Top 4 New Year’s Resolutions for Financial Advisors

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Make 2019 your strongest lead-generating year yet! Set goals and stick to the resolutions that are key for financial advisors to grow their practices.

The time has come – one year closes and another begins! 365 new opportunities are waiting for you to take advantage of them. Many people concentrate on personal objectives when a new year begins: eat better, exercise more, read more books, etc.

Today, we’ll focus on the top 4 resolutions that will help you achieve your goals for growing your practice in the new year:

1. Evaluate your practice. 

When it comes to looking at your practice, dig deep. Start with your brand – when was the last time it was refreshed? Does it still represent the advisor and practice you’ve grown to become?

The beginning of the year is the best time to focus on your brand because it will set the foundation for the rest of the year. Work with your marketing partner to not only help you evaluate your brand but also to help organize the right brand relaunch for your client and prospect database, so they understand and support the change to your practice.

Another question is, did you target the right prospects? What are the common characteristics of your best clients and how do you find more people just like them? The days of mass marketing to pre-retirees are over.

Be specific about who you WANT to work with and focus your marketing efforts on where they are and what they like to do. Are they digital-savvy? Amp up your digital marketing this year by starting a blog or becoming more active on your social media pages. These efforts will keep your brand in front of prospects and open the doors to deeper communication.

By taking time to evaluate your practice in the past year, you’ll have a better picture of the path you can take in 2019.

2. Set Goals.

How many times have you set a big goal for yourself at the beginning of the year, then after about a week that determination fizzles out? It happens all the time – but you don’t have to experience the same results with your practice’s goals. Remember, goals should be S.M.A.R.T. (Specific, Measurable, Achievable, Realistic and Timely).

Specific: How many NEW clients do you want to help this year? How much premium do you want to add to your book of business? Have hard numbers to reach to keep you focused.

Measurable: You should be tracking your goals and measuring the results of the efforts you’re making to reach these goals. Make sure your goals can be measured to know the accomplishments you and your team are making.

Achievable: This seems obvious for any goal-setting, but sit back and ask yourself, “Is this something my team and I can achieve together or is this out of our grasp without the appropriate resources to help us?”

Realistic: Focus on what’s actionable right now. You should only set goals you know are realistic for your timeline, team, and personal life. Every practice would love to double their business in one year, but is that realistic if you also want to spend more time with your family and go home at a reasonable hour every evening?

Timely: Don’t just focus on having these goals completed by December 31. Create shorter timelines to achieve steps toward your goal. Try focusing on having one step completed by the end of every quarter. Achieving goals for your practice is a team effort; once you’ve decided on new year goals, post them in a common area for the team to see as a reminder. Do a “temp check” once per quarter to see if you’re on track.

3. Create a marketing calendar.

Mapping out your marketing activities will help keep you accountable. If mapping out the whole year sounds like a daunting task, start with one quarter at a time.

If you haven’t already done so, set up a call with your marketing partner to plan your activities for next year (FYI: we recommend starting your Q1 planning at the beginning of Q4). Once you both sign off on it, print it out and post it for all of your employees to see and stay on track. This will also help make sure your invitations and support materials are completed on time, so you don’t keep pushing back your events because you’re not ready.

Benjamin Franklin once said, “By failing to prepare, you are preparing to fail,” and a marketing calendar can ensure you’re prepared.

4. Take Risks. 

If you’re comfortable in your practice, how are you growing? You took a risk to start your business years ago – continue to take risks to grow. The perfect risks to take are in your marketing efforts.

Have you thought about taking your practice over the airwaves but were scared you wouldn’t be the best radio host? Don’t let fear keep you from growing. Partner with media experts who can help you advance to the next level and make you feel comfortable either behind the mic or in front of the camera. Have you been tossing around the idea of implementing digital marketing or automating processes but don’t know where to start? Seek out specialists to coach you through the ins and outs of the digital space and help take some of the day-to-day tasks off your plate.

Even if you’re ahead of the game and have already thought about your goals, review them with your marketing partner to help keep you accountable to achieve more in 2019.

And Happy New Year from all of us at Impact Partnership!

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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.