Financial Institutions Newsletter FI-News-2018-Q4 - Page 9

What kind of support do you receive from Securities America and the financial institutions team? We have always received great support from the team at Securities America. Any time we have ever needed anything they are right there to help. David Perez and Zach Porter have always gone above and beyond to provide assistance. Our office can not say enough good things about these individuals and as well as the entire financial institutions team. Where do you see your practice in the next three to five years and beyond? We have always felt that trying to predict the future in this business was a fool’s errand. If you would have showed me today’s business mix five years ago, I would have said it wasn’t possible. In my opinion, with all the regulatory and business changes that may or may not happen, plus the ones we don’t even know about, make it difficult to predict anything in our industry. I feel like our focus will continue to be on advisory/trail business and working to retain our clients. Describe the role technology plays in your practice. We are not really a technology-heavy firm. I still like to use a yellow legal notepad when I meet with clients. Our office uses Redtail to track client workflows and meeting notes. We also use Albridge to produce client reports. What demographic are the majority of your clients (i.e. farmers, baby boomers, white collar/blue collar workers)? Most of our clients are of the baby boomer generation and older, which is reflective of our local demographic. We are in rural locations, so the majority of our client base has some connection to the farming, oil or coal industries. As advisors, we are the ones accountable, not the talking heads on TV, radio or blogs. We must be able to look our clients in the eye with the personal confidence that we provided the very best service based on our professional experience with that client. What are the most significant and beneficial business practice or strategic focus changes you have made to your practice in the last 12 months? How have they impacted your business? Transitioning a portion of our business to advisory accounts has allowed us to focus more on the relationship development aspect of client service rather than providing strictly transactional service. I feel this has helped strengthen client trust because we aren’t always calling and trying to make a sale. What advice do you have for other advisors in the industry? I would tell anyone in the industry to always do what you feel is best for the client and the relationship you have with them. It might not always be what the client wants to hear or be immediately profitable for the advisor. However, educating the client beyond what they may have been exposed to on TV, radio or internet is critical to providing true financial advice based on their personal situation. As advisors, we are the ones accountable, not the talking heads on TV, radio or blogs. We must be able to look our clients in the eye with the personal confidence that we provided the very best service based on our professional experience with that client. 4 th QUARTER 2018 | Financial Institutions Newsletter 8