How successful financial advisors have reframed their wealth-management business.
Ray Sclafani is the founder of ClientWise, a premier coaching company exclusively serving the financial-services industry. A professional certified coach and the holder of a master’s certification in neuro-linguistics, Mr. Sclafani leads a firm that has trained thousands of financial advisors in advanced practice management principles and methodologies to achieve more consistent success. He says these principles are based on years of studying and analyzing the best practices of financial firms of all sizes—both here and abroad.
In his 2016 book, “You’ve Been Framed,” Sclafani tackles the opportunities financial advisors have “to create change by the way in which they conduct their practices.” He says that “financial advising is a noble profession” that is capable of not only impacting the current generation of clients that financial advisors work with but also “carries forward through multiple generations.”
The core thesis of the book explores how financial advisors “are framed.” According to the introduction to the book, “The frame is the perspective outsiders have of your company. It may be accurate or false. Positive or negative. But if you haven’t actively nailed down what your business stands for—and what differentiates it from competitors—you’re likely reducing profits, talent, and the longevity of your firm.”
“You’ve Been Framed” outlines a process by which financial advisors can take control of their firm’s “frame” to attract prospects into their pipeline, win the next generation of clients, and deepen their businesses so they can “thrive long into the future.” While the book is very worthwhile to read in its entirety, Sclafani has also distilled its message down to 10 core principles into a webinar version he calls, “What the Best in the Business Don’t Want You to Know.”
Here, in shorthand form, are Ray Sclafani’s 10 core principles, or “secrets,” that begin to outline a road map toward success by using “21st-century wealth-management practices.”
Top 10 Secrets of “The Best in the Business”
TABLE 1: FIVE PRACTICE REFRAMES FOR THE 21ST CENTURY
What’s possible when you do this?
Mr. Sclafani writes:
Proactive Advisor Magazine wishes to thank Ray Sclafani and ClientWise for permission to use webinar and website material and excerpts from the book, “You’ve Been Framed.” Cover image by Corbis Images/Getty Images. Mr. Sclafani’s book, published by John Wiley & Sons, Inc. in 2016, can be obtained at www.wiley.com or at Amazon.
David Wismer is editor of Proactive Advisor Magazine. Mr. Wismer has deep experience in the communications field and content/editorial development. He has worked across many financial-services categories, including asset management, banking, insurance, financial media, exchange-traded products, and wealth management.