Top Financial Advisors Are Thriving, Not Just Surviving, in Uncertain Times

Top financial advisors are having their best year in 2020. They are growing at their strongest rates in over a decade.

The year 2020 will be remembered for many generations to come because it brought massive changes to the world. The aftershocks of the COVID pandemic will be both permanent and temporary and are still not fully known.

The first quarter of the year started off with equity markets experiencing all-time, record highs. Then, with no warning, a pandemic brought an unprecedented waterfall bear market. Financial advisors were challenged with both managing the risk and emotion that the severe market volatility brought and the fact that there was a major change to “business as usual”. From meeting with clients, holding events, and the almost overnight ending of a traditional 9 to 5, in-office schedule, many client servicing strategies and office procedures had to be reinvented. Those advisors who offered value and a meaningful client-centric experience not only survived but grew and thrived during these uncertain times. Elite practices continued to deliver superior service to their clients. The primary difference was the delivery method changed from mainly in-person to an exclusively online experience.

This is the time when elite advisors separated themselves from all other advisors. Value, narrative and messaging took center stage. Mastering the foundational activities was no longer a “to-do” item, but a game changer. Advisors with a client-centric office know that this is a critical time to provide their clients with intelligent leadership and guidance. 16-year Academy of Preferred Financial Advisors member, Chris Doughty, CFP®, a Barron’s and Forbes list best-in-state advisor shared that, “When you have a practice that puts clients first, adds value and is proactive, it is easy to call clients during unsettling times. Many of my clients are asking me if I am okay. I love my clients like family and honor my responsibility to them. This month, once again, I proactively provided extreme value and helped people. We are highly skilled advisors that are also in the people business. We understand our clients. We are listening to their feelings. The proactive strategies, ideas and positive messages from the Academy help me deliver great value. This is a time for advisors to shine.”

Jerry Lynch CFP® a 12-year Academy of Preferred Financial Advisors member adds, “As an Academy member my ability to proactively add value in tax planning and wealth transfer has always helped me stand out. Especially in 2020 with all the change. This has been another exceptional year for my firm to help clients and grow.”

2020’s changes have forced firms to either evolve and pivot or fall flat and become stagnant. For over 20 years, the Academy of Preferred Financial Advisors has worked closely with some of the best advisors in the country and they are in-the-trenches, beating this crisis. Including offering comprehensive wealth management services, we found the top five commonalities of the most elite firms that allowed them to thrive are:

  • adding value beyond investments
  • being entirely client centered
  • supported by team members with identified roles
  • having an established referral culture
  •  supported by a full and complete marketing calendar of meaningful activity

The Academy of Preferred Financial Advisors develops and provides high level support and guidance on systems and strategies to over 300 exceptional firms. Throughout 2020, Academy of Preferred Financial Advisors members received all of the tools necessary to pivot and evolve through the pandemic. They are coming into 2021 stronger than ever.

At the Academy of Preferred Financial Advisors, we know how important the year-end is for businesses. The positive momentum you generate now will greatly dictate the level of success you experience in 2021. Are you ready to become an elite advisor and take your practice to the next level? The Academy of Preferred Financial Advisors is offering a one-time, complimentary webinar entitled Proven Strategies That Elite Advisors are Using to Thrive, Not Just Survive in Uncertain Times. Reserve your place to join us on November 17, 2020 at 9:00am Pacific for this special presentation.

If you want to add extreme value and make 2021 your best year, then this webinar is for you!

Related: Consistent and Meaningful Communication: A Superpower for Top Advisors