Practice management checklist for financial advisors working remotely

___ Set up your workspace with minimal distractions (easier said than done) 

 

___ Communicate often with your team through online collaboration or consider using communication tools such as www.slack.com or www.trello.com  or www.monday.com or asking your firm for tools 

 

___ Maintain a schedule or work hours. It is now easier than ever to just keep working. Tell people to have a normal start and end of the day. Remember you make more money by taking time off, not just working.  

 

___ Embrace your online meetings with staff, clients, and prospects. I have been telling advisors to save hundreds of hours of time through online meetings such as zoom or GoToMeeting for the past three years. Now is the time to implement what your firm recommends (with compliance approval of course) or go and implement online meeting software. Make sure both spouses are on the video calls. 

 

___ Update your technology. Look at getting a new laptop to work remotely with the latest technology. Get headphones for online calls. Noise-canceling headphones increase the sound quality and make the calls hands free

 

___ Consider recording the meetings with clients and prospects' permission of course. This is the perfect time to improve your conversations with clients, by listening to the discussion. Trust me do it one and you will improve! Start with a friend or colleague to test it out.   

 

___ Bring your team together ona regular basis online. You can do this by having a video mode setup for everyone. Go and budget for cameras so you can connect with your team online. Most online software allows for up to 25 people or more to be online with a camera. A global study group I am part of has people from every corner of the world online and on camera, from Dubai to Delhi and Denver.

 

___ Set up projects for your team to work on. What projects can be done while working remotely? For example, your onboarding process can be enhanced or worked on. Your meetings which may be online can now be delivered through Microsoft PowerPoint, enhancing the client experience with pictures of their goals. Work on your processes. 

 

___ Take courses. Encourage staff to take a course or two and do some online learning. A great place to start is Linkedin learning and start with the working remotely course as a starter. https://www.linkedin.com/learning/working-remotely-2/the-value-of-working-remotely

 

___ Technology considerations. Considering improving internet speeds, computers, and of course cybersecurity. Ask your firm for guidance or support on testing security protocols. Use Cat 6 cable, not CAT 5 for faster speed. 

 

___ Databases and data security. This should be your biggest concern. Consider updating your privacy and confidentiality forms with staff, to ensure complete confidential protection or data. Check with compliance and your firm for your online and working remotely policies and technology security protocols. 

 

___ Online scheduling. Consider using an online calendar for clients and prospects to set up an online call or online meeting with you. You can program the scheduler to do 15 or 30-minute calls, and all you have to do is email clients with the link. For a sample click on my calendar link here https://my.timetrade.com/book/JMTNJ or if you want to discuss practice management, you can book it. 

 

___ Sharing documents securely. Now more than ever email security may be at risk. Sharing documents securely by checking with your firm's recommendations or using software such as https://corporate.e-courier.ca/ or https://www.sharefile.com/  

 

___ Setting up a remote culture since you probably have never had to before. Go online or send me an email at grant@ghicks.com for guides on how to set up an online culture successfully. 

 

___ Consider an online document portal for clients and prospects, with firm approval of course. Ask me for a recommended platform. 

 

____ Deliver a mass update to clients through webinars. One webinar I helped build for advisors called the "10 strategies Go-forward plan for the next 12 months". Update clients, engage prospects and COI's and use webinars as an excuse for more communication. 

 

 

Share this checklist with your team on an online call and discuss your new practice management processes for working remotely. If you add to the list, let me know, I would love to hear from you, as I tried to shorten it up as best I could. Best of luck continuing to work remotely!  

 

How about your goals for your practice in 2021? Our Practice management checklist or fee
audit checklist  

While each financial advisor's practice may have a different approach, advisors need to understand where their practice needs help, and will they get the right help for the right part of their practice. What areas does your practice need help with? Get a copy of our updated 21-page “Comprehensive Practice Management Strategies checklist” by going to our website https://www.advisorpracticemanagement.com/about-us or clicking here https://practicemanagement.getresponsepages.com/
Fee audit checklist for ideal prospects, click here https://feeaudit.getresponsepages.com/

Call me

Contact us to help get clarity around your goals on paper, and having the goals conversation by contacting grant at grant@ghicks.com or click on the link to set up a no-obligation 20-minute discussion https://my.timetrade.com/book/JMTNJ regardless if we work together, let’s have a chat and listen to your biggest practice management concerns to help you get clarity around your future business.

Grant Hicks, CIM, is President of Advisor Practice Management and co-author of “Guerrilla Marketing For Financial Advisors” 1st and 2nd edition. www.advisorpracticemanagement.com  for speaking, workshops or coaching, contact Grant at grant@ghicks.com  Grants combined
financial advisor clients manage over 4 billion AUM , and earn over $40 million dollars combined!