Delegate non-client servicing tasks
Clients hire advisors to provide advice... So, I built a staff accordingly: my advisors deal directly with their clients, and my support staff does everything else.
-Ric Edelman, Edelman Financial Services LLC
Most advisors spend 30% of their time prospecting, 40% on administrative matters and only 30% of their time actually servicing their existing clients. Our scenario is completely different: my advisors spend 100% of their time working with their clients. They spend zero time on marketing/prospecting, and zero time on administrative issues. Long ago, I recognized that clients hire advisors to provide advice, not to answer phones, mail letters or run ads in newspapers. So, I built a staff accordingly: my advisors deal directly with their clients, and my support staff does everything else. As a result, our clients enjoy far higher levels of personal service and attention from their advisor -- far more attention than more clients receive from ordinary advisors. That's because most advisors are highly distracted, doing other things that, while important, are not directly related to the client's needs. (Yes, someone has to open the mail, but that doesn't means it has to be done by the advisor.)
-Ric Edelman, Founder, Edelman Financial Services, In My Experience (from related Discussion)
and 
Posted by Myron Glucksman on May 29, 2007 at 02:48 PM EDT #