In this week’s episode, Angie Herbers of Herbers & Company joins On the Circuit to discuss the challenges of organic growth for financial professionals.
In today’s podcast, Angie Herbers discusses the process of selecting the right consultant for financial advisory firms. She categorizes experts into three groups: specialists (who focus on a specific area like marketing or management training), coaches (who work on changing executive team behavior),and consultants like Herbers & Company (who look at the business as a whole and offer holistic solutions).
“We look at the whole organization, determine where the issue is or the opportunity is and then we come up with a solution that fits the business and helps the business grow,” she says.
Herbers emphasizes the importance of understanding the real problem before implementing any solution. She also discusses the challenges of organic growth and how advisors often get it backward by focusing on marketing first instead of hiring talent and serving existing clients.
“Great organic growth starts with the clients, goes to the employees, and then ends at the prospects – it doesn’t begin with the prospects,” Herbers explains.
Finally, she encourages advisory firms to expand their target markets beyond high net worth and ultra-high net worth clients to make financial advice more accessible to a broader audience.
“Today, the largest market is the mass affluent, particularly the do-it-yourself advisor. So if any advisory firm wants to gain an edge, they need to do consumer research. They need to understand the bigger target markets that are out there, and they need to understand the services that those target markets really want,” she says, adding: “We can serve any consumer regardless of what they bring to the table.”
Hit “Play” to listen to the full episode, and be sure to check out our other On the Circuit episodes!
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