My Advisor Community– What Are Other Advisory Firms Doing or Not Doing?
I am so lucky! I work with the most amazing clients. Now to be fair to myself, I did this intentionally. One of the best things about being my age (no need to mention a number…just assume I’m “mature”) is I am wise enough to know that working with clients who don’t share my values (family, quality of life, etc.) is going to be, at the very least, frustrating and at the very worst, damaging to my health. Unfortunately, I know this from past experience. This is why I don’t take on every prospective client who comes my way. It’s very liberating! I highly recommend it.
So where am I going with this? I believe the very best advisors want to share information with other advisors. Now, let me quantify that statement a bit. I’m not suggesting you share a proprietary process or give away the “secret sauce” but if they stumble onto a new technology for instance – and it can range from something small like scheduling technology to something larger, like changing portfolio management software – they are happy to have me share it with my other clients. In that way, my firm has built an informal community of advisors who are assisting each other.
It is also not uncommon for me to set up a call between clients to discuss a new technology they are thinking about using. For instance, recently one of my advisors was looking into changing telephone systems. I have another advisor client who is GREAT at doing research and finding the best-of-the-best. Instead of the first client spending hours doing the homework, I hooked the two of them up and the first advisor saved hours of work by benefiting from the research the second advisor had already done. I had a similar situation arise surrounding an online HR solution.
I personally think this is the way the relationship with your consultant should work. Does yours? If not, please give us a call or send us an email so we can see if we are a good fit to work together. If you are thinking about working with a consultant, please see my previous blogs for information on the selection process.
Thanks for listening, Ginny