No one will ever mistake me for someone who is on the cutting edge…of anything. My wife can attest to the fact that I have never set a trend in fashion, nor was I the first to abandon my Sports Walkman for a lighter MP3 player.
If the above statement did not already confirm it, I am NOT a millennial. I am solidly entrenched in the Boomer category. As such, after reading the title of this blog, you may wonder if I am going to talk about Jane, the maid from the Jetsons, or some form of new automated technology?
Well… surprise. It is the latter. As a stockbroker/investment advisor for 32 years, I witnessed monumental changes in how advisors acquire and service their client base.
The days of the postcard sized new customer form and a single quote terminal for 20 advisors have given way to the highly regulated and technologically advanced availability of 24/7 research and trading platforms. In my career I went from walking buy and sell orders to a trading desk and clipping news stories from a telex machine, to being part of a small group that founded Canada’s first non-call robo advisor.
Despite the many changes I’ve seen, several truths remained stable throughout my career: every advisor and advisory firm vow that their service is the best, that they care greatly about each client, that their method of investment is of the highest quality, and that they have the evidence to back up those claims.
I am not here to argue the sincerity of those claims; I am sure that everyone believes that they truly are the best at what they do…otherwise why do it? The industry is chock full of professional, smart and ethical ladies and gentlemen who live to fulfill these promises.
The question I have considered and am ready to answer is, ‘What role will technology play, or is currently playing, in how people engage with advisors?’ Will the promise of excellent service, caring advice and well thought out investment plans still be something that people will covet and more importantly, be willing to pay for?
Even now, the term robo advisor is somewhat passé; rather than being unusual and rare, it has become commonplace in the investment vernacular. Soon it will be a utility that all investment firms will adopt.
What I want to discuss is how advisors can embrace this movement. What if, rather than let it cannibalize your client base and limit the number of younger investors you can attract, you add it to your arsenal.
In my soon to be released eBook, A ROBOT ATE MY CLIENT LIST, I will cover the following topics:
-How do I compete with a robot?
-Can a robot care about clients like I do?
-Can I make a robot my business partner?
-If so, who gets the desk by the window?
Specifically, and most importantly, A ROBOT ATE MY CLIENT LIST will provide the initial steps of my plan for you to embrace technology, to build your AUA, and to thereby tackle an untouched $200 billion industry. You will learn these lessons in more detail in my Go1 for Closers™ program.
If stepping away from your competition and solidifying your business for the future sounds compelling, please email me your contact information at email@example.com and I will forward you a free copy of A ROBOT ATE MY CLIENT LIST when it is available.
In addition to the release of my eBook, please be on the lookout for my first product launch. It is a one hour, one on one meeting that I call Go1- Coffee With A Closer™.
Please follow me on my soon to be launched website at www.groupofone.ca for product and service launches.
*Please note- I am not an investment advisor. I have retired. I do not give investment advice in any way.
My concepts, ideas and processes revolve around building a sales business. Specifically, prospecting, building sales pipelines and closing your prospects. I teach techniques I have used to become a top 1% sales person in my organization, and the proven practices of experts and thought leaders in various areas of business.