BUILD YOUR BUSINESS FOR THE FUTURE

Three ingredients for business growth

Your clients want your time. Your business demands it. You want to grow. What can you do?

BlackRock can help

We’ve consulted with thousands of advisors to bring you valuable insights. We believe the key to organic growth is finding more time for current and prospective clients. Unlocking this time requires you to:

Streamline your investment approach
A defined, defendable, repeatable investment process can help you meet client needs and free up time.
Improve business efficiency
Drive growth by thoughtfully allocating time among your clients as well as maximizing your team’s potential through strong leadership and structure.
Instill psychological safety
Craft a story to capture the essence of why you do what you do every day. Communicate clearly to build client loyalty and acquire new clients.
1+2+3=Organic growth
Liz Koehler, CFA, head of Advisor Insights, outlines the formula we’ve seen work time and again to boost growth for advisors.
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Koehler Intro
Considering inorganic growth too?
Explore M&A insights gleaned from our partnership with Advisor Growth Strategies and learn how our three steps to organic growth can boost value before and smooth integration after a transaction.
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Considering inorganic growth too?

Streamline your
investment approach

 

Be consistent to recapture time

On average, advisors spend ~40% of their time on investments and administrative tasks.1 Advisors who create bespoke portfolios likely spend more time while those who embrace models, whether their own or third-party, likely spend less. Consider the tradeoffs of different approaches to determine what is right for you and your clients:
Time
Leveraging third-party models maximizes the time you have to focus on and increase the value of your business.
Control
Customizing individual client portfolios allows you to retain more control over exposures and capital gains.
Oversight
Picking individual investments requires more due diligence compared to ensuring suitability and appropriateness of third-party models.
It’s all in the advice
Tim Palilonis, CFA, from our Portfolio Solutions team discusses the importance of a scalable, repeatable, defendable process whether you build your own models or outsource. Portfolio Solutions consults with advisors to help define investment goals, diagnose risks and design portfolios.
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Palilonis Portfolio
Choice Arrows
Explore model portfolios
Streamline your investment process with a model as your base. Then, customize it with your unique view.
Customize Customize
Portfolio Pie
Evolve how you blend
Turn ‘active vs passive’ into ‘index, factors and alpha’ to seek better outcomes for your clients.
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Seek Magnifier
Analyze your portfolio
Examine your portfolio across various dimensions and see the potential impact of adjusting allocations.
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Improve business efficiency

Set realistic service expectations
No one can be all things to all clients. Establish a segmented service model to provide aligned expectations that you can consistently deliver against.
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Set realistic service expectations
Top clients, consistent services
Jim Renitsky, senior partner of Affinity Partners (founded by Danielle Papandrea), shares how segmented service can boost growth.
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Renitsky Segmentation

Team up

Successful teams start with strong leadership. We look to leaders for purpose, vision, roles and responsibilities as well as accountability. These elements are critical to empower your team to operate effectively and efficiently.
Maintenance Tool
Coach your team
Conduct consistent and effective one-on-ones with your team to foster emotional ownership.
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People
Hire the best team members
Identify better hires through interviews that incorporate values, cultural fit, skill sets and expertise.
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Instill psychological safety

 

Tell your story
Advisors often default to telling clients “what I do” or “what I offer.” But sharing what to expect from the relationship is often more impactful. Stories can effectively bring abstract concepts like attention or empathy to life and highlight how (and why) you earn your fee.
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Tell your story
The power of a story
Jim Renitsky from Affinity Partners illustrates how an advisor’s core values can be brought to life through a sharable story.
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Renitsky Story
Engage your clients – virtually
Stay connected with your clients in this more virtual world and take advantage of the lowered geographical barriers as you seek new clients.
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Prospect authentically

As you seek new clients, focus on those who are most like the best clients you currently have. Most client acquisition strategies are common sense, but not common practice. Consider adding any of these prospecting ideas to your current plan, applying them with enough consistency to pay dividends.
Welcome newcomers
Use online search engines to identify new homeowners in the area who may be in need of your guidance.
Go social
Join a local social group or leverage online social networks like LinkedIn.
Leverage centers of influence
Partner with estate attorneys or CPAs who work with individuals similar to your clients. Ask for a virtual introduction.
Give a talk on investing
Find local opportunities to showcase your investing acumen.
Prep your spouse
Ensure your spouse has the right words to explain what and why you do what you do to amplify your networking impact.
Host “bring a friend” lunches
Have your clients bring their friends to informative seminars. Consider our client programs below.
Grow through behavioral coaching
Grow through behavioral coaching
Demonstrate your ability to help clients confidently navigate the ups and downs of the markets and their emotions.
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Connect with women
Connect with women
Help current and future female clients define what wealth means for them and build a solid foundation.
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Incorporate Social Security
Incorporate Social Security
Increase referrals by helping retiring clients maximize benefits and gain confidence.
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