Tactical investing news, views and resources for financial advisors
In Friday’s On My Radar, Steve links to a great interview of David Swensen, Yale’s CIO, by former Goldman co-chairman and former Treasury Secretary, Robert Rubin.
Take a few minutes and watch the interview. It’s worth it. Add Swensen to the list of famed investors predicting low single-digit forward returns. He shares some sage advice on portfolio management and diversification.
Click the photo for the full interview.
Michael F. Sciortino, Sr. Executive Vice President, Managing Director, Head of Distribution, CMG
Imagine that you are not a financial advisor and you have no clients. Imagine you’re someone with a different job or occupation, with a different perspective on money. You focus only on rate of return, rather the reality of meeting financial goals and helping your clients find financial satisfaction.
Stop right here! The dream is over.
You’re a financial advisor with the awesome ability to positively influence your client’s lives and help them achieve their goals.
With the volatility we’ve experienced in the world markets in the last few years, many clients are beginning to ask, ” Is what I’m doing going to work tomorrow?”
Well, the world is certainly changing and flexibility becomes increasingly important to your client’s future success. This is where your client needs you more than ever before. The magic comes in the relationship that you can nurture with your clients simply by listening to what they want and need, then underpromising and overperforming.
Michael F. Sciortino, Sr.
Executive Vice President, Managing Director, Head of Distribution
CMG
How would you like to be the one who shows your client the path to realizing their goals? What would that path look like? Like Dorothy in the Wizard of Oz was shown the path, ” Follow the yellowbrick road”, what clients are constantly telling their advisors is, “show me the path to achieve my goals.” Show me “how to” successfully move from where I am today to where I want to be down the road. Every financial goal your clients will ultimately achieve depends on the day to day small steps they take under your guidance. Clients simply want relief from worry. They are desperately seeking a clear, disciplined and decisive plan of action.
Our biggest challenge as advisors is to help clients examine their dreams and goals carefully to find the right path suitable for them. Think about it. Isn’t your role awesome. Every single day your client has 24 hours to move forward along their path toward achieving their dreams and goals. It is simply up to you to help them make a little progress each day. What an opportunity!
Mike Sciortino‘s presentation tomorrow at #CambridgeIgnite conference in Chicago is called “Time Blocking – Your Path to Success”.
Mike’s quick hint: It’s really all about the basic blocking and tackling.
To illustrate, what do Bill Belichick and Nick Saban have in common? Championships? Yes. Rings? Yes. But how did they reach the pinnacles of their profession? By executing a well thought out Game Plan. Why did a Game Plan work? It kept the players focused, laid out the path to success and eliminated distractions. Will a Game Plan work for you? Absolutely! This helps you focus on your best talents and strengths.
The CMG team is on the way to Cambridge Ignite 2014 in Chicago.
Stop in to see us at Booth #27 in the Money Managers section for your free White Paper on Tactical Investing. If you’re at the conference make sure you block out time to attend Mike Sciortino’s presentation on “Time Blocking.” Mike is a master at helping advisors build a more efficient, productive practice. The presentation is Thursday, August 7, 11:30 AM in the “Chicago 10” room.
Michael F. Sciortino, Sr.
Executive Vice President, Managing Director, Head of Distribution
CMG
Luck is where preparation and opportunity intersect. The sky’s the limit…really! So why not adequately prepare? Have you ever attended a Broadway play? If so, you know the quality of these productions. What you may not have realized is the hours and hours of preparation and practice that go into the production. This is a proven formula for success.
Pro Tip: Rehearse in front of the mirror
to improve your technique
In our business, those who successfully market using seminars prepare as well. The best I have seen have a way of conveying enthusiasm and passion for their topic. I remember early on in my career asking a successful advisor how he became such an accomplished speaker. His formula was simple. Prior to the evening of the seminar, it was not uncommon for him to deliver that presentation numerous times to an audience of one, his mirror. That enabled him to work out the proper pauses, correct voice inflections and practice necessary mannerisms to connect with his audience.
Michael F. Sciortino, Sr.
Executive Vice President, Managing Director, Head of Distribution
CMG
As Robert Louis Stevenson once said, “To become what we are capable of becoming is the only end in life.”
Once you begin to understand and realize what you are capable of, the whole world changes. Sure, we all want our life to matter but how can we seize this amazing opportunity, this one-of-a-kind lifetime, this once-in-history opportunity to be extraordinary? Let’s begin with the following question.
When was the last time you sat down and really thought about how you can design an extraordinary life for you and your family? It might be quite different than what you envisioned years ago. With life’s normal cycles, it probably is.
When I look at the lives of extraordinary people, I find that most had a way of saying no to the unimportant so they could say yes to the important, whatever that was in their lives. They passionately believe that wherever they are now, they can get better. I also found that the earlier in life that they began playing to their strengths, the more opportunity they had to develop and enjoy their unique abilities.
Michael F. Sciortino, Sr.
Executive Vice President, Managing Director, Head of Distribution
CMG
Let’s begin by looking at some advice from John Wesley…
Do all the good you can,
By all the means you can,
In all the ways you can,
To all the people you can,
For as long as you ever can.
Wow, that’s a lot of action! If you do this, what you will accomplish will amaze you. Ultimately, fulfillment in life comes from making a difference in other people’s lives. How? By helping people (in this case, your clients) make positive changes in their lives. Holding back and giving less than our best effort is never better than action. We as advisors are called to take action right now.
Michael F. Sciortino, Sr.
Executive VP, Managing Director, Head of Distribution
CMG
You’ve probably heard the saying, “it’s all in how you think about a situation.” That mindset plays such an important role in success. Here are a few great examples of the power of the right mindset:
“We take hamburgers more seriously than anyone else.” – Ray Kroc, founder of McDonald’s
“Champions take responsibility. When the ball is coming over the net, you can be sure I want the ball.” – Billie Jean King
“You must do the thing you think you cannot do.” – Eleanor Roosevelt
Yes, the caliber of information that we daily and consistently and repeatedly put into our brain is what actually programs our mind where to FOCUS.
Programming your thinking is vital. Why? Because what you think precedes every action. Your 
mindset must literally be seeded every day with inspiring and uplifting thoughts.
How can we do this?
1) Wake up earlier. It’s really not as bad as you think. Allow yourself some quiet time to read something that will inspire you.
2) Script your day as if it has already happened. Yes, I know sometimes distractions occur but you will certainly accomplish more that day if it is well planned. Walt Disney was famous for this. He called it a script that your mind can follow. The body and your daily actions follow your mind.
3) Listen to morning motivational music or life enriching CDs on your drive to work.
Steve Jobs, the founder of Apple, did one thing every morning to keep him on track and focused. In his commencement address at Stanford University, he revealed that he looked in the mirror every single morning and he asked himself this very important question.
” If I died tonight, will I be glad that I did what I am planning to do today?”
Q: What’s your answer?
By the way, if the answer is no, then maybe you should consider changing the plan! – Mike Sciortino
Michael F. Sciortino, Sr.
Executive Vice President, Managing Director, Head of Distribution
CMG
Every day you have the opportunity to do something great for your clients. Most successful advisors I know are always trying to find that extraordinary breakthrough that allows them to serve their clients better. Sometimes that breakthrough is simply the broad perspective and experience you offer to your clients as you guide them to reach prudent decisions. Let’s face it, in any given set of circumstances your clients face, their own view or perspective will determine and direct their response unless you are there to guide them. Therefore, it is vital that you allow them to share with you their core concerns, needs and feelings at your client meeting.
Here are some thoughts to consider as you prepare for the meeting:
