FROM THE BLOG

In the independent broker dealer space, including independent financial advisors, so much of what drives us is gaining new business. I have written before about making sure that you are trying to win the “right” business – I still believe this remains the most important piece of growing your business and will never go out of style.

But, there are times when we know someone is a great fit for us and we just don’t win. Whether it’s a client that you know you can help to achieve their dreams or an independent advisor who you know will start loving life again if they joined your firm, it is in these cases that it hurts the most. You want to brood over it, get mad, pretend that it doesn’t really matter….but yet, in your gut, it just DOES.

I came across an article on Inc.com that I thought addressed perfectly how we try to approach these situations. It gave me some new ideas and also reinforced some of how I try to think.

To summarize:

1.  Keep the door open
2.  Check back in two months
3.  Never completely lose touch
4.  Track and analyze your losses
5.  Move on

Now again, if you are wanting to “win” just to win, you can disregard the above. These are only for cases where you know the client or advisor is a great fit and you want to make sure they know that.

For more detail on the 5 steps, click here.

Until next week,

Posted by Tarah Carlow Senior Vice President, Marketing & Advisor Loyalty