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Book Image Not Available
Book details
  • Genre:BUSINESS & ECONOMICS
  • SubGenre:Finance
  • Language:English
  • Pages:50
  • eBook ISBN:9781626756922

Building Powerful Strategic Alliances

How to Leverage Today’s Most Effective Business-Building Strategy

by John J. Bowen Jr. , Jonathan J. Powell and Paul Brunswick

Book Image Not Available
Overview
Strategic alliances are the most effective approach we know for financial advisors to take their businesses to a significantly higher level in a relatively short period of time. We know—both through our industry research and through the work of hundreds of financial advisors in our coaching programs—that the majority of affluent clients prefer to find their financial advisors through referrals from trusted professionals. Well-crafted strategic alliances will create a stream of introductions to prequalified, affluent prospects from their professional advisors—your strategic partners. In today’s economic climate, many professional advisors are looking for new ways to grow their practices and are turning to financial advisors for help in doing so. Through strategic alliances, they are able to grow their revenues at comparatively little cost and, just as important, serve their clients better. This makes them preconditioned to want to work with financial advisors. In this ebook, you will gain the knowledge you need to systematically tap the potential of strategic alliances. You will learn what sets true strategic alliances apart from informal referral arrangements and how that difference will benefit both you and your strategic partners. So that you can see why strategic alliances are so attractive to other professionals, we will show you the results of a study we recently conducted of CPA firms that rely heavily on alliances with financial advisors. To get you started on building powerful alliances, we will give you a method for assessing the strategic potential of any professional advisor to identify the best candidates. We then will delve into the strategic alliance consultative process—our road-tested method for building winning strategic partnerships. Finally, you will learn how to hit the ground running by using the three key best practices for strategic alliances. Strategic alliances create that rarest of situations: a true win-win-win. Other professional advis
Description
Successful strategic alliances require time and diligence. But their potential reward is well worth the effort. Simply put, they are the most effective approach we know to take your business to a significantly higher level in a relatively short period of time. We know—both through our industry research and through the work of hundreds of financial advisors in our coaching programs—that the majority of affluent clients prefer to find their financial advisors through referrals from trusted professionals. Well-crafted strategic alliances will create a stream of introductions to prequalified, affluent prospects from their professional advisors—your strategic partners. Today’s economic climate has created a number of business challenges for professional advisors. Many are looking for new ways to grow their practices and are turning to financial advisors for help in doing so. Through strategic alliances, they are able to grow their revenues at comparatively little cost and, just as important, serve their clients better. This makes them preconditioned to want to work with financial advisors. In this ebook, you will gain the knowledge you need to systematically tap the potential of strategic alliances. You will learn what sets true strategic alliances apart from informal referral arrangements and how that difference will benefit both you and your strategic partners. So that you can see why strategic alliances are so attractive to other professionals, we will show you the results of a study we recently conducted of CPA firms that rely heavily on alliances with financial advisors. To get you started on building powerful alliances, we will give you a method for assessing the strategic potential of any professional advisor to identify the best candidates. We then will delve into the strategic alliance consultative process—our road-tested method for building winning strategic partnerships. Finally, you will learn how to hit the ground running by using the three key best practices for strategic alliances. Strategic alliances create that rarest of situations: a true win-win-win. Other professional advisors win by growing their revenues from their current client bases. Financial advisors win by acquiring additional affluent clients. And those clients win by receiving the complete range of financial services through a single trusted professional. We encourage you to explore how to create this win-win-win in your own business.
About the author
John Bowen founded CEG Worldwide in 2000, with the goal of bringing to bear the lessons he had learned during his career for the benefit of financial advisors and the institutions that work with advisors. His 26 years as a financial advisor and investment firm CEO had taught Bowen that many advisors lacked the high-quality empirical data and pragmatic business experience necessary to build hugely successful businesses. Bowen founded CEG Worldwide to fill that void, with the belief that providing advisors and institutions with research about the best practices of top elite advisors—and the coaching to use these practices effectively—would help them achieve new levels of success. CEG Worldwide represents the culmination of Bowen’s unique financial services industry experience. That experience encompasses a career as a financial advisor, including eight years as CEO of Reinhardt Werba Bowen Advisory Services, where he helped manage more than $1.6 billion in assets. Bowen sold that company and subsequently became CEO of Assante Capital Management, where he served as a member of the senior team as the firm more than tripled assets under management to more than $25 billion. Through these experiences, Bowen learned firsthand the best practices for substantial success. He also learned that the vast majority of advisors and institutions lacked a road map to build a simple and elegant practice—so he founded CEG Worldwide to provide other advisors and institutions the lessons his experience had taught him. Bowen is widely recognized as a leader in the financial services industry. He writes a highly acclaimed monthly column for the leading U.S. financial services trade journal, Financial Planning. He is the author or co-author of several books, including Breaking Through: Building a World-Class Wealth Management Business, The Prudent Investor’s Guide to Beating Wall Street at Its Own Game and Creating Equity: How to Build a Hugely Successful Asset Management Business. Bowen received his BS degree in economics from the State University of New York Fredonia, an MBA in taxation from Golden Gate University and a master’s degree in financial services from The American College.
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