Practice Management Archives - CMG AdvisorCentral

Perspective: Why A Short Taxi Ride Was Worth Every Penny

Posted on 07.07.15 |

Michael F. Sciortino, Sr. Executive Vice President, Managing Director, Head of Distribution, CMG

Sometimes we gain valuable perspective in unexpected places.

On this particular trip, I arrived very late in the evening wanting to get to my hotel and to bed as quickly as possible. The next morning I had a very important presentation and I wanted as much rest as possible. As fate would have it, my driver from the airport to the hotel was very engaging and skillfully initiated and sustained our conversation throughout the entire ride.

4 Things To Be Grateful For At Mid-Year

Posted on 06.30.15 |

Michael F. Sciortino, Sr. Executive Vice President, Managing Director, Head of Distribution, CMG

It starts with being grateful for the people who have, do or will impact your life.

Believe it or not, we are now at the midway point of 2015 and heading into a long July 4th weekend. Whether it’s miles away from your daily routine or right where you are today, as human beings there’s no time like the present to step back and just “be”. Yes, be in the present. Use this as an opportunity to relax, recharge, and reconnect. When I consider the areas in which we can be grateful, I focus on 4.

1)Freedom

What a great time to offer thanks to the many that have made the freedom we enjoy today possible. That begins with the 56 men who signed the Declaration of Independence. As a special tribute, the Liberty Bell in Philadelphia is tapped 13 times every 4th of July in honor of the original 13 colonies. Then, what about our military?

How Your Business Can Produce More

Posted on 06.22.15 |

Michael F. Sciortino, Sr. Executive Vice President, Managing Director, Head of Distribution, CMG

How can you realign and retool your business?

Why do you get the tires on your car realigned periodically? Because due to the bumps, twists and turns in the road, every once and a while you need to realign to get back on track. Is your business any different? Of course not.

Have you checked your business alignment recently? Ask yourself the following questions:

* How is your client’s total experience with your firm?

* Are you still as passionate about the service you provide as you were one year ago?

* If not, what has changed?

* What components of your business must you realign now?

16 Tips Every Advisor Can Benefit From Today

Posted on 06.16.15 |

Michael F. Sciortino, Sr. Executive Vice President, Managing Director, Head of Distribution, CMG

How having daily guiding principles will help you as an advisor stay focused.

The most successful financial advisors possess discipline and focus. Many follow a set of rules they have created based on their experience over time. It is this adherence to these principles that make them successful.

This was certainly the case with another famous financier, Baron Rothschild. He was a member of one of the richest families in the world. By the 19th century, they ran a financial institution possessing the power and influence of a combined Merrill Lynch, JP Morgan and Morgan Stanley.

I read recently that after his death in the early 1800’s, as his executors were going through his belongings they ran across a list of the rules he followed to achieve his success. Sound principles like this never go out of style. I offer them to you today for your consideration.

5 Steps Advisors Can Use To Solve Client Problems

Posted on 06.09.15 |

Michael F. Sciortino, Sr. Executive Vice President, Managing Director, Head of Distribution, CMG

The foundation of advisor excellence lies in the ability to solve problems. That begins with listening.

Financial advisors work in a very dynamic and ever changing business. Clients want their problems solved quickly and efficiently. Having a process in place to handle problems is essential. It will save you time and money and demonstrate your ability to solve problems in a deliberate and caring way.

Years ago, I worked with an advisor who always appeared overwhelmed by the day to day problems in his practice. These were distractions that were clouding his focus, frustrating his staff and keeping him from growing his business the way he wanted.

On one of my visits to his office, I explained that how you think about a problem is key to solving it. When you stop and think, all wealth has been created by solving problems with ideas and solutions that save people time and money and that make their life easier. As advisors, this is what you do. You listen to the problem first and then you prescribe a solution that makes your client feel better.

Mike Sciortino in The Wall Street Journal

Posted on 06.08.15 |

Mike Sciortino, Head of Distribution at CMG Capital Management Group, is featured in the Wealth Adviser section of The Wall Street Journal. Mike talks about how advisors can be more successful by being active, engaged listeners. An excerpt:

“The degree to which you can provide clarity in your work will solidify your clients’ commitment to a plan, and their commitment to that plan determines your collective success. Really listening to a client’s goals and fears so that you can provide solutions that meet their fundamental needs is the foundation of that success.”

See the full story: Voices: Michael Sciortino, on the Value of Engaged Listening. After actively listening to your clients, tell stories to connect with their hearts.

The Top 10 Reasons To Exceed Expectations

Posted on 06.02.15 |

Michael F. Sciortino, Sr. Executive Vice President, Managing Director, Head of Distribution, CMG

Sam Walton used to say, ” High expectations are the key to everything.” Today, your success and your long-term sustainability depends on it.

There are certain ways of doing business that I have found are shared by those who are successful. One of those traits is strict adherence to certain guiding principles like, “Good, better, best. Never let it rest. Until your good is better and your better is best.”

Imagine making it a goal to be your best daily. To expect the best daily. Why just meet your client expectations when you can exceed them? People do business with people they can rely on without worry. They seek out someone who makes some aspect of their life easier.

3 Questions Your Clients Want Answered Today

Posted on 05.28.15 |

Michael F. Sciortino, Sr. Executive Vice President, Managing Director, Head of Distribution, CMG

Differentiation is more important today than ever before. The speed of technology demands that you constantly adapt and adjust. You can only create real value for your clients by understanding what is important to them.

Think for a moment. What are you doing to position your business as a special, distinctive and compelling solution for your clients and prospects?

Here are 3 critical questions you might want to craft answers to.

1) Why should I do business with you and your company?

Unfortunately, many companies don’t currently have a good answer to that question. Is it because they don’t have a shared mindset or is it because the leadership has not communicated their vision to their employees? If you think about it, how can any company outperform if their own employees can’t articulate why clients and prospects should do business with them? Is your message clear? If not, craft an answer and set yourself apart.

Why Your Success Is An Inside Job

Posted on 05.18.15 |

Michael F. Sciortino, Sr. Executive Vice President, Managing Director, Head of Distribution, CMG

One of my favorite words in the dictionary is success. In each human being there are many possibilities. Success is finding out which of these will be right for you. You select your values, your work, the person you marry, how you raise your children, the church you attend, the food you eat and the hobbies you pursue. How you choose and what you do with your choices are the road signs of your journey.

When I read, I’m constantly looking for material that can impact the lives of others. Oftentimes, a simple story can be the spark that empowers you to improve. I’d like to share one today that I ran across in my files.

On March 30, 1858, the United States Patent and Trademark Office granted the first ever patent for a modern day pencil with an eraser attached to it. Hymen Lipman created the wooden pencil that we have become accustomed to using for writing and drawing. Interestingly, manufacturers decided to paint the first pencils yellow because the color was associated with royalty and honor. This led people to assume that yellow pencils were the best type. What a brilliant marketing strategy.

The 5 Secrets To A Winning Team

Posted on 05.12.15 |

Michael F. Sciortino, Sr. Executive Vice President, Managing Director, Head of Distribution, CMG

Eight is enough if you play as one! What’s the story behind this message?

Last week, I attended the Envestnet conference in Chicago. On Friday, the keynote speaker was Mike Krzyzewski, head basketball coach of the 2015 National Champion Duke Blue Devils and Team USA. To say I had high expectations for his speech is an understatement. He exceeded my expectations by delivering an energized, story filled presentation.

Today, I would like to share some of the main takeaways from his talk that I know will prove useful to you as you pursue your goals for your business, team, and family.

Coach K, as he is known by everyone, has coached at Duke since 1980. He has led them to an amazing 5 National Championships and 12 Final Fours. Averaging over 25 wins a year, he has led his teams to over 1,000 wins. In addition, as head coach, he lead Team USA to 2 gold medals and was an assistant on 2 other gold medal winning teams.