Top Business Building Ideas From DAC 2010

The Distinguished Advisor Conference 2010 concluded in Orlando this week, to rave reviews and hundreds of business building ideas for the over 130 advisors in attendance. Amongst the top strategic business building thoughts:

• A greater focus on family planning is important. Professionals need to be more disciplined with clients and their children by transitioning from individual to family planning.

• Advisors play a key role in financial literacy education. Educate your team and implement a "knowledge campaign.î Use plain language and be sure to communicate carefully with clients to ensure they really understand your message. Focus on family education: by helping parents, you are actually helping their children.

• Understand financial behavior. Start with your personal relationship with money. It will affect how you speak to your clients about theirs.

• Be conservative with your clientsí moneyóhelp them to manage debt and risk while building wealth. Teach your clients the difference between good and bad debt. These are difficult times.

• No individual is an island. Our children and grandchildren are the future. Lead by example: ask and learn more about the family. No matter what clients are going through, professionals need to let them know there is a light.

• Strategic financial planning includes electronic communications with the whole family. If you want to connect with younger generations, you must have electronic messaging strategies and use internet-based communications tools to grow your business.

• The economy is driven by confidenceóadvisors need to help instill confidence in clients in working with their money through intergenerational planning. . .seven generation thinking! Reassure them that with proper strategic planning and your counsel they will be okay.

• Encourage clients to take advantage of all tax credits related especially to pre-retirement planning, retirement planning, medical expenses and disability-related tax preferences. This is a topic often neglected by financial advisors. Remember that 20% of lifetime health care costs occur in the last year of lifeóare you ready to be in the business of "ego, dignity and respect?î

• Statistically, 8 out of 10 clients are looking for new advisorsónow is a good time to ask for referral business.

• You do important work.

ADDITIONAL EDUCATIONAL RESOURCE: For more information on next yearís DAC in Palm Springs, CA, November 13 to 16: see www.knowledgebureau.com/dac