In 1985, I conducted what I believe to be the first study in the financial services industry to see what advisors do with their time. During the course of this study, I made a surprising discovery:
Advisors were worth at least $1,000 an hour when they were meeting and talking to qualified clients and prospects.
I’ve conducted that study again and again. Today, advisors are worth $1,500 per hour. Read that again. $1,500 an hour! That’s how much you’re worth.
But is it how much you’re making?
If the answer is “NO” or “I don’t know”, then it’s time to act. The first step, of course, is to build a proper team. The second step is to maximize the number of sales contacts you make during the time available for work. To do that, you need a “Model Day”. Check out this webinar with our Sr. VP of Client Success, Matt Hicken to learn more.
The third step is to increase your own productivity.
While I’ve conclusively proved that an advisor is worth at least $1,500 an hour when meeting and talking with clients, there are always other tasks that need your attention. Emails must be answered. Tasks need to be dictated to your staff. Records need to be kept.
These tasks can be a rabbit hole and take away from the activities that make you worth $1,500 an hour. The solution? Do them more efficiently. Do them more quickly. Do them better.