Hello. My name is Deborah Fox. I have been a practicing financial planner for 25 years and have personally coached many financial advisors all over the country. I am best known in our industry as the founder of Fox College Funding, a specialty planning company. Just this year, I have introduced a new training program for financial advisors called Fox Financial Planning Network, a complete financial planning delivery system. If you want to learn more about me or my programs, just put “Deborah Fox financial planning” in a Google search or stop by booth #651 – “The Industry Thought Leaders’ booth”.
My message today is “Systematize, Document and Delegate.” Over the years, I have come to realize advisors who master and implement these three things are likely to not only have built a best-in-class practice, but also be in a position where they truly enjoy their work and can live a balanced life. Do you feel like you work too many hours and your practice is in disarray? Michael Gerber, author of The E-Myth points out that when most people go into business for themselves, they don’t run a business, they merely create a 12 hour-a-day, 6 or 7 day-a-week job for themselves.
What’s the solution? Every client service you deliver should be systematized, documented and then assigned to a person who is responsible for delivering that service. Whether it’s a back office task or something that is done in front of the client, there should be an order and a system for everything you do. By designing a workflow for your practice and then delegating tasks that you personally shouldn’t be spending time on, you can stop working a job and start living the life of a true entrepreneur by having time for the things that are important to you in your life.
Systematizing and documenting your practice can also make possible for you to offer a higher level of service to your clients and can prevent you from being left in a debilitating position if you lose a key member of your team. Ever since I documented my entire practice, I have been able to focus on the higher level activities of my practice that I am both good at and enjoy doing. This is just part of what I teach through the Fox Financial Planning Network where I literally hand over to you all the documented mechanics of my complete financial planning process.
If you'd like to learn more, visit my website, www.advisortrainingcenter.com.