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The Discovery Process. You know why it’s important. This is part of what makes working with financial advisors so easy for us. You folks get the importance of the discovery process.
My last blog dealt with helping you decide whether or not a Consultant would be a good move for you. In this blog, I want to talk about the importance of the discovery process.
IF you do choose to work with a consultant, make sure they conduct an in-depth discovery process. In the very same way it’s important for you to get to know your clients well your consultant should take the time to get to know you well.
Why? You know why but here goes:
One of my clients told me during the discovery process “I would like the firm to be able to operate without me having to be present all the time.” Seems like a fairly common goal, right? But what specifically does this mean to him? Does he want staff or does he want to outsource? Does he want to manage the staff or does he want an Administrator to do it? You get the gist. It’s important to peel the layers of the onion back and really understand what he wants his firm to look like so he can match this to his desired quality of life.
At The Strategic Implementer, we use an in-depth discovery questionnaire to get to know our clients. We’ve put the initial questions online to make it as easy as possible for you to complete it but you must complete it. After you complete the initial questionnaire, we always have additional questions and ask for additional clarification so we fully understand your goals. If you don’t want to go this very important step, you are not a good fit for our firm and we will refer you to someone who does not do this kind of deep dive.
You can schedule a complimentary call with us to see if we are a fit and answer any questions you may have. Again, we’re looking to work with a small group of elite advisors so we will be honest with you as to whether or not we are a good fit. We may also be able to give you a few ideas you can implement immediately.
Thanks for listening, Ginny
Ginny Hudgens, President and Owner of The Strategic Implementer, started out in the financial services industry in 1992 as a Vice President in the Investment Banking Group of J.C. Bradford & Co., a regional brokerage firm purchased by PaineWebber (now UBS) in 2000.
In August of 2000, she accepted a position with a financial advisor, his only employee at the time, as the "jack of all trades". At the time of her employment, the firm had approximately $7 million in assets under management. Later, as the COO of the firm, she and the advisor built the firm to over $115 million in assets under management. Ginny was responsible for managing all aspects of the firm, leading team strategy sessions and implementing the initiatives that drove the firm growth.
In March of 2006, she started The Strategic Implementer to share her skills with other advisors who are READY to take their business to the next level. Her background has put her in the unique position of knowing exactly what it takes to build a successful advisory firm.
Ginny has written for and been written about in such publications as The Journal of Financial Planning, Investment News and Bob Veres’ Inside Information. She is frequently asked to speak and has spoken to groups including several FPA chapters, Geneos Wealth Advisors in Denver and the 2013 FPA Business Solutions Conference.
Ginny is a 1988 graduate of the University of Louisville with a B.S. in Business Administration (concentration in Finance). She is married and her husband has two grown sons, one who served his country in Iraq for 15 months and his younger brother, who is now her associate in The Strategic Implementer. Ginny serves on the Board of Directors for the Louisiana State University CFP Program.