Effective Business Planning in Financial Services with Nick Hayes #3

In this episode of Talk FS, Ryan Venner speaks with Nick Hayes, Managing Director of Peer Financial Solutions, about the essential elements for success in the financial services industry. They discuss the significance of having a practical business plan, the importance of community among self-employed advisors, navigating market challenges, and the lessons learned from the 2008 credit crunch. Nick emphasises the need for building trust and loyalty with clients, as well as the importance of continuous engagement and support in a fluctuating market.

 

Key takeaways from this episode:

• A business plan should be concise and actionable.
• Writing down your business plan helps in tracking progress.
• Community support is crucial for self-employed advisors.
• Advisors should build their own client banks.
• Market downturns can create opportunities for advisors.
• Understanding strengths and weaknesses is vital for success.
• Clients appreciate advisors who maintain communication.
• Building trust with clients leads to loyalty and referrals.
• Advisors should be holistic in their approach to client needs.
• Earning loyalty requires mutual respect and effort.

 

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