10 Best Practices from Top Producers

Reading Time: 5 minutes

What are the best financial practices in the country doing right now? Aside from reading the Impact Partnership blog, they’re embracing new strategies to grow and innovate their practices, they’re building trust and relationships with their client base, and they’re looking at their existing processes with an open mind and an eager attitude. There isn’t much difference between how a top producer and average financial advisor thinks; but the difference in action, as you’ll read below, is a mile wide.

1. Call Your Clients

The best financial practices are reaching out to five to 15 of their clients daily — just to have a conversation.

Feel free to start casually. “I just wanted to reach out. How’s the family doing?” Let the clients steer the conversation to what’s important to them and what’s on their minds. What’s keeping them up at night?

After the client has had a chance to direct the conversation, now it’s time for a temperature check.

“When we were working on your plan, we talked about protecting against a market downturn and what your risk tolerance is. I’ve learned that sometimes what we thought we could tolerate isn’t quite what we want to tolerate. How are you feeling? Do you feel like the risk tolerance we built the plan on is still the same after experiencing the past month?”

And finally, they reassure their clients. “We’ve planned for this. Everything is going to be OK.” 

2. Educate Your Community

The best practices are the go-to educators for their clients and prospects right now. Here’s how they’re doing it: 

  • Setting up a Facebook business profile to consistently engage and promote events
  • Hosting educational seminars in your community that aren’t boring.
  • Starting or continuing events like First Fridays.
  • Holding virtual Lunch and Learn events or biweekly “State of the Union” talks for their clients.

Remember that clients and prospects don’t have the background nor the experience in the financial field that you do — no matter how much they Google or try to be a DIY financial advisor. They’re hungry for training. Be there to provide it!

3. Embrace Media

Radio and TV listenership are skyrocketing. Podcasts of all stripes are more popular than ever. It’s the perfect time to build your media presence.

Radio, television and podcasts are the best lead generators for any practice. They’re a great way to get your message out in short, consumable bursts and to tie your face to your name. Media adds credibility — you establish yourself as the expert on retirement to those who need it. Impact’s Radio and Television teams produce content tailored to your audience so you become a fixture of financial services in your community from the recording to the broadcast.

It’s pretty cool to be a celebrity in your local market… Impact’s media team can help you get there!

4. Build a Social Media Presence

Online. “It’s where business happens,” or something like that. Certainly, you conduct a good bit of business through the web, and an even bigger part of your business is promoted through social media.

Don’t be afraid to post regular updates about your financial practice, whether they’re formal announcements or casual pictures. People love to see the workings behind the business, and if they recognize the people behind the workings, they’re more likely to trust you and become a client themselves.

Building a monthly media calendar for your practice is an easy way to establish this presence. This way, you can have forthcoming posts laid out in a regular schedule and not just posted scattershot. Our House Rules video about monthly media calendars can help you get started! Additionally, our INFUSE lead support program can boost your social media presence and get you access to educational webinars, helping bring your social media game to the next level.

If this isn’t enough of a refresher, try our blog post and see about refining your own social media skills.

5. Host Client Appreciation Events

Client Appreciation Events, or CAEs, are a great way to interact with your clients and show them a good time as thanks for their continued support.

Galas at local museums, renting out theaters for exclusive film viewings, or a good ol’ tailgate are just a few examples of how you can bring your client community together with an opportunity to add referral business.

For some more ideas, check out Impact’s own Alex House giving out her “House Rules” for CAEs.

6. Create a Client Advisory Board

A client advisory board, or a CAB, is a small group of your existing clients which provides honest feedback of your business. It serves to give an outside perspective of your practice from those who actually experience it on the consumer end.

If you want to read more, check out our blog post here about CABs and how they can improve your practice.

7. Get Involved in Your Community

You live in a place. That place has people. Those people form a community, and you are a part of that community. Relish the opportunity to get in touch with your peers and neighbors. Be present in local charities and organizations! Get your name out there and demonstrate your positive involvement with those around you.

8. Attend a Training Event

Brushing up on your skills is a great way to maintain your edge and make sure you’re informed about new developments and methods.

And if you can believe it, the Impact Partnership has a whole slate of training events at your disposal! In fact, we just wrapped up our annual Practice Builder event, focused on helping advisors elevate their practices to the next level. You can read our recap here and see if Practice Builder is what you’re looking for.

9. Track Your Results

Anybody can generate results. It’s pretty much all any person does. It’s tracking them which makes the difference. How else can you gauge your progress (or shortcomings, if they happen)?

Tracking your results allows you to see in real time what’s working and what isn’t. That way, you can more effectively ditch the inefficient and focus more energy on what produces results. How you track them, and what results you track, is ultimately up to you — but as long as you’re monitoring the ins and outs, you’ll be in a good position.

10. Set Quarterly and Yearly Goals

A rudderless ship has no objective. Give your practice a direction and set goals for you to achieve or surpass. A yearly goal keeps the high-level development in perspective, while quarterly goals provide shorter, more immediate paths to improvement. Like with tracking your results, your goals and timelines are ultimately up to you — determine what kind of business you are now, and what kind of business you need to be.

Ultimately, the fact is this: financial advisors succeeding in this market continue to move forward.

Most of all, the best financial practices aren’t waiting anything out or putting things on hold. Instead, they’re making consistent moves and adjustments that will put their practices in a stronger place throughout the year.

If you aren’t doing these 10 things for your practice, the best time to start is now. Impact Partnership can help with them all, so give us a call if you need guidance or ideas!


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Stephen Odom, CEO of The Impact Partnership


Chief Executive Officer

Stephen started in the insurance marketing business in 2001 as a new business consultant. In 2002 he was promoted to Director of Sales and built a 200 million book of business from scratch. By 2005, he was one of the top wholesalers in the country, working with some of the top financial advisors and insurance agents across the USA. In 2008, Stephen was promoted to Co-President of one of the largest IMOs in the country.

In 2011, Stephen continued his entrepreneurship path and co-founded The Impact Partnership, an INC 5000 company. Stephen is responsible for the strategic vision of Impact and is laser-focused on creating a culture of growth for both internal teammates and our amazing customers.

Stephen lives in Kennesaw, GA, with his wife of more than 20 years, Kendra. They are blessed with three beautiful children Katie, Tyler, Anna Brooke, and Laya, their German Shepherd and Luna, their BernieDoodle.