Articles Published in August, 2011

The Most Important Word in Business

Wednesday, August 31st, 2011

When I give a presentation, I often start out by asking the audience the following question: “If you had to choose one word that is critical to the success of a business, what would that word be?” Typically, people will respond with words such as “motivation”, “planning” or “innovation”. Obviously, all of these words are […]


On Trust and Touch (Dan Ariely)

Wednesday, August 31st, 2011

by Dan Ariely, Professor of Behavioural Economics at Duke University, and author of the bestselling book, ‘Predictably Irrational.’ Recent research (1) shows how physical contact can promote trust, even among complete strangers. Paul Zak, a neuroeconomist at Claremont Graduate University (together with Vera Morhenn, Jang Woo Park, and Elisabeth Piper), studies the links between levels […]


The New Reality for Effective Client Communication

Wednesday, August 31st, 2011

My column this month in Investment Executive dealt with a major change in what it takes to communicate effectively with a growing number of existing and prospective clients – and in particular focuses on the growing importance of video based communication. In understanding the need to change our thinking on communication, it’s important to look […]


The Best Way to Start Client Meetings Today

Wednesday, August 31st, 2011

Last week’s article set out some guidelines for effective client meetings; among them the suggestion to adopt Stephen Covey’s precept “Seek to understand before seeking to be understood.” Meetings today have a number of objectives; to calm nerves, reassure them about their portfolio and instil confidence that they’re working with the right advisor. To help […]


The Destructive Power of Financial Markets

Wednesday, August 24th, 2011

via Spiegel Online Speculators are betting against the euro, banks are taking incalculable risks and the markets are in turmoil. Three years after the Lehman Brothers bankruptcy, the financial industry has become a threat to the global economy again. Governments missed the chance to regulate the industry, and another crash is just a matter of […]


The Importance of Personal Connections

Wednesday, August 24th, 2011

Over the past few months, we’ve all read about “the new frugality” that has become part of our culture.As a result, many consumers have been rethinking their spending – with some surprising insights about the importance of personal connections in tough times. A recent Wall Street Journal article described the impact of personal connections on decision making. […]


A Proven Way to Boost Your Response From Prospects

Wednesday, August 24th, 2011

At a recent workshop, I was asked about whether advisors are more likely to get a response from prospects by leaving a voice mail or by sending an email. There are merits to both. Email is easy to send and easy for prospects to respond to … but also easy to ignore. Voice mail does […]


Giving Back and Paying Forward

Wednesday, August 24th, 2011

The following is based on one of Norm Trainor’s clients, Walton Rogers. What does it mean to be in the top 1% of your profession? For members of the Million Dollar Round Table (MDRT), it means that you are not only recognized as having reached the pinnacle of success in your profession, but also, that […]


Is Your Focus Narrow or Broad?

Wednesday, August 24th, 2011

In defining your business, there are a number of decisions you have to make in order to appropriately position what you offer. You can choose to have a narrow or broad focus to your business. By choosing a narrow focus, you have opted to specialize. A financial advisor may choose to focus on a specialty […]


Why Investors are ”Mad as Hell” … and What You Can Do About It

Wednesday, August 24th, 2011

Last Friday, Jason Zweig of the Wall Street Journal Street Journal wrote about fear and anger as the two dominant attitudes of American investors today; fear about their future and anger at those they see as responsible for the latest crisis. His column depicts many investors as intensely disillusioned, summoning up the phrase “I’m mad […]