end 2011, our run rate was $65,300 per month. Today it is about $78,000, a 20% increase. April’s production was $89,000; May should be above $90,000. In addition, because of more frequent and purposeful contact, we have upcoming meetings and events with clients and prospects that are exciting, offering some real opportunity for even meaningful future business.
Our clients have all expressed delight with the process. A typical response is one of feeling both relieved that they know they can plan ahead and more engaged in their own financial affairs.
I, in particular, like this process because I know what I need to do each day for clients. I feel more in touch with their needs and it gives me just enough structure to feel a daily purpose, but is not so rigid that I feel confined.
Just thought you might like to know how successful and enjoyable the experience has been for my team.
Christine, Wealth Advisor, Seattle
The benefits are just too great to ignore. In spite of the markets and economic concern, Supernova can help you grow your business while taking even better care of your clients. Join the Supernova Advisor Community today and we will show you how to implement ideas like these in your practice.