A Typical Financial Advisor Business Plan

5134 Words Jan 21st, 2013 21 Pages
Typical Business Plan for a Financial Advisor

A.) Executive Summary:

The role of the wealth manager is not to simply sell a financial product to a prospect. Instead, a wealth manager’s first concern is developing a comprehensive understanding of the client, a client-centric approach to providing financial solutions. Next the wealth manager must match the right solutions to the client’s needs and desires and ensure he or she receives an exceptional service experience. After that, product and service sales opportunities will naturally follow. Making the transition is clearly a trade-off between short-term results and long-term success. Financial security through goals-based wealth management. As a wealth manager with Merrill Lynch,
…show more content…
Five competencies, five chances to differentiate:

Provide customized financial planning advice to meet your needs in areas including cash flow management, tax efficiency, asset protection, superannuation and retirement planning, insurance, risk management and estate planning. Manage and administer individual investment portfolios according to individual client risk tolerances, preferences and directions. Protect and grow client's wealth by utilizing the best available and independently researched investment opportunities. Ensure no investment opportunities are missed, tax implications are addressed, and fees and costs are minimized Monitor investments closely on an ongoing basis. Obtain investment returns comfortably above market ( to at least cover management costs). Provide timely and accurate recording and reporting. To deliver caring, attentive and personalized service a Merrill Lynch Wealth Management Advisor must balance the customer value proposition with profitability, delivering the right offering to the right client segment at the right price.

a. Why should they do business with you?

Customers see their personal wealth management strategy as a lifelong endeavor that influences every financial and practical decision

More about A Typical Financial Advisor Business Plan