News You Can Use
This issue's article is by Lisa Gray of graymatter STRATEGIES LLC, a financial journalism and marketing consulting firm based in Memphis, TN.  

What Is 'Client-centric'...Really? By Lisa Gray   One of the buzz words (or phrases, actually) going around the industry these days is 'client-centric.' It's a phrase that makes sense in today's marketplace. Clients want to know that the advisor handling their investments is more interested in their well being than filling his or her own pocket. Many firms and advisors have both gone to great lengths to reflect this client-centric vision. The growing adoption of the consultative process that accompanies the implementation of separately managed accounts gives credence to the effort to abandon the product-pusher mentality.   But there's a critical gap here. No matter how well the client-centric philosophy is practiced by an advisor or a firm, the marketing collateral produced by most practitioners and firms continues to focus in large part on the firm. This paradox continues to amaze and is diametrically opposed to the true function of marketing (that of building relationships). Case in point: The following is copy is from the brochure of a revered financial institution, but it could be from the brochure of just about any reputable firm in the country-most financial institution brochures say practically the same thing in almost the same way. "Each of our services is highly specialized, demanding in-depth knowledge and expertise. And XYZ's professionals are leading experts in their various disciplines...We often provide investment management and financial counsel to multiple generations of the same family and to our institutional clients over many decades. Even today, in our highly mobile society, XYZ employees tend to stay with the company, providing continuity of service and building lasting relationships with our clients."   So what's wrong with that? Nothing, technically. It sounds good. It attempts to address the deeper concerns of the client. But in the end, it's still all about the firm. And it sounds just like every other firm in the industry. How many times do you see the words, 'our,' 'we,' and 'XYZ?' Our services; our professionals' expert status; our employees; our clients. How much more effective would this brochure be if it truly focused on the client rather than the firm? Let's take a look at the same copy, revised in a truly client-centric manner: "Clients today demand professional investment management and financial counsel backed by in-depth knowledge and expertise. You look for guidance in matters that directly affect your wealth-not everyone else's. You need such counsel not only for yourself, but also for your children and grandchildren. Confidence that your wealth will be dispersed and used for the purposes you intend is essential. XYZ provides the in-depth knowledge and expertise you require. Our credentialed professionals specialize in building lasting relationships based on continuity of service."   The reworded copy directly addresses the needs of the client and fosters confidence through the expertise of the firm and its professionals. Continuity of message-client centric service backed by client centric collateral-goes a long way in building confidence and attracting premium clients for your business. In a sea of fierce competition, it's a subtle, but very important difference.   Lisa Gray, CIMC is president/CEO of graymatter STRATEGIES LLC, a financial journalism and marketing consulting firm based in Memphis, TN. She has 15 years' experience in wealth management and is the author of "The New Family Office: Innovative Strategies for Consulting to the Affluent," www.iibooks.com. A Few of the Benefits of "Going Independent": ·         Payouts on all your business, including fee based accounts of 90% plus. ·         The opportunity for you, not someone at the home office, to control your bottom line and the profitability of your practice. ·         The opportunity to build related businesses such as insurance, qualified plans, or trust companies, and keep those revenues. ·         The opportunity to eliminate your clients' perceptions of conflicts of interest with research departments and corporate finance groups - TRUE OBJECTIVITY. ·         The opportunity to charge and keep substantial fee income for planning, analysis and other services to your clients. ·         The availability of technology that is as good or better than anything you have now. The list goes on... If you ARE ready or know someone else who might be, please visit www.goingindependent.com (go to our Opportunities section and click on Hotjobs) or contact Mitch Vigeveno directly at 727-725-8876. This Month's Registered Representative Opportunity: This firm is a privately-held, full service independent broker/dealer and SEC Registered Investment Advisor which has been providing representatives with backoffice support since 1986.  Their philosophy is simple, provide the highest level of service attainable through personal relationships.  They offer dual clearing through Pershing and National Financial Services (NFS).  Other value added benefits which they offer include: Fully Automated Transition Services, Consolidated Statements, Competitive Payouts, Competitive E&O Coverage and Premiums and RIA Flexibility. A rep would want to join this B/D if they are looking for: Small firm with personalized, family touch Value based organization Commitment to remaining small and privately-held Flexiblity

Here's some additional information from Turning Point, Inc...

RECENT PLACEMENTS:
Congratulations to some of our recent placements.  John M has successfully transitioned to Brookstreet Securities and Andy D is now with Securities America.  We wish them both continued success with their new firms!

Quote of the day:
"Know how to listen, and you will profit even from those who talk badly."
Plutarch (46 AD - 120 AD)