virtual practice management for financial advisors podcast

Virtual Practice Management for Financial Advisors – The Advisor Lab

Practice management for financial advisors is and always will be the process of equipping financial advisors with the tools and processes required to not only run an advisory business, but more importantly achieve optimal results now and in the future.

Enter COVID-19, where brick and mortar advisors are left dead in their tracks without an effective way to build or run their practice.

Why? Because financial advisors are still stuck in, as well as being taught the outdated traditional methods of 1985 (with a minor software update here and there).

virtual practice management for advisors here to stay advisor lab

Is Virtual Practice Management for Financial Advisors here to stay?

Derek recently featured on the Advisor Lab podcast by the Seven Group and explored the future of practice management for financial advisors. The podcast explores how Derek runs his practice, how he manages it completely remotely, as well as how he uses digital marketing to connect and engage prospects.

Listen to the podcast below

Long Term vs Short Term Financial Practice Management

The truth is that the days of cold calling, being a prospecting pirate, and focussing on short term sales are gone. Now more than ever, short term prospecting produces an eat what you kill environment that is really stressful – it just isn’t sustainable anymore.

Advisors need to shift their attention from the sale to their audience. Building a brand over time and providing genuine value to clients at multiple online touch points will result in your brand working for you over time. When your brand works for you, you’ll see an influx of more clients. The secret to virtual practice management? Relationships, relationships, relationships!

With this in mind, Derek has created a Virtual Advisor System that operates as an inbound client acquisition model for building a robust digital footprint.

Practice Management for Financial Advisors Using a Robust Digital Footprint

The Virtual Advisor System has made practice management easy for advisors by making the pillars of inbound client acquisition accessible in the form of valuable course content and more. These practical pillars include:

  • Social Media Marketing & Management.
  • Hosting Live Virtual Seminars.
  • Website Build and Optimisation.
  • Email Marketing.
  • Paid Advertising.
  • Referral Partners.

If you want to learn more about how the Virtual Advisor System can work for you, then we recommend getting started with our free e-book.