Advisor Assessment
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How do you stack up against our Elite Advisors! Is your business designed to go elite? Take this quiz.
What’s your name?
First
Last
What’s your company name?
Email
How many employees do you have?
How much money do you currently manage?
> 50 Million
51 - 100 Million
101 - 250 Million
251 - 500 Million
< 500 Million
How many new assets do you bring in per year on average?
> 5 Million
5 - 10 Million
10 - 25 Million
25 - 50 Million
< 50 Million
Do you offer fixed indexed annuities to your clients?
Yes
No
Approximately how much per year do you write?
> 3 Million
3 - 5 Million
5 - 10 Million
10 - 25 Million
< 25 Million
Assets
Elite advisors have a vision and growth strategy that is designed for success. What’s your foundation look like?
Is your business in growth mode, or are you a lifestyle practice?
Growth
Lifestyle
A combination of both
I have an inspiring vision for the future of my business?
Yes
No
Unsure
My team believes in the vision for my business and is excited for the future of it.
Without a doubt
Not sure
Probably not
I have a peer group of top producers who challenge me, inspire me and help me to grow and improve.
Just friend or two in the business
Yes, I have a ton of advisors I can learn from
I feel like I’m on an island on my own
I participate at least three events per year that allow me to learn from others.
Yes
No
I have a business coach who is playing an active role in helping me take my business to the next level.
Yes
No
I eagerly ask for honest feedback from clients, my team and others in order to identify areas of improvement.
Without a doubt
Kind of
Not really
Unfortunately, no
I regularly find time away from the office to work on my business instead of in it.
I routinely ask for feedback
I love feedback, but don’t ask for it as much as I should
I hardly ever get any feedback
I have a hard time taking feedback
I make business decisions based on long-term goals and objectives rather than short-term goals and objectives.
Yes
No
Baseline Total
There’s not a single elite advisor out there who doesn’t have a top tier marketing department. Let’s take a look at how marketing is working for you today.
My marketing is dialed in and targets the exact clientele tier that my business is designed to help.
Our marketing is very intentional and targeted
Somewhat, but it could improve
Not really, we occasionally tend to spend time with none ideal people
No, our marketing is a shotgun approach and we get a little of everybody
I know exactly how many prospects we need to see per week in order to hit our goals.
Yes, the exact number
We have a rough estimate
Not really
No idea
I track and use data to understand exactly which marketing efforts lead to new appointments.
Yes, the exact number
We have a good estimate
No
I understand exactly what the cost is per appointment from each of our marketing initiatives.
Yes, the exact number
Yes, we have a good estimate
No
The majority of our marketing efforts are spent on direct response marketing, which generates new appointments in a predictable way.
Yes
No
What is direct response marketing?
This is how many marketing funnels I have. I use them to generate new appointments weekly.
1-2
3-4
5-6
7+
I put 10% of my marketing budget into testing new things each year
Yes
No
I have an automated and active drip campaign that helps us stay in touch with and engage leads.
Yes
We do occasionally send emails, newsletters and other items, but the process is not automated
No
I have a systematic referral process that puts me in front of prospective clients consistently each month.
Yes, it’s predictable and working
No, but we do get referrals from time to time
No, we don’t get many referrals
We have regular client events that our clients bring friends to.
Yes, we meet 4 + times a year
We have events, but our clients rarely bring friends
No, we don’t have client events
Marketing Total
A robust sales process is the secret sauce for our advisors. How is your sales process looking?
How many “producing” advisors are in your office?
Just me
Myself and one other
2-4 (excluding myself)
4+
I have a systematic appointment process where I ask each client the same series of questions as opposed to “winging it.”
Yes, it’s the same and it’s documented
It’s pretty much the same
No, my approach varies based on my gut and the client
Every one of our advisors runs a very similar process and shares a very similar message during appointments.
Yes, it’s the same and it’s documented
It’s pretty much the same
No, my approach varies based on my gut and the client
My sales process has a unique, proprietary name that is branded and trademarked.
Yes, it’s the same and it’s documented
No
I’m not sure I understand
With new clients, we sell our process first and explain how it serves them rather than leading with products and investments.
Yes
No
We sell both equally
When a client agrees to join us, it’s because they understand the value of our team and our planning process, it’s not because of a specific product or investment portfolio.
Yes
No
During our appointment process, we do not use the word “I.” Instead, we sell the team by saying “we/us.”
Yes
No
Not Sure
If one advisor has an emergency and can’t make an appointment, I am confident another advisor can step in and take it where they left off due to our process being the same for all.
Yes
No
We could try, but I’m not sure
We have a strict client onboarding process which includes a series of communications, gifts and updates during their first sixty days with us.
Yes
We have a similar process, but could improve it
No, my approach varies based on my gut and the client
No
When a new client joins, we give them a very professional branded deliverable that reflects on the type of planning we’ve done for them.
Yes
No
We are clear about what our most common objections are for why someone doesn’t become a customer.
Yes, we are clear and are working to improve
Not really, different ones pop up that create a struggle for us
No, they are all over the place
My advisors and I do a weekly sales training in order to stay sharp and help each other improve.
We meet every week and focus on sales training
We meet as a team regularly, but not weekly
We meet but meetings are more of an update than a sales training
I am all by myself
My clients do not have access to myself or my advisors via cell phone.
Yes
No
My team conducts a product/investment update regularly to ensure that we are up to speed with changing investment tools.
Yes
We meet about this when necessary
No
When a client joins my company, they immediately develop relationships with multiple team members and know the team will serve them rather than just one person.
Yes
No
I have had a friend or colleague secret shop our company experience and share important feedback with the team.
Yes
No
I have written a book and often hand it out or send it to our clients and prospective clients.
Yes
We have a book, but do not leverage it like we should
No
Sales Total
When you step into the office, how do you feel?
How many employee’s do you have?
1-3
3-6
7-12
13-20
20+
I am confident that my team is capable of taking the initiative necessary to grow the business.
Yes
Yes, but they need more training
No
No, our growth is primarily tied to my productivity
My team constantly does what they can to protect my time.
Yes
Yes they help where they can
No, they actually bring things for me to do and tend to disrupt me
No, all things come to me
My team is inspired and excited to grow the business each day.
Yes
Kind of
No
My org chart was designed to have specialists focus their time on high value activities.
True
Somewhat
No, I pretty much do it all
How often do you engage in building events that get your team members together so that you can build a great culture?
Quarterly
Once or twice a year
Once a year
Never
How would you rank the culture of your office?
It’s great, everybody loves working together
It’s good, but could improve
Not sure/average
Below average
It’s really bad
I know what my highest value work is and what an hour of my time is worth.
Yes
I could give a good guess, but haven’t calculated it exactly
No
How often do you delegate with confidence and avoid getting pulled into the weeds?
Every day
Most of the time
Infrequently
Never
I have a designated service team who is responsible for giving our clients a great experience.
Yes
No
We tend to hire people before we need them so they will be ready as we grow.
Every day
Most of the time
Infrequently
Never
When hiring new people, we have a process in order to make sure they have the right skills we need and are a culture fit.
Yes
No, but I would like to start
No
We have the following benefits for our employees (check all that apply)
Heath insurance
401k
Employee stock options
3 weeks + PTO
Disability insurance
Select All
I know what each of my team member’s personal goals are and am eager to help them grow.
Yes
I haven’t asked
No
My teams’ incentives are aligned with company outcomes.
Yes
We have incentives, but they are not aligned with company goals
No, we don’t do employee incentives/bonuses currently
I have a backup person for every primary role in the office, so if someone gets sick the business still moves forward with very little stress.
Yes
No
Each of our processes is documented.
Yes
No
My team does a good job of taking accurate notes that are stored in our CRM.
Yes
We take notes, but don’t put them in a CRM as much as we’d like
No
Not including myself, my office has hired for the following positions (check all that apply).
Selling advisor
Service advisor
Paraplanner
COO
CMO
CCO
Executive assistant
Director of culture
Select All
I have mutually beneficial relationships with strategic partners such as an estate planning attorneys and CPAs in order to help the clients with overall planning, not just investments.
Yes
No
Ops Number
As any top advisor will tell you, a brand is MUCH more than a logo and a company name. It’s an experience. What experience does your brand provide?
We are well-known in our community.
Yes
Occasionally people say they’ve heard of us before
No
Our collateral material is high end and is consistent with our brand.
Yes
We don’t have many branding materials
No
My website looks great AND helps us generate new leads.
Our website gives us consistent leads
I love my website, but it rarely generates leads
Our website is cookie cutter and needs redoing
My clients understand our vision and view us as community advocates and difference makers, not just a financial company.
Yes
No
We are simply a financial advisory firm
Our client retention rate is:
100%
95% +
80-95%
Below 80%
We have a client portal where all client statements, reports and documents are stored and our clients love it.
Yes
No
When people come into the office for the first-time, they often rave about how nice it is.
Yes
We get good feedback, but they don’t rave
No
My team follows a process that has us proactively staying in touch with our clients (newsletters, emails, personal calls, events).
Yes, all of the above
Yes, but we could add some additional touches
We are more reactive, but always help customers as needed
No
I proactively introduce my team to my clients’ beneficiaries.
Yes
Very Rarely
No
My team often participates in random acts of kindness with our clients.
Yes
Occasionally
No
My business not only sustains itself when I am out of the office for long periods of time, but it also grows.
Yes
It sustains, but doesn’t grow
It sustains for short periods of time
No
My team very rarely needs to be managed. I play more of an active role as a leader to them
Yes
No
My team enjoys working here and often refers new employees.
Yes
No
I am intentional about building a business that is not dependent on me for growth.
This is my mission and it’s working
This is what I wish for, but it isn’t my reality
This is what I’ve always wanted, but is something that I no longer believe is possible
I wish for this, but it’s too late for this to happen
I know what the biggest challenges are to going elite.
Yes
No
What are the one-to-two things holding you back from becoming an elite advisor (fill in the blank)?
The biggest challenges in my business are (check all that apply):
Time – there isn’t enough
Time — I spend too much time doing things that aren’t high value activities
I have a hard time hiring good people
My team doesn’t care about the business as much as I do
I don’t have the marketing processes to get us where we want to go
I don’t have the capital needed to grow
I need a coach or a peer group to learn from in order to go to the next level
Select All
Branding Total
Hidden
Total Number
