Financial Management’s Post

The latest collab between our fearless leader Billy Hopkins and Intention.ly's Kelly Waltrich just dropped! 📰 It's all about what we do to ourselves ... the self-inflicted pain of workhorse culture. You know the story: advisors take on too many admin tasks and need to delegate or outsource so they can free up time to do what they do best. So what do we do? Here's their advice: 🔍 Analyze: Track your time for a week to see where it's going. Be honest about what's impactful and what's not. 🤝 Delegate: Identify tasks that can be handled by others so you can focus on your strengths. 🔧 Optimize: Regularly reflect on your time allocation and adjust to stay aligned with your business goals. Let's close the gap between what we do and what we do best. Read the full article to explore how you can make meaningful changes and thrive in your practice.

 https://bit.ly/3VHAi6G #FinancialAdvisors #WealthManagement #SilverOak #JoinSilverOak

Your team sucks. They’re underperforming. Wasting resources. Burning money. “Andrew, there's been a mishap in my team - what do I do?” It sucks to suck, but: We get this question probably once a week from our large and diverse pool of small business owner clients. Obviously - it often leads to a termination, redundancy, or sometimes even worse, nothing at all. It comes to no surprise that this is often the case. These distractions are not needed when growing a business - so often ignored in hope they’ll fizzle out. They never do. Here’s how us business advisers address an underperforming team: Look, this time of year is usually stressful as hell for business owners. (Me included). Your numbers are flying around everywhere. Zero time away from the business or time to yourself. It feels like you’re on the phone to your accountant or adviser 24/7, trying to get your business in the best position for growth as we enter a new financial year. If you’re feeling severely stressed and would love to know where your business CURRENTLY sits in comparison to the rest of the industry, feel free to send me a DM. #teammanagement #growingateam #smallbusinessgrowth

We believe in setting goals that make work a better place and boost team spirit, It's not all about the financials. Non-financial objectives are key to a fantastic employee experience and a happy, engaged team. When you craft a killer company culture and values, financial success naturally follows suit. It's all about the feels – making employees happy, delivering outstanding customer experiences, and creating a positive vibe that goes beyond the numbers. 🙌 In our latest blog we dive into the HOW! 💡 Read more 👇 https://lnkd.in/dmC6kcqm

Take your productivity to the next level this year with these top productivity hacks for financial professionals. -> https://lnkd.in/eSxSUuDb

Procrastination and distraction can often challenge even the most dedicated financial professionals, unsettling the best-laid plans. This insightful article from #Investopedia offers essential techniques for staying focused and consistently moving forward. As you master these skills, why not elevate your journey even further? At 1847Financial, we offer a collaborative and supportive environment tailored for growth and success. #1847Financial #FinancialInsights #CareerDevelopment https://lnkd.in/gXzGmCcY

BTE back again this time were talking all about business burnout something everyone one has experienced or is experiencing particularly in our post COVID-19 world and current economic situation. This will be a two parter because the more information the better for everyone we want to open up the platform so that businesses can speak freely about their struggles and find the right information to move forward! #BTEGOC #businessburnout #positivechanges

Derek N.H. Notman, CFP®, founder of Conneqtor, has dedicated countless hours to perfecting the art of digital financial advising, so you don't have to. His expertise has distilled down to three key ingredients that can turn your financial advising practice into a digital powerhouse: 1. Embracing Technology The first thing you need from embracing technology is the willingness to adapt. Secondly, you need a clear understanding of digital tools and platforms which can make your practice more efficient. Merge these two, and you can start to create a virtual business that lets you work from anywhere, maintain a life-work balance, and reach clients globally. 2. Building a Virtual Team To navigate the digital world successfully, Derek advises avoiding a solo approach. Instead, build a remote team that can support your digital transition. An example of this is leveraging virtual assistants or digital marketing experts. Use their skills to enhance your digital presence, and then continue to invest in their development. 3. Creating a Mutually Beneficial Practice The digital model, as per Derek's insight, is advantageous not just for the adviser but also for the client. By starting with a clear vision of what your ideal life and business look like, you can then devise a plan that's beneficial for both parties. The goal is not to sacrifice your hopes, dreams, and goals in the process of helping your clients achieve theirs. Derek's lessons from Conneqtor serve as a blueprint for financial advisers looking to transition into the digital world. His emphasis on embracing technology, building a virtual team, and creating a mutually beneficial practice are key takeaways for any adviser looking to adapt to the 21st-century digital landscape. Learn more about Conneqtor here: skool.com/conneqtor

After a decade in my previous financial company, I have decided to move to Vantage Financial. I’m grateful for all the great experiences and lessons I learned during that time, it was a big part in helping me become the person I am today. A lot of thinking and discussing went into this decision and these are a few of the reasons WHY 1. 100% ownership of your business. My goal is to create and build something I can call my own 2. Room for Growth. Just like any industry, evolving and growth are keys to succeeding. If that’s not happening, you get stuck. 3. A platform that provides the right tools and puts you in position to succeed. Updated technology, higher compensation contracts, variety of great products. One chapter closes and it’s on to the next one. The platform may of changed but the goals didn’t, let’s go!! 🔥🔥🔥 #iamvantage #newbeginnings #nextchapter

𝙎𝙤𝙢𝙚 𝙛𝙞𝙣𝙖𝙣𝙘𝙞𝙖𝙡 𝙖𝙙𝙫𝙞𝙨𝙤𝙧𝙮 𝙩𝙚𝙖𝙢𝙨 𝙬𝙤𝙧𝙠 𝙬𝙚𝙡𝙡 𝙩𝙤𝙜𝙚𝙩𝙝𝙚𝙧 𝙬𝙝𝙞𝙡𝙚 𝙤𝙩𝙝𝙚𝙧𝙨 𝙙𝙤𝙣’𝙩. Ever wonder why? The difference is a shared vision. But don’t all partnerships and teams establish a vision? You could argue yes, they do, but forming a meaningful vision that acts as a guiding light to accomplish a series of goals is a lot like financial planning – the plan (or partnership) will fail if you don’t understand the individual wants and needs of who it affects. Accomplishing individual needs is why the team exists in the first place. A team forms when its potential members realize they’re more likely to achieve their individual goals by working together.   So before forming your team (or if you wish to refresh your team) make the effort to identify what each person hopes to gain. Fulfilling those needs is the glue that will keep the team working together. 𝙃𝙚𝙧𝙚 𝙖𝙧𝙚 𝙩𝙝𝙧𝙚𝙚 𝙨𝙩𝙚𝙥𝙨 𝙩𝙤 𝙘𝙧𝙚𝙖𝙩𝙞𝙣𝙜 𝙖 𝙨𝙪𝙘𝙘𝙚𝙨𝙨𝙛𝙪𝙡 𝙥𝙖𝙧𝙩𝙣𝙚𝙧𝙨𝙝𝙞𝙥. 𝙎𝙩𝙚𝙥 1. 𝙒𝙝𝙖𝙩 𝙖𝙧𝙚 𝙩𝙝𝙚 𝙜𝙤𝙖𝙡𝙨? Identify the individuals’ goals first and seek to understand both how important they are and how the individual is motivated. Some people are extrinsically motivated, meaning they want rewards that are obvious or visible like money and awards. Intrinsic motivation is more like personal or professional satisfaction. If you understand how they are motivated it is easier to establish meaningful team goals and make course corrections when things aren’t going well.       𝙎𝙩𝙚𝙥 2. 𝙒𝙝𝙖𝙩 𝙬𝙞𝙡𝙡 𝙗𝙚 𝙜𝙞𝙫𝙚𝙣 𝙖𝙣𝙙 𝙬𝙝𝙖𝙩 𝙬𝙞𝙡𝙡 𝙗𝙚 𝙧𝙚𝙘𝙚𝙞𝙫𝙚𝙙? Each element of an advisory practice must be satisfied from business development (finding), practice management (minding), and administration (grinding). So, who will do what? Discuss each partner’s contribution to create team cohesion. You may find motivation is again the key to a shared vision when splitting up tasks. 𝙎𝙩𝙚𝙥 3. 𝙃𝙤𝙬 𝙨𝙝𝙤𝙪𝙡𝙙 𝙩𝙝𝙚 𝙥𝙖𝙧𝙩𝙣𝙚𝙧𝙨𝙝𝙞𝙥 𝙗𝙚 𝙨𝙩𝙧𝙪𝙘𝙩𝙪𝙧𝙚𝙙? Will it literally be a new company with a shared business model (branding, marketing, processes, resources, etc.), a limited shared overhead arrangement, or will it be more like a mastermind group sharing only ideas? If revenue or expenses are shared, ensure all legal documents are clear to prevent misunderstandings later.       All new teams should begin with a deep dive planning session and existing teams really should renew or refresh their vision regularly. While in no means comprehensive, these three steps can make or break your ability to achieve your vision of an ideal advisory practice.     #financialplanners #CFP #financialadvisors #financialadvisers #wealthmanagers #financialadvisorcoaching #cegworldwide #partnership

How to set your business up for success in 2024. I presented at our team Kickstart the Year meeting last week. Here’s the key message I delivered: Capital will be 20 years old this year, so we’re a mature business with established systems, processes, and technology. We’ve enjoyed success, won awards, grown the team, and built a great company. However, we need to forget all that. We need to begin the year with a refreshed mindset. We need to ask ourselves: “if we were starting a world-class financial planning business today, would we still use the same systems and processes”? I shared the philosophy of Shoshin, a concept from Zen Buddhism that means “beginner’s mind”. It refers to having openness, eagerness, and a lack of preconceptions, just as a beginner would. Shoshin challenges the closed-mindedness often associated with experts and those with lots of experience or who have been in business for years. Jeff Bezos introduced a similar strategy at Amazon called 'Day 1', and all managers are encouraged to imagine what it would be like if it were the first day of a new business. No sacred cows, no “we’ve always done it this way." Fresh thinking, future-focused, modern, progressive, and exciting. I’ve got a clear vision of the future of financial planning, and it’s quite different from the current model. After 20 years in business, I’ve never been more positive, energised and excited by the opportunities that lie ahead. We’re in the business of ‘helping humans' and from what I see, we’ve got a lot of work to do. Let’s go 2024 🚀.