Ineffective Habits of Financial Advisors (and the Disciplines to Break Them): A Framework for Avoiding the Mistakes Everyone Else Makes


Praise for Ineffective Habits of Financial Advisors (and the Disciplines to Break Them): A Framework for Avoiding the Mistakes Everyone Else Makes

"When Steve Moore talks about exceptional client experiences, his passion and purpose are inspiring. This engaging book provides a comprehensive playbook for a process that consistently delivers measurable results. Whether you're starting in the investment business or trying to take your practice to the next level, you have to read this book."
Cliff Russell, Vice President, Investment Advisor, TD Waterhouse Private Client Services, Saskatoon, Saskatchewan, Canada

"I was angry with Steve the first day I met him because he made me confront the way I'd been doing things for fifteen years. Six years later, I can say it was exactly what I needed. Steve's insight and guidance have transformed the lives of my clients, family, and team. I will be forever grateful to Steve and the insight he offers in this transformational book."
Keith P. Spengel, CLU, CLTC, Wealth Management Advisor, Spengel Financial,Chicago, Illinois, USA

"My company, The Savant Group, reached the billion dollar milestone on 9/30/2007, thanks in part to the tough advice Steve Moore provided us over the years. There are no excuses with Steve. He tells it like it is and, if you do what he says, amazingly the results come. Change is difficult for everyone, but based on Steve's commonsense approach, we found it necessary to get out of our 'comfort zone' and do the things he recommended. You should follow his advice; I pity you if you don't."
Tom Burkhart, founder and CEO, The Savant Group, San Francisco, California, USA

"Working with Steve Moore over the last decade has created a fundamental shift, and improvement, in the way we do business. This book distills the wisdom Steve has gained from football, some 750+ consulting clients, and life into actionable steps that will improve your results—however you choose to define those results. Steve's clients get results. If you cannot hire him, read this book, follow its guidance, and you will achieve more—of whatever it is you want—than if you go it alone. To me, most business books have one or two good ideas stretched into book length. There is no wasted space here; the reader simply must respond to every idea, practice, and concept. If you disagree with what Steve says, you'd better be thinking deeply of the reasons why you don't want to follow his precepts."
Russell T. Hill, President/CEO , Halbert Hargrove, Fiduciary Investment Management, Long Beach, California, USA

Steve Moore is a leading management consultant, mentor, and coach. Moore developed High Speed Strategic Planning, a year-long coaching program for advisors, which has helped more than 750 wealth management teams achieve their business goals. Moore's strategic planning expertise began as a football coach. He spent more than a decade in the NFL (Buffalo Bills, Seattle Seahawks, and Los Angeles Rams). He also has significant strategic consulting experience with Microsoft, Toyota, and many other prominent companies. Steve is the former managing director and chief operating officer of the Pacific Institute, an international corporation specializing in performance improvement, professional growth, change management, and leadership development. He holds a masters in education from Seattle University.

Gary Brooks, CFP, is the President of Brooks, Hughes & Jones, a Registered Investment Adviser, and a financial columnist for The News Tribune in Tacoma, Washington.



Setting the Stage.

Business Disciplines.

The 7 Ineffective Habits and the Disciplines to Break Them.

The Framework of the Book.





1 Stop Living Their Dream and Start Living Your Dream.

The 1st Ineffective Habit: Living Their Dream.


PURPOSE: The Primary Reason for the Work you do.

Business Goals: Specific Objectives that Support your Purpose.

Guiding Principles: The Rules that Guide Daily Decision Making.

Vivid Description: A Narrative of the Business Success You Intend to Create.

The Charle Young Story.


Determing Your Purpose.

Determining Your Business Goals.

Determining Your Guiding Prinicples.

Determining a Vivid Description.

Determing How You Plan to Keep the Dream Alive.


Chapter Summary.

2 Stop Focusing on Quantity of Clients and Start Focusing on Quality of Clients.

The 2nd Ineffective Habit: Focusing on Quantity of Clients.


Target Market.

Service Focus.

Competitive Differentiation.


The Common Sense Principle.


Chapter Summary.

3 Stop Hoarding Unprofitable Clients and Start Disengaging Unprofitable Clients.

The 3rd Ineffective Habit: Hoarding Unprofitable Clients.


Segment 1—The 20 to 40 Percent That Represents 1 Percent of Revenue.

Segments 2 and 3—Others you are Considering for Disengagement.



Chapter Summary.

Stop Hoarding Unprofitable Clients and Start Disengaging Unprofitable Clients.

4 Stop Providing Only Investment Advice and Start Providing Wealth Management Advice.

The 4th Ineffective Habit: Providing Only Investment Advice.


Start Providing your Top 20 Percent with Wealth Management Advice.

Step 5: Present the Wealth Management Solution—The Financial Vision Document and Client Engagement Roadmap.



Chapter Summary.

5 Stop Delivering Only Investment Reviews and Start Delivering WOW Wealth Management Reviews.

The 5th Ineffective Habit: Delivering Only Investment Reviews.


Client Needs Analysis.

Client Satisfaction Window.

Building the WOW Review System.


WOW Wealth Management Review Package.


Chapter Summary.

6 Stop the Rainmaker Approach and Start the Team Approach.

The 6th Ineffective Habit: The Rainmaker Approach.


Team Core Competency Audit.

Team Development Evaluation.

Team Alignment and Empowerment Evaluation.

Internal Challenges.

The Organizational Structure of the Team Approach.

Role Clarity.

Managing the Team Approach.

Coaching the Team.

The Acquisition of Talent.

Team Incentive Compensation.

Create a Best-of-Kind Team of Experts and Suppliers.



Chapter Summary.

7 Stop Selling to Prospects and Start Selling Through Clients.

The 7th Ineffective Habit: Selling to Prospects.


Client Introductory Event.

Center-of-Influence Marketing.

Managing the Sales Pipeline.

Qualify a Call-in Lead.

Fact Finding, Planning, Solutions.



Chapter Summary.

8 Jack's Awakening: An Elite Wealth Management Company.


About the Authors.