A Typical Financial Advisor Business Plan

5138 words 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,
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In both of these contexts, superior customer service, sound advice and an advisory relationship are valued features not easily copied by competitors.

The core of any successful wealth management offering is the relationship developed between the advisor and the client. Successful advisors develop a relationship with clients by demonstrating that the clients’ interests are the advisor’s paramount concern. In the context of an advisory relationship, the wealth management firm works with the client to develop, implement and monitor a comprehensive wealth management strategy.

To win new customers and retain existing ones, as a wealth management advisor, I must be perceived as competent, dependable and empathetic. Clients must also perceive that they are paying a justified price for the value that they are receiving. Client opinion is formed through a combination of personal experience, word of mouth and marketing. To compete effectively, the wealth management advisor must have a brand like Merrill Lynch that is firmly associated with the qualities demanded of a wealth management institution.

Another major component of successful wealth management is the human touch. Clients respond to charismatic guidance and a high level of attention; they feel valued when their questions are addressed promptly and personally. I have a passion for the financial markets and an overall


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