Leave a comment

Stop Running and Start Planning for Productivity

As a productivity coach for financial advisers, I find it ironic that many advisers plan for their clients but not for themselves. When I say they don’t plan, I mean they don’t plan for the day, the week, the month and certainly not for the year. So of course, planning out five to 10 years isn’t even on their radar.

Planning can be the difference between growth and stagnation for your practice. Running through the day with no plan or vision of where you are going can work for a short time, but it causes stress, overwhelm and even grumpiness in the long run.

In order to become a more productive planner for your practice and develop a planning muscle that will support a thriving practice in 2030, here are a few things to begin working on now:

(1) Know What You Need and Value

Before you even look at your calendar, look inside to see what matters to you. When you know what you need and value, you can then let that guide your vision, mission and decision making for your practice. If can be very unfulfilling if you plan your day, week, month, year or ten years BEFORE you know what it is you need and value.

For example, if one of your needs is ‘family time’ but you never plan for it, productive planning can help you meet that need. This approach assures that your 10-year plan and your daily plan are in alignment with who you are and what you want.

(2) Create your Ideal Week

If you woke up on Monday and lived your life through Sunday night, how would it ideally unfold? This VISION is what you want to create. The chances of living your ideal week consistently are slim but without a vision of how you want your week to look, you’ll end up meandering through your days. This is no way to grow your practice or live your life. Many of my clients include an hour in their ideal week to assess their 3, 5 and 10-year plan progress. This also gives them the chance to check in on how they are aligning with their values and needs.

(3) Get Your Tasks Out of Your Head

If you have “the swirls,” which is keeping all your tasks in your head, waking you up at 2 a.m. in a cold sweat because you forgot to do them, please help your brain and get them on a to-do list.

The list never goes away, but you start to notice that the same tasks go undone. You start picking the easy, unimportant ones that move you no closer to your goals. Or, you procrastinate with ones you don’t want to do and then scramble at the last minute to complete them. And, my personal favorite, you do things that are not on your list but you’ll add them just so you can check them off! (Yes, I’ve been watching you.) A to-do list can certainly help your brain and work wonders for some people but if you want to get to the next level, keep reading.

(4) Schedule Your To-do List

This is probably the most important tip to being more productive on a day-to-day basis. The goal here is to completely wean yourself from your to-do list. Decide when you PLAN to get something done, put it in a time slot on your calendar and commit to doing it. It’s not for everyone but I dare you to try it. Once you develop this scheduling muscle, your roadmap to 2030 will become much easier.

(5) Stop Being Reactive

So often, financial advisers operate in a reactive versus proactive mode. They put out fires all day: answering emails and phone calls, tending to clients who “drop in” unexpectedly and accepting constant interruptions. Having a daily plan will make you more proactive and help you manage those interruptions. Having a long-term plan prevents you from continually chasing shiny pennies and gives you permission to stay focused on your path.

The power to stop running and start planning is within you. Master these planning skills and by 2030, you’ll be one fine-tuned productivity machine leading the pack, not being left behind.

Patty Kreamer

As a Productivity Coach for financial advisers, Patty Kreamer coaches her clients to clear the clutter that blocks their success, take control of their time and get more done. Productivity is the result of everything she does. Patty is a sought-after speaker, bestselling author and owner of Productivity Uncorked, LLC.


Editor’s note: This article originally appeared in the FPA Coaches Corner whitepaper “Action 2020: Create Business Success for Today and Tomorrow.” Download the whitepaper here

Untitled design (7)

1 Comment

How to Thrive Through a Financial Crisis

We deal in facts and figures; no question about that.

However, as we cope with the business fallout from COVID-19 (aka coronavirus) it’s worth remembering that, when it comes to our clients, we are also dealing with the full spectrum of human emotion that comes with investing capital for the future.

The opportunity afforded by this crisis is for you to grow as a financial planner in two ways. One, to take stock of how you deal with uncertainty and build professional resilience. Two, to courageously step up for clients and provide the reassurance needed that their financial goals—and dreams—are still achievable.

We are about to have some difficult conversations, driven largely by fear. What I’d like to do is help encourage and reframe these conversations so that you can be in a place to offer empathetic insight to anxious clients wondering how COVID-19 will affect their money.

So where do we begin?

Prepare and Self-care

Before you even start to think about how to deal with the business fallout of the crisis, check-in with yourself to make sure you have the well-being tools at your disposal to cope and thrive. If you have a mentor, speak to them to establish context for what is happening. If you don’t, I recommend seeking out digital resources to gain a sense of perspective and direction. Josh Brown, CEO of Ritholtz Wealth, shared an inspirational talk he gave to safeguard the well-being of his team and help young financial planners navigate this crisis with their clients. Let Josh’s voice be your own!

Pick Up the Phone First

Be the financial planner who proactively reaches out to clients before COVID-19 panic motivates them to call in a frenzy. Check in with them first to see if they are doing OK, if their family is healthy and if there are any immediate ways you can be of help. Be as vulnerable as they are and have a human conversation before you pull it back to their financial plan and address any concerns about their investments.

Acknowledge and Repeat Their Concerns

When rational thinking is in short supply, our primary concern is to ensure our clients don’t derail their long-term goals and strategy. What some may be feeling right now is a fight or flight reaction, at odds with the logic that brought them to their investing journey. You can’t talk them out of how they’re feeling in this moment; it’s akin to telling someone with a cigarette in their mouth to stop smoking.

First, acknowledge that you’re thankful for them opening up—that it’s normal—and repeat back what you hear. Right now your client is looking for empathy and some emotional skin in the game, not a silver-tongued voice of reason. We get it, this sucks, now let’s take a deeper look together.

Create Space

Before this conversation gains momentum, stop it in its tracks and create some space. Tell them you’re pulling up their file; put them on hold. This gives them a chance to pause (and center) and creates a platform for you to drive the conversation. Right now your client feels an absence of control over their external environment and they need you to remind them of what they can control: how to react.

As Dr. Robert Cialdini’s six pillars of influence, which he set forth in his book Influence: The Psychology of Persuasion, suggested now is also the moment to establish authority…quickly. Data and facts may not help irrational thinking, but clients still want to know you’re on top of things. Have your evidence-based information ready to start the conversation.

Refocus on Their “Why”

When you first started this relationship, you spoke at length about their financial goals, values and reasons for investing. That was a good conversation. This one can be too if you pull them back from the immediate reality they are focusing on and go big picture. Ask them once more about what the purpose of investing was and scale it back to what was always a longer-term timeline. Our worst decisions are made when we can’t construct a positive future, especially with the repercussions of COVID-19 confronting us daily. Remind them of their financial plan and use visuals to show that things will get better in the future. Even better, pull up their plan and show them that all their goals are still within reach.

Word Choice is Everything

Gently remind them that your strategy accounted for market fluctuations, even at this level. Use phrases like “Remember, we discussed” to reassure them that this is well-trodden ground and not unplanned for. Now is a good time to use empowering language to bring your client into feeling an active partner in what happens now, rather than a passive victim to the markets. It’s our strategy, it’s our financial plan and it’s our goal. Remind them to trust the decision-making skills that led them to invest in the first place.

Anchor Their Experience

Anchoring clients in recent history, with timelines, is also helpful. Provide the wider context, as you did at the start, that markets are cyclical. We fear bear markets because of fear of the unknown. Six years ago, we had a bear market.  Do whatever you can to give things form by linking their experiences to the past. For example, the average bear market losses are X. The average bear market lasts this long. Again, be aware and intentional with the words you use. Focus on using positive words that infer we will get through this.

End with Hope

You didn’t have to rush to call the client, but you owned the situation and did. Your priority was to give some reassurance and a regained sense of control. You did this because you understand that living through a market downturn isn’t about portfolios and percentages for them. It’s about the thought of having to stay in a job longer, not being able to afford a child’s education, not seeing out a lifelong dream.

There will be many of these conversations ahead and I encourage you to embrace them. Contextualize each one around your client’s unique set of dreams and fears. Do that each time and you’ll provide the balance of normalization and hope needed.

Much better, you’ll strengthen the bond you have with your clients, through authentic, considered financial leadership.


Amyr Rocha Lima, CFP® is a partner at Holland Hahn & Wills LLP, a financial planning practice based in the United Kingdom. Recently named by Citywire as one of the UK’s Top 35 NextGen Financial Planners, Amyr specializes in retirement planning for successful business owners and senior professionals, serving clients in London and the South East of England. Follow him on Twitter @a_rochalima or check out his personal blog www.amyr.co.uk. Connect with him on LinkedIn


Editor’s note: This article is in the forthcoming April issue of the FPA Next Generation Planner. 


1 Comment

Three Important Business Tips in the Age of the Coronavirus

The coronavirus, COVID-19, has uncovered flaws in many financial planners’ disaster recovery plans, and even normal business plans (if they have them.) None of us could have predicted a worldwide pandemic however, here we are and it’s our responsibility to help our families, clients, associates and businesses get through these difficult times.

In the fall, I created a presentation titled “How to Grow in a Recession.” If you have been in the profession long enough, we all know it was just a matter of time before the market heights were going to take a fall. However, no one saw the economy coming to a standstill.

I cannot say I had a crystal ball, but I am glad I put together advice to help financial planners through a difficult time for their businesses. Unfortunately, all events are cancelled or postponed so I cannot present the advice when it is needed most, so I thought I would share these helpful tips in an article:

(1) Be Proactive

One thing that we have learned from past recessions is that the financial planners in front of a market crisis are the ones who have the best retention rates and actually can gain the most clients. Believe it or not, a period of market turmoil can be one of the best times to win new business. Yet, financial planners become so laser focused on their clients, their prospecting efforts get neglected.

In a time when we are supposed to be “social distancing,” go back to really working the phones. Video conference those who feel comfortable using this technology. Contact as many people as you can to be there for them and remind them you want to help others like them who might need help. With clients, this will reassure them, strengthen the relationship and prevent the competition from picking them away. For prospects, it will get your foot in the door, especially if they have an underwhelming adviser relationship. For those do-it-themselves investors, now is when they doubt their investing abilities the most.

The trouble with the one-on-one meeting approach is that it is very time consuming and difficult to do right now. For that reason, also use all forms of mass communication on a more frequent basis. Make sure to set up webinars, video meetings and maybe conference calls. All of these can be recorded and can be edited to use for replay purposes.

Most financial planners do not create enough videos. Now is the time to do so. Your target market can and will connect better with videos than they can with the written word.

Email and social media are obvious choices for any types of marketing and client service content that needs to be shared. Pay attention to engagement measures (like click-through rates for emails and likes on social networks) so with every communication you get a little smarter each time.

For prospects, create a giveaway related to this market crisis that they can only get by trading their contact information. Create a unique landing page that gets virtual leads and makes them real leads. Once you have a good lead funnel set up, promote it like crazy and track that it is delivering a positive ROI.

(2) Be Personable

Soon robo threats to financial planners will be able to share market communications in a much better way than they are now. Their communications will be timely and even personalized. The way to differentiate, now and in the future, is to be a person, not a robot. What does that mean? Humanize each communication.

Besides one-on-one meetings, the best way to do this is to use personalized video emails. This is not a video uploaded to YouTube or Vimeo that goes to the masses. This is a message just intended for a unique recipient. Technology now allows this to take place.

To call each client in a 150-household client base can take weeks. However, sending a sort two-minute personalized video to each family can be done in one day. These messages do not replace in-person communications, but they definitely complement them, as the recipient feels almost like they are sitting across a table from their financial planner.

These personalized videos should be part of every client service model. This could not be truer than now when the human race is having fewer in-person interactions than any other period in our lifetimes.

Check out a partnership we created to help financial planners use this new marketing tool.

(3) Be Empathetic

Never forget you are talking to humans. Many in the industry are numbers people. We are planners. Most certainly, we are problem solvers. Clients need help in all those areas. However, in today’s scary, isolated world, they just might need to be heard.

Make sure to provide emotional support—now more than ever. Truly listen. Practice active listening best practices. If you find yourself inserting your two cents before the clients are done talking, you most likely need to work on your listening skills.

Because financial planners are paid to give their advice, and are not officially therapists, it often seems counterintuitive to not speak. But, if you can use video conferencing, an empathetic facial expression or nod of the head might be all they want. With verbal communications, a reinforcing word or two can do the trick. In these volatile markets, we might feel pressed for time, but do your best not to rush discussions.

Remember, sometimes the client just needs a friend to walk along side of them during difficult times. We are all going to be on this emotional roller coaster for what could be months. Try to put yourself in clients’ shoes and help them the best that you can.

As part of the Coaches Corner, Byrnes Consulting is a partner with the Financial Planning Association. As a member benefit, set up a free Business Growth Strategies consultation. If you are an active member of the FPA, we would be glad to help.

Want more tips? Visit the FPA Coaches Corner Business Growth Strategies page for insightful advice.

Mike Byrnes Headshot

Mike Byrnes is a national speaker and owner of Byrnes Consulting, LLC. His firm provides consulting services to help advisers become even more successful. Need help with business planning, marketing strategy, business development, client service and management effectiveness? Read more at ByrnesConsulting.com and follow @ByrnesConsultin.