The Magellan Network Podcast

It's been a very interesting week for me to watch how both investors and advisors react to the market. For the most part, it seems to me that advisors are more concerned about the current conditions instead of their client. This got me thinking about the "real" threats to an advisors business. I believe that these threats are mostly universal. In other words, they reach all models of our business,...

I am sure most of you are very happy that the week has come to an end. This is not the start of the year that Im sure you envisioned. What that said, let's also remember these are the conditions where we earn our pay and make the difference between having an actual human advisor vs. a robo-advisor. In my career as a coach, I have been around working with my clients during all types of market condi...

Welcome to my latest PracticePower Podcast episode. Now that 2015 is in our rearview mirror, I want to share with you some strategies that based on my experience that are an absolute must in order to great start to the new year. I want you to think of this as a "virtual coaching session" with me. What I am sharing with you is my "January Checklist" for my personal coaching clients and Platinum Par...

I hope you are enjoying your holidays. As we get closer to the start of 2016, let’s have discussion on what I have observed during my nearly 25 years of working exclusively with advisors. Consider this episode a guide on sabotage. Just like there is recipe for success, there is a recipe for failure. Sometimes it’s more important to know what NOT to do as well as what action to take. Get out your n...

The holidays are about a week away and many of us are putting a bow and wrapping up 2015. In this episode, I am going to share with some important tips and strategies to improve your 2016 business planning process. If you are using my 8-part business planning system on PracticePower or just grabbing a legal pad to jot down some ideas, please take the time to review the strategies contained in this...

I hope that you had a wonderful and productive week. As the holidays fast approach, lets complete our benchmarks in this episode. This process will help you identify the gaps in your behaviors and approach that you will want to address in your 2016 business plan. As a reminder here are the rules. I want you to grade yourself on each one of these 13. You might want to get a pen a paper to take some...

I can't believe it's December already. Since this is the time of year that we start to look forward to the upcoming year, this is a great time to take a look back at our performance in 2015. What I want to do in this episode is share with you an abbreviated review and benchmarking process that I use with all my clients. I have found these "baker dozen" will predict your outcomes for the year. Rule...

As you are aware my podcast has been absent for several weeks. In that time, I have been debating on what track I want to take with not only this podcast but my business in general. Just a few days ago, I completed my 16th annual business planning event and mastermind. Nothing make me feel more satisfied when a participant comes up to me and tells me that the decisions they made will change their...

In this episode I want to discuss with you the real opportunity that sits in-front of you, if you are willing to focus and take action. I have always found that a great market hides many flaws and faults with our industry. Now that we have entered a new phase, the real and better opportunity now awaits you. Listen to this episode as I explain what I mean and how you can take action.

Greetings from San Francisco. It’s been an interesting few days to say the least. I have been speaking with several of my clients and I wanted to give you my perspective on how people are reacting to all the “market fun”. I also want to share a very important small trend that I want you to be aware of.

It's been an interesting few days in our world. The question that I have for you is; What's your plan? It's critically important that you maintain your success rituals and focus on executing your Daily Game Plan. The key word is to stay proactive.

I have found that assumptions are one of the most expensive thoughts that an advisor can have. Why? Because it gives an advisor justification not to take a particular action. You assume that you have all your clients investable assets. Why ask? Assume your friend at the chamber is happy with their advisor. Why find out? I believe assumptions cost the typical advisor several million dollars over a...

This is a question all advisors need to have an answer for. How many clients can you and your team serve? How many review slots do you have/need each year? How many touch-base calls must happen each year? Let me go over this important strategy in this podcast episode.

During my coaching work, I often run across this “all or nothing” rule that people have. It usually pops-up when we are discussing their ‘Morning Success Ritual”. I have always had a “good, better, best” approach to things. It’s critically important to maintain your success and momentum thru consistently. Having an “all or nothing” approach is a huge threat to that. Listen to this episode as I exp...

As I get ready for my last tactical week of August, I am reminded about are very simple truth/universal law. When it comes to increasing the revenue of your business, there are only two ways. First, you can add more clients to your business. Second, you can get your current clients to do more business with you. That's it! I believe this industry conditions many advisors to focus on #1. You need to...

In the past few weeks we have seen some market volatility. For some of you this maybe the cause for concern. For me, I have always reminded my clients that whenever the markets are in the news, it's the perfect time to ramp-up our marketing and business development efforts. let me explain why in this podcast episode.

Recently, I was speaking with a client, who really is on the cutting edge of what an advisor is going to need to look like to add value and not become a commodity. The challenge sometime is people will tend to stereotype you with the past identities of advisors. Unless you passionately communicate you value preposition to your market, you might say the right words but yet fail to deliver the messa...

I have always believed that all advisors are in the relationship business first and foremost. A client’s goodwill is the most valuable asset that you have. Doing financial planning and investing their assets are what’s expected, the difference maker is showing them that you care about them. This simple strategy has proven to be more powerful in relationship building then executing review after rev...

My short answer is forever. In my experiences, I have found way too many advisors who give-up on prospects too soon. This is usually caused by the advisors emotions getting in the way. They feel rejected and they justify their lack of follow-up irrationally. Let's discuss this issue in this episode.

I hope you are enjoying your weekend. In this episode, I want to share with you some random coaching strategies that will help you make new distinctions about success and making changes.

Now that we are into the month of August, let’s discuss what not to do. Many advisors get into the mindset of summer. In other words, it’s OK to come into the office, do some work, and just “hang out”. This is bad on multiple fronts. One of which is the real possibility of creating some bad habits and negative anchors in your office. In this episode, I will discuss how not to let this happen to yo...

One belief that I have since I started my coaching career is that advisors need to view themselves as a type of athlete and develop the rituals, behaviors, and standards of one. Success in our business take most of the same attributes as being a world class athlete. In this episode I want to share with you several key distinctions in this area.

During a call with a client, I congratulated him on exceeding his goal on the number of reviews that we wanted to hold in July. When I took a look at how many introduction conversations he had during the month of July it was abysmal, less than 10% of the reviews included an introduction conversation. That’s a huge miss, and I told him that. The question that I asked him was basically how did you f...

A few months ago I released an enhanced Monthly Game Plan Builder (MGPB). While working with my personal clients to execute this into their practice models, I started to notice an interesting distinction. Those clients who committed to utilizing the MGPB have a much easier time in having an excellent Daily Game Plan created and actually executing it. It's challenging for most advisors to bridge th...

I hope you are enjoying your weekend. Now that July is in the books, lets turn our attention to the month of August. In my career, I have found this month to be a bit "bi-polar". On one hand, you definitely want to grab some downtime before Labor Day. On the other hand, it's critical that we have momentum going into the fall. This means that you want to make this month a heavy contact month to set...