046: The One Change You Can Make to Your Financial Planning Practice to Really Put Clients First - a podcast by Snap Projections
from 2019-11-13T05:00
Everyone says they put their clients’ best interests first, but what’s the best way to set yourself up for success in this regard? By introducing portfolio management companies into his business model, today’s guest has structured a financial advisory practice that allows him to focus on his clients first.
Peter Cishecki started Everything Financial Group in 1996 after working for many years at one of Canada’s leading insurance companies. He has created an all-in-one financial experience for his clients where he built trusted, long-term relationships by providing complete financial strategies and solutions for financial peace of mind.
Listen to the episode to hear about how Peter came to work with portfolio management companies on a referral basis and how it’s affected his business.
What You’ll Learn in This Episode:
- Why more advisors don’t work with portfolio management companies (9:30)
- Why your clients wish you worked with a portfolio management company (14:35)
- How Peter structures his fees – and how he provides enough value to earn them (18:55)
- How Peter’s work culture transformed when he began working with portfolio management companies (27:30)
- The biggest challenges Peter has faced in his career (30:40)
- Three misunderstandings about wealth management (33:50)
- How Peter gets in front of prospective clients (35:20)
Links and Resources:
Quotes by Peter Cishecki:
“When I can get people to change their outlook on life and start to enjoy their money while they’re young and healthy, that’s huge satisfaction.”
“If you’re going to collect a fee, do something for the person.”
“Truly look yourself in the mirror every day and say ‘What am I gonna do today to make a client’s life better?’”
In late 2010, Peter noticed he was already running his practice like a portfolio management company – offering six different model portfolios and spending all his time on administrative work. He realized that by working with an actual portfolio management company, he could let other professionals handle that work while focusing his efforts on what he really wanted to do: building financial plans.
Since making the switch, his practice has grown by at least 500%, and his entire office culture has changed into less of a team and more of a family.
Below, we’re sharing three key ideas from this episode:
- Why your clients wish you worked with a portfolio management company
- Growing Your Financial Advisory Practice | Insights for Financial Advisors, Planners and Investment Managers
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Website of Snap Projections