Investment Advisor Articles > Blog | Maximizer CRM

4 Sure-fire Ways to Grow Your Advisory Business

BY Jan Carter - Head of Product & Development
April 17, 2018

When it comes to strategies for acquiring new clients, expensive marketing and advertising might spring to mind. But before you start frantically plastering your name on the side of every bus in your neighbourhood, maybe step back and consider alternatives. Here are some sure-fire strategies bound to boost your bottom line without breaking your bank.

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Buying & Selling Profitably: Determining the True Value of an Advisors Book

BY Patrick Sutherland, Director of Sales (Americas)
April 3, 2018

Whether you’re looking to sell up – or want to expand with an acquisition – knowing you’re getting the right price – and value – from a transaction is critical. A good transaction is more than buying a book of business and adding on a multiplier that satisfies both parties. You need to know the book’s value and whether it fits in with your strategy, while during handover, easing the transition for advisors and clients alike.

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How you can Eliminate the Fear, Uncertainty and Doubt in your practice with CRM

BY Jan Carter - Head of Product & Development
March 23, 2018

Succession plans and business continuity are often treated separately. But in practice, they’re deeply connected. Nowhere is this more true than in Financial Services.

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4 Crucial Strategies When Choosing a Financial Services CRM

BY Patrick Sutherland, Director of Sales (Americas)
March 14, 2018

Whether you're a credit union, broker dealer or bank – your products pass through many hands, entailing numerous stakeholders and reams of red tape. Financial services top the charts when it comes to industry fragmentation and distribution channel complexity; while price wars lead to razor-thin profit margins. Faced with stiff competition in such a turbid environment, businesses turn to FinTech for an edge.

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Surfing the Technological Tsunami: How your practice can thrive in the digital economy

BY Niall Auburn, Marketing Specialist - CRM Wealth Manager
January 5, 2018

Surfing the Technological Tsunami: How your practice can thrive in the digital economy

The Financial Advice industry faces a “technology tsunami” bound to bring sweeping change, according to Market Logics CEO George Hartman in a recent interview. Robo-advisors, video-conferencing, cloud storage and CRM are all reshaping the way advisors work. Those positioned to “ride the tide” will thrive in a digital economy, Hartman added, while those who don’t may find themselves sinking in race-to-the-bottom price competition.

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Understanding Investor Bias to Better Serve your Clients

BY John Easton, Director of Wealth Management
November 22, 2017

Understanding_Investor_Bias

While many individuals argue they are rational, independent thinkers, the reality is we're all human and subject to biases, shaped by our experiences and emotions. And nowhere is this more evident than in investing. 

According to a recent report from BMO Wealth Management, "Generational Perspectives", people of the same generation demonstrate similar biases when it comes to handling their money. 

As an advisor, part of your job is helping clients put "head over heart" when it comes to building a diversified portfolio, protected against risk. By understanding their common mistakes, you can better coach clients on how to reach their long-term goals. 

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Financial Education & Millennials – Laying the foundations for potential clients

BY Niall Auburn, Marketing Specialist - CRM Wealth Manager
September 27, 2017

Millennials are a trending topic for Financial Advisors – for good reason. They are slated to become the biggest demographic in history and hold the keys to tomorrow’s wealth. Yet while millennials are set to succeed in the workforce, with the highest levels of educational attainment ever, a recent study published by the National Endowment of Financial Education and George Washington University found they lacked financial capability. Only eight percent of surveyed millennials showed high levels of financial knowledge, while just a quarter (24 percent) demonstrated a basic understanding of how to manage their money.

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Practical Applications of CRM During the Financial Advice Lifecycle

BY John Easton, Director of Wealth Management
August 16, 2017

Practical Applications of CRM During the Financial Advice Lifecycle

Most clients follow a fairly predictable life pattern, which informs the sort of financial advice & services you provide. They get an education, buy their first car and first home. They have children. They buy a bigger home and retire.

But your book of business is full of clients, and their spouses and children—all at different life stages. It's a logistical nightmare trying to keep track of everyone. Unless you acquire some technological assistance.  

That's why people buy a CRM like *ahem* Maximizer CRM for Financial Advisors. It automates a whole range of work processes, helping you meet your clients' changing needs. 

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Reasons why your support team needs their CRM User ID

BY John Easton, Director of Wealth Management
August 9, 2017

Reasons why your support team needs their CRM User ID

The success of your practice hinges largely on strong client relationships. And while advisors may deliver exceptional client care, the quality of your service also depends on your support teams. Advisors initiate client relationships. But support staff often facilitate, helping with record-keeping, ensuring compliance, and managing communications.  

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Advisor Technology: Why it’s Worth the Money

BY John Easton, Director of Wealth Management
July 12, 2017

Advisor Technology: Why it’s Worth the MoneyNot long ago, most advisors managed contacts with the rolodex. But computerization has revolutionized the industry. It continues to evolve rapidly today, with a new financial technology rolling off the production line almost every day. While it’s easy to see how all this change benefits investors, advisors stand to benefit too. Indeed, a recent study by Fidelity Investments shows that “eAdvisors” - those using twice as many technologies as their peers - have more high net worth clients and higher AUM.

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5 Strategies for Engaging Millennial Investors

BY John Easton, Director of Wealth Management
June 27, 2017

5 Strategies for Engaging Millennial InvestorsA radically diverse, globalized and digitally connected generation, millennials are set to take the stage. They already make up almost half the US workforce and will soon hit peak earning potential. Over the next 30 years, they’ll inherit 30 trillion dollars from their baby boomer parents.

The growing clout of the millennial investor represents a huge challenge for financial advisors and companies, at risk of serious disruption. Research shows millennial investors are conservative with their money, don’t trust financial institutions, and are turning by the millions to robo-advisors — now a 55 to 60 billion dollar industry. According to a 2014 report by UBS, just 14 percent of surveyed millennials said they would consult a financial advisor on a major decision, as opposed to 40 percent of non-millennials.

Maximizer CRM Wealth Manager Gets a New Name

BY John Easton, Director of Wealth Management
June 20, 2017

Maximizer CRM for Financial AdvisorsBack in 2012, when Maximizer CRM Wealth Manager was first launched, the mission was simple—provide a client relationship management solution for wealth managers. We accomplished this remarkably quickly and with each release, developed our solution beyond the expectations of the market and our customers. As our product evolves, we thought the name should change too—which is why we’re introducing Maximizer CRM for Financial Advisors.

Top 4 Tips to Working Successfully with Retirement-Age Investors

BY John Easton, Director of Wealth Management
June 14, 2017

ips to Working with Retirement-Age Investors
2015 marked a demographic milestone: for the first time ever, there were more people in Canada aged 65-plus than there were under age 15. By 2036, one in four Canadians could be 65 or older.

Selling Up: Are You Prepared for Succession?

BY Niall Auburn, Marketing Specialist - CRM Wealth Manager
April 18, 2017

Selling Up: Are You Prepared for Succession?

You’ve worked hard and spent time, effort and money to build a successful financial advice business with an impressive book of clients. You might be considering selling - whether it’s to begin retirement, merge with another practice or to simply take on a new career path. Regardless of what route you’re going to take, you’ll want to make sure you’re getting the right price for your business. That’s where your plan for succession comes in.

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The Challenges Facing Advisors Today

BY John Easton, Director of Wealth Management
March 28, 2017

The wealth management landscape is constantly changing, and the year ahead looks no different for advisors. Technological advances, regulatory changes and shifting demographics are all set to feature heavily in the wealth management and financial advice industry in 2017. Our latest post takes an infographical look at what's set to pose challenges - or opportunities - in the months ahead. 

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How to Show Clients You’re on Their Side

BY John Easton, Director of Wealth Management
March 22, 2017

It’s safe to assume that most advisors act in the best interest of their clients. After all when your client benefits from your advice and planning, it’s a reflection on you and your business - you may even benefit in some referrals. However in the wake of a recent scandal involving one of Canada’s largest banks and allegations of aggressive and at times misleading sales tactics, trust in advisors is diminishing - which means it has never been more important to show your clients that you’re acting in their best interests.

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Entering the Era of the Robo-advisor

BY John Easton, Director of Wealth Management
February 7, 2017

Header - The robo-advisor: friend or foe?

The advent of the robo-advisor is shaking things up in wealth management. In the last three years alone there have been over a dozen robo-advisor websites created in Canada, with WealthSimple and JustWealth to name two. The rise of FinTech is undoubtedly going to change the way traditional advisors work, but rather than let new technology shake things up, it’s those who embrace these changes and turn them to their advantage who are going to prosper.

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Trends to look out for in 2017

BY Niall Auburn, Marketing Specialist - CRM Wealth Manager
January 31, 2017

We are well into the New Year and following a tumultuous 2016 it has never been more important for advisors to anticipate what might happen in the future. We don’t have a crystal ball to tell you exactly what’s coming up, but our latest blog does explore some of the upcoming trends for 2017 to help you better prepare for the year ahead.

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Revisiting CRM2: The practical steps you can take today

BY John Easton, Director of Wealth Management
January 24, 2017

 

2017 is now well and truly here and if you haven’t had to start providing clients with CRM2 compliant reports, the chances are you’ll have to do so in the near future as their annual fund performance approaches. With this in mind I thought it would be a good time to revisit CRM2 and the practical steps you can take now to ensure you’re not caught out in a few months’ time.

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Tax Season – The perfect sales opportunity?

BY John Easton, Director of Wealth Management
January 10, 2017

It’s getting close to that dreaded time of year… tax season… where folks across Canada start anticipating either the bonus of a quick cash injection or the threat of underpaid installments on the year’s income. While this is peak season for tax professionals, it could in fact represent a big sales opportunity for advisors.

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Why Millennial Investors are Worth the Effort

BY Niall Auburn, Marketing Specialist - CRM Wealth Manager
January 3, 2017

As one of the ‘millennial’ generation I’m all too aware of the financial challenges my peers and I face – the high cost of tuition, increasing house prices, and a competitive job market - all while planning ahead for the future and trying to enjoy new experiences in the here and now.  With all the competing priorities for our money we might not look like  perfect clients for advisors, but my latest blog post explains why it’s worth putting in the groundwork with us today to reap the benefits in the future.

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The Perfect CRM for Full Service Advisors

BY John Easton, Director of Wealth Management
November 29, 2016

maximizerwmcrm2017_available-now

Ever since the first edition of Maximizer CRM for Financial Advisors launched in 2012, we’ve been helping advisors, wealth managers and other financial services professionals streamline their processes, provide superior client engagement and remain compliant. With Maximizer CRM for Financial Advisors we’ve gone even further by delivering a CRM solution that brings you total practice management.

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Secrets of Successfully Onboarding a New Advisor

BY John Easton, Director of Wealth Management
November 23, 2016

secrets-of-successfully-onboarding-a-new-advisor

Welcoming another advisor to your team can be a solid long-term strategy to build your business. What are the key factors to consider? How can you ensure your onboarding program is successful? The answer to those questions may depend on who you hire.

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Taking your Advisor Business to the Next Level

BY John Easton, Director of Wealth Management
November 16, 2016

taking-your-advisor-business-to-the-next-level

 

It’s a Catch-22 that many small businesses are familiar with: in order to grow you need more staff, but in order to hire more staff you need the business. If you’re a financial advisor ready to take the next step, how do you get there? We talked to an advisor who took the leap of faith. Here’s what you can learn from his experience.

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Standing out from the crowd this RRSP season

BY John Easton, Director of Wealth Management
November 8, 2016

standing-out-in-the-crowd-in-rrsp-season

Introduced almost 60 years ago to encourage retirement savings by employees and self-employed people, RRSPs remain a reliable creator of wealth and the benefits accrue throughout a lifetime. With this year’s RRSP season about to hit its peak, now is a good time to look at how you can stand out from the crowd and go the extra mile to make sure your clients are getting the best out of their RRSP.

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Are You Ready for Millennials Inheritance?

BY Niall Auburn, Marketing Specialist - CRM Wealth Manager
October 27, 2016

are-you-ready-for-millennials-wealth-inheritance

 

How much of your client base is made up of millennials? The answer today may be very few. But with an estimated $30 trillion expected to pass down from baby boomers to their millennial children over the next 30 years, now could be the time to start connecting with this lucrative group that doesn't resemble your typical clients.

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Working efficiently as a mobile financial advisor

BY John Easton, Director of Wealth Management
October 10, 2016

working-efficiently-as-a-mobile-advisor

You’ve probably been hearing about mobile advisors lately, and may even be wondering if it’s the right direction for your business. Evolving from an office-based practice to a mobile one can benefit both you and your clients. When you use the tools and strategies that help you operate most effectively, it can also pay off by helping you expand your business.

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Ironing out the creases in a client relationship

BY John Easton, Director of Wealth Management
September 7, 2016

ironing out the creases in a relationship

Who among us can say they’ve never screwed up, even in a minor way? Maybe you’ve blanked out on a client’s name, been late for a meeting, or committed an administrative error. Like a high performance athlete, the important thing as a financial advisor is to pick yourself up after a stumble and continue the race. Here’s how you can overcome a bump in the road and build a stronger client relationship moving forward.

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Building Your Advisor Business with Referrals

BY John Easton, Director of Wealth Management
August 16, 2016

Build your advisor business with referrals_RVSD

Client referrals are the holy grail of marketing. And for financial advisors, they’re also one of the best ways to get in front of affluent investors. How do you make yourself referable? Follow our step-by-step plan.

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Landing your first big fish

BY John Easton, Director of Wealth Management
August 2, 2016

landing your first big fish

It’s a big day for every financial services professional: the day they land their biggest client. What strategies can you employ to ensure you clinch the deal?

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