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How to Manage Your Practice

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       Your Real versus Stated Value, Part II by Steven Drozdeck. You and I are often in the same situation as most investors when it comes to choosing the professionals we rely upon. How do most people choose their doctors, dentists, lawyers, accountants, psychologists, ministers, mechanics, etc.? Word of mouth? Referral from someone we trust? The ad in the Yellow Pages? Our gut reaction? Yes, to all of these scientific methodologies. But, how did you know they were competent and could be trusted? The answer is simple. If you recovered from an illness, if they asked astute questions, if they followed up on your requests for information, they verified that you were satisfied with the results, then you know. Notice how many answers are based on a subjective experience. Reality is a subjective experience. What clients perceive as good service is good service, even if it is poor. What clients perceive as poor service is poor, even if it is good. Perceptions and expectations dictate our reality. How you clients perceive you - as a good or poor advisor - is largely determined by their interactions with you. A bull market does not make you a genius nor does a bear market make you a bum. It is how we interact and communicate with our clients that determines our client's perception of us. (Download the article in pdf format with graphics or download the article without graphics in pdf format.)

        Your Actual vs. Perceived Value, Part I Steven Drozdeck, President, The Progress Center ... too often advisors go to seminars where they learn how to describe all their value added, yet they never learn the key competencies that are the prerequisites to adding value. We have beautifully sounding statements designed to "wow" the client, but we do not know how to actually add value or have access to the processes and technology necessary to provide the promised substance behind our value proposition. So what can we do about it? A lot or a little, depending upon your perspective . . . (Download article with graphics in pdf format or download article in pdf format without graphics - a faster download.)

        What Is Your Unique Value Proposition? by Stephen C. Winks. This is a supercharged competitive environment where clients are better informed, have greater choices, are more enlightened and are far more sophisticated. In this new competitive business environment, our success depends on our ability to articulate and deliver our unqiue value proposition. (Download in pdf format)

        eFrontiers Puts Mobiüs, Manager Search and RFP On-Line for Free by Stephen C. Winks. With eFrontiers' manager search and selection process and the RFP process on-line for institutional investors, managers and consultants, we are at the very beginning of what will become the Renaissance of investment management consulting, as to many investors a whole new investment world is evolving. (Download in pdf format)


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        New Challenges, New Solutions by Robert L. Kendall, Jr. Looking to the immediate future, many of our industry's current trends will have taken a firm hold. Due to the commoditization of cheaper, more efficient, on-line trading, the major firms will be forced to completely convert the way they charge customers for advice. (Download in pdf format)

        Building a World-Class Business by Stephen C. Winks. Is there never enough time to get everything done? Does it seem like you are always in a reactive mode? Do you cancel team meetings becuase you are too busy to have them? Are you spending enough time with your family? Do you find it difficult to find and keep good people? Do you know you should be doing a better job serving your clients? Is there a hgih level of stress and frustration among your team members? Are you leaving dollars on the table because you donít have time to get them? Are you drowning in paperwork? Are you always scrambling to get things done at the last minute? Does your business depend too much on you? If these sound all too familiar, all highly successful consultants at one time or another have experienced these growth pains in building their business. (Download the article in pdf format with graphics or download the article without graphics in pdf format.)

        Salomon Smith Barney Creates New Technology by Stephen C. Winks. Salomon Smith Barney has rolled out the first phase of a new three-phase technology platform called Orion to 640 of its top 850 consultants. Orion is designed to greatly elevate the level of professional investment counsel which can be provided by the consultant, while simplifying and streamlining the technology required to add value. (Download in pdf format)

        Fidelity Closer to Paperless Office by Stephen C. Winks. As investment management consultants look for ways to create more operating efficiencies in their practice, Fidelity Investment Advisor Group (FIAG) has created new internet-based technology which will move the registered investment advisor toward a paperless office. (Download in pdf format)

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