On Being a Trusted Advisor – Part 2

This month we will continue a topic we initiated last month where we explored the concept of being a “Trusted Advisor”. In our opinion all advisors should strive to be Trusted Advisors. But how do you know when you’ve accomplished that? How do you know when you’ve “arrived”? We explore these topics and others including:

  • What does it mean to be a Trusted Advisor?
  • What do you have to do to become a trusted advisor?
  • What does it take for clients to give you 100% of their assets to manage?
  • How many clients can a Trusted Advisor serve?
  • What are the benefits of being a Trusted Advisor inside a bank or credit union?

Our guests include:

  • Matt Griffin – Financial Advisor/Manager director- Steward Concepts (Matt manages 100% of almost all his clients investable assets.)
  • Rob Cosentino – Wealth Consultant – Webster Investments
  • Dan Pellegrino – Sales Manager Webster Investments

The opinions voiced in this podcast are for general information only and are not intended to provide specific advice or recommendations for any individual. To determine which strategies or investments may be suitable for you, consult the appropriate qualified professional prior to making a decision.

 Securities and insurance offered through LPL or its affiliates are:

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  • Not Insured by FDIC or Any Other Government Agency
  • Not Bank Guaranteed
  • Not Bank Deposits or Obligations
  • May Lose Value

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Securities and advisory services are offered through LPL Financial (LPL), a registered investment advisor and broker-dealer (member FINRA/SIPC). Insurance products are offered through LPL or its licensed affiliates. Webster Bank and Webster Investments are not registered as a broker-dealer or investment advisor. Registered representatives of LPL offer products and services using Webster Investments, and may also be employees of Webster Bank. These products and services are being offered through LPL or its affiliates, which are separate entities from, and not affiliates of, Webster Bank or Webster Investments.

Webster Bank, Webster Investments, and LPL Financial are not affiliated with any of the other referenced entities.

Being a Trusted Advisor

For this episode, in addition to trends in our channel, we will discuss what it means to be a Trusted Advisor within the evolving landscape of Wealth Management. Our guests are a successful advisor and his manager from Regions Investment Services. Topics include:

  • Engendering trust to attract and retain assets
  • Differentiating your process
  • Managing through volatility
  • Segmentation
  • Leveraging staff

What is Wealth Management?

In addition to discussing how to thrive in a volatile market we follow up on the discussion from our last episode – our channel’s transition from investment services to wealth management. Is it real or window dressing? What are the emerging best-practices?

Topics include:

  • What is Wealth Management?
  • Best-practices during market volatility
  • Advisor tiering
  • Teamwork with Private Banking and Trust
  • Protecting client assets

We also talk about our favorite entertainment, travel, and wine apps!

Evolution of Business Models in our Channel

From investment management to wealth management, basic investment guidance to specialty investment guidance (like ESG), commissions to fees, things are changing in our channel. Join Jacinda Norvell, Senior Managing Director at Truist Wealth, and Cheryl Sutter, a leading advisor at American National Bank of Texas, as we discuss where things are headed.

The Evolution of Investment Services to Wealth Management

What’s the difference between “Investment Services” and “Wealth Management”, and how do we transition from one to the other? That’s what we discuss in this episode of BISA TrendWatch.

Our panelists are Scott Ford from US Bancorp and Josh Hinsch from Ameriprise.

In addition to defining true Wealth Management, we discuss advisor tiering, a team-based approach, and attracting top talent.

We also discuss the strangest food we’ve ever eaten 🙂

Managing 2022’s Challenges

Our panelists for this episode include an executive who manages one of the more successful programs in our channel, and an industry veteran known for his work with the entirety of a financial institution to assure alignment of critical strategic initiatives across the framework of an organization.

Discussion topics include:

  • Client communications related to economic uncertainty.
  • The biggest challenges of this year.
  • Standardizing Service Level Agreements.
  • Strategic initiatives that are working.

We also discuss who the most famous person is our panelists ever met!

Women in the Lead

In this special episode honoring Women’s History Month we feature four successful women in our channel who have each made unique contributions to making our industry a better place to work for women aspiring to be financial service professionals. Our discussion focuses on what it takes to be a female leader in our channel, and what advice our guests have for women who may be just starting out in our industry.

Topics include:

  • Making our channel more attractive to women
  • Advice for women just starting out in our industry
  • Thoughts on effectively recruiting women
  • Gratifying “women’s power” moments

We also discuss things that the panelist’s work colleagues don’t know about them 🙂

Growth Beyond the Branches

The topic for this episode is “Growth Beyond the Branches” and we use BISA’s recent research report of the same name as a basis for the discussion. Our guests are Mike Miroballi of Huntington, and Brian Surovik of Ameriprise.

Topic covered include:

  • The evolving role of the branch
  • The future of the branch-based advisor
  • Branches as “community centers”
  • Countering less referrals with higher quality referrals
  • Leveraging the digital experience
  • The Remote Advisor profit center
  • Second Story growth

Oh boy, we also make Super Bowl predictions…

Goodbye 2021 Hello 2022 – Lessons Learned

For this episode we’re joined by executives leading the charge in three third-party broker dealers that serve our channel: Chris Melton of Ameriprise, Jim Norwood of Securities America, and Dan O’Brien of LPL. We discuss leveraging lessons learned in 2021 to get off to a fast start in 2022. Topics include:

  • New measurements of success
  • Reinvention of branches
  • Fee-for-service
  • Providing choice – the RIA factor
  • Attracting the NextGens

We also talk about the best concerts we saw in 2021 🙂

Come join us!

How Do We Stay Relevant?

In this interview with David Zimmerman, one of the top performing program managers in our channel, we discuss where the puck is going in the wealth management space and what we must do to be relevant five years from now. We are also joined by Josh Hinsch who will tell us what the top performing programs at Ameriprise are doing to increase their success metrics.