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"A
one-of-a-kind resource based on insights from
America's top advisors...Shook shares these ideas
and strategies in a practical, useful and enjoyable
format."
Jim Putnam, Managing Director
National Sales LPL Financial Services
"The
Winner's Circle gives readers an up-close look
at the best practices of some of the most successful
advisors in the business."
Brian
Heath, General Manager
American Express Financial Advisors
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The Winner's Circle IV
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Information
about
The Winner's Circle
World-class
advice from the best financial advisors in the
business to investors and financial professionals
Wealth management is a burgeoning field that is
rapidly evolving. One thing is for sure: there
is not one right approach. Just as there are many
types of investors-ranging from a multitude of
demographics to complex situations-there are a
myriad of approaches. Who's to say which approach
is correct? The answer lies in each investor's
ability to reach his or her needs, goals, objectives,
and dreams.
The
Winner's Circle is designed to document the best
practices of the industry's most outstanding wealth
advisors. Each has developed their own techniques
that they have fine-tuned for their particular
clients. Because these advisors tend to focus
on the "right" clients-that is, those investors
for whom their practice caters-they have developed
their team of specialists, systems and investment
strategies to tailor to their particular client
types.
Industry
professionals will gain valuable insight into
the most successful wealth management teams in
the industry. For these professionals, I recommend
picking and choosing those techniques that are
right for you and your practice. You'll also benefit
from learning best practices from the best in
the business, from prospecting different demographics
and building a referral system among a clientele
to building a world-class team and offering superior
advice and service.
Investors
have the opportunity to learn wealth management
techniques that are typically reserved for elite
investors. If you are working with a wealth advisor,
compare the levels of advice and service the team
is providing you with these outstanding advisors,
and obtain valuable ideas that you can share with
the team that is serving you.
Each
of the wealth advisors in this book is a dedicated
professional who is well qualified to serve as
a role model to others in the investment field.
I hope that many existing and future advisors
will pattern themselves after one or more of the
people profiled in this book. If so, my writing
will have made a valuable contribution to the
investment community around the world.
Featured
in annual Barron's Magazine cover stories,
the Winner's Circle book series reveal wealth
management insights from America's best wealth
advisors. Typically reserved for elite and institutional
investors these advisors share wealth management
secrets and investing strategies that these advisors
recommend to their clients.
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The Winner's Circle IV
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The Winner's Circle III
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From
the Publisher
A
team of America's most successful financial advisors
offer their advice to private investors and financial
professionals in this insightful guide. These
advisors, who typically reserve their advice for
elite and institutional investors, share their
private wealth management and investing strategy
secrets, including how they provide extraordinary
advice and service, how they have built their
businesses, which direction their businesses are
taking for the future, and how they have set themselves
apart from the vast majority of Wall Street professionals.
Providing ideas and guidance for a variety of
financial situations, this guide is an answer
to securing prosperity for the future.
R.
J. Shook is the author of eight books, including
The Winner's Circle: How 30 Financial Advisors
Became the Best in the Business and The Winner's
Circle II: How Ten Stockbrokers Became the Best
in the Business, and the web site, www.winnerscirclenet.com.
He is the founder of the Winner's Circle, an organization
dedicated to recognizing the most outstanding
financial advisors in the business. He lives in
Boca Raton, Florida.
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The Winner's Circle III
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Contents
of Book
Since
I've written the first two Winner's Circle
books, I've had the opportunity to speak at hundreds
of industry engagements, ranging from training
classes and incentive trips to seminars and conferences.
After talking individually to thousands of brokers,
I decided to change the format of my third edition
of The Winner's Circle. First, instead
of ten, I profiled 30 financial advisors in order
to provide broader perspectives. Second, I segmented
the book thematically by dividing the book into
14 sections, with each financial advisor profiled
in at least one chapter within one or more sections.
Hence, each individual appears in a section that
best represents his or her strengths. The obvious
benefit of organizing the book in this format
is that a reader who is interested in becoming
more involved in his or her community, for example,
will find Deborah Frazier's approach to building
a book of business to be of particular interest.
This Merrill broker began her career by educating
and offering financial advice to lower-income
families and church groups. Proving Greenberg's
theory, in what seems to defy logic, Frazier became
successful by giving to the community first. Following
are The Winner's Circle sections.
- Team
building
- Building
a fee-based business
- Prospecting
and Marketing
- Wealth
Management
- Going
Independent
- Building
Relationships and Loyalty
- Customer
Service
- Building
a Billion Dollar Book
- Getting
to the Next Level
- Investment
Philosophies
- Differentiation
- Corporate
Plan Business
- Community
Involvement
- Building
a Brand
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Criteria
for Financial Advisors
In searching for America's most successful financial
advisors, I developed a system deemed fair and
suitable by the industry's securities firms. First,
I narrowed a lengthy list of firms to a top 100;
I qualified these entities based on acceptable
compliance track records. Following discussions
about identifying their top advisors, my list
was reduced to 46 firms. At each of these firms,
my research process dictated that I speak with
several representatives in multiple departments,
including public relations, national sales, divisional
and regional managers, compliance/legal departments,
and oftentimes CEOs and Presidents. Each firm
provided me with their recommendations that they
considered their most outstanding financial advisors.
At this point, my list had approximately 300 candidates,
each of whom was viewed as a strong role model
for all industry professionals and an excellent
financial advisor to represent his or her firm.
My selections were based on the following weighted
criteria:
Qualitative
Criteria
Acceptable
compliance and legal records. Only FAs with
the highest ethical standards and integrity
are considered. Leeway for pending actions or
minor disputes is given by the FA's firm. (Weighting:
affirmative or denial)
Client
Satisfaction. As determined by the FA's
firm (with input from Management and Client-Satisfaction
reports) and random client interviews. (Weighting:
)
Community
involvement. Based
on previous Winner's Circle evaluations, it
is almost a given that these top achievers are
involved in their communities and the industry,
most of them active role models. FAs are assigned
a rating of 1-10 for community involvement.
(Criterion weighting: )
Other:
Professional designations, team, platform, etc.
Quantitative
Criteria
Consistently
high revenue numbers. Gross
revenue levels for retail (individual, high
net worth and ultra high net worth) accounts
over the past three years are considered, with
a heavier weighting for revenue in most current
calendar year. For partnerships, FAs will be
considered on their percent ownership of revenue.
(Criterion weighting: )
Assets
under management. Total assets that the
FA advises at the firm are considered. Also,
a qualitative rating is given to the types of
assets. (Criterion weighting: )
Outside
Assets under management. Assets that the
FA has under management but not custodied at
his or her firm will be considered. so, a qualitative
rating is given to the types of assets. (Criterion
weighting: )
Over
the course of two months, I pre-interviewed these
top financial advisors. My ultimate decisions
were primarily based on my objective approach
in utilizing my criteria, as well as a lighter-weighted
subjective approach, consisting of identifying
individuals from a diversity of firms, and a cross-section
of the country. In the end, I was able to select
financial advisors from diverse securities firms,
and I felt comfortable that as a composite, they
are indeed among the most outstanding in the business.
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