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The New Advisor for Life
by Stephen D. Gresham
Practical Advice for
Succeeding in the Wealth Management Arena


The New Managed Account Solutions Handbook
by Stephen D. Gresham &
Arlen S. Oransky

New Edition of the definitive reference guide for wealth managers.
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The NEw Advisor for Life

Practical Advice for Succeeding in the Wealth Management Arena
by Stephen D. Gresham

The culmination of a two year research-based “random walk” around the financial advice industry, Advisor for Life seeks to provide financial advisors, investment product managers and industry executives with insight into the relationship between top advisors and millionaire households. Interviews and firsthand observations comprise the bulk of the research, which is supplemented by additional marketplace data from several sources. The project’s goal was to first identify those products and services most valued by high-net-worth households and then seek different strategies for addressing those requirements. This client-based approach to advisory best practices provides a more complete view of the potential for success among a wide variety of advisors. No matter your approach to the market, there is something in here for you.
Consistency is the book’s major theme since, in the process of researching and writing Advisor for Life, it became clear that the very best advisors: 

•  Know what their clients will pay for (Chapter One – The Value of Advice)
•  Have developed a compelling Investment Philosophy (Chapter Two)
•  Utilize a defined and effective Investment Process (Chapter Three)
 Help clients set realistic goals (Chapter Four)
•  Define and minimize “risk” in both financial market and real-life terms
   (Chapter Five)
•  Understand the importance of diversification and how to educate clients
    as well (Chapter Six)
 Employ alternative investments to ordinary stocks and bonds (Chapter Seven)
•  Know how to help their clients manage their dreams and fears (Chapter Eight)
 Facilitate the growth of a client’s household over time (Chapter Nine)
 Understand the family dynamic and all of its challenges (Chapter Ten)
•  Appreciate the changing role of wealth throughout a lifetime (Chapter Eleven)
•  Know how to articulate their Unique Value (Chapter Twelve)
•  Can quantify their Unique Value to clients and prospective clients (Chapter Thirteen)
•  Have built a meaningful and consistent Client Experience (Chapter Fourteen) 
•  Drive referrals with service and attention to several points of contact
   (Chapter Fifteen)
•  Sell themselves effectively vs. their competitors (Chapter Sixteen) 
•  Manage their practices to maximize both current income and long-term
   value (Chapter Seventeen)
 Maintain a reasonable balance between education, work, leisure and
   family time (Chapter Eighteen – Taking Care of Number One)

Tools and Tactics
Sprinkled throughout Advisor for Life are anecdotes from top advisors and tools for improving the client experience. Many top advisors gave generously of their time and I am indebted to them for their insights and their candor. The tools include market-tested diagrams and questionnaires to help millionaire clients better understand the wealth management arena and help advisors become more consistent in the delivery of their best ideas.
If you have a moment, please consider also the Introduction, in which I challenge us all to consider the forces at work within and around the advice industry and to take on those challenges in order to provide better, more consistent client solutions. Our future – and that of the clients – depends on our success.
I welcome your comments.
Thank you for taking the time to consider Advisor for Life.

Published by John Wiley & Sons, Inc.
Order: "Advisor for Life"

by Stephen D. Gresham

Includes the following chapters:
Foreword by
      Christopher Davis, President of the Money Management Institute

Chapter One: The Evolution of Managed Accounts

The managed account industry began amidst pension reform and has grown in response to investors’ demands for a consistent process to manage their investments.

Chapter Two: The Revolution of Unified Managed Accounts

Unified managed accounts, or UMAs, evolved as investors sought greater diversity among their investments and demanded a platform that could incorporate fixed-income components, exchange-traded funds and other instruments.

Chapter Three: The Wrap Account Option

 Mutual fund wrap accounts enable the financial advisor to leverage the potential of multiple mutual funds in a single client account. Here’s how to tell which clients are best served by managed accounts and which are best served by wrap accounts.

Chapter Four: Alternative Investments

The incorporation of alternative investments will offer clients greater diversification with assets whose performance is not often directly correlated to movement of capital markets. What exactly are they and how can you use them effectively?

Chapter Five: The Key Benefits of Managed Accounts and Recurring Revenues

Managed account solutions allow for a more efficient use of the advisor’s time, access to a more affluent clientele, a consistent revenue stream leveraged by the market’s growth and a more valuable business entity—plus clients prefer fees over commissions.

Chapter Six: How to Tell if Managed Account Solutions Are Right for Your Practice

Are managed account solutions right for your practice? Here are ways to evaluate your potential for success.

Chapter Seven: Transforming Your Practice into a Wealth Management Business

Wealth managers who’ve made the transition from erratic, commission-driven income to consistent fee-driven revenues explain how they handled the transition and what other advisors can learn from their experiences.

Chapter Eight: Developing Your Managed Account Solutions Business

Referrals from current clients and fellow professionals can bring prospects to your door but you must know how to ask for referrals, have materials on hand to promote your practice and know how to determine which prospects are best avoided.

Chapter Nine: Positioning Yourself as a Solutions Provider

By cultivating mutually beneficial relationships with service providers, allied professionals and the media, you can develop a steady stream of referrals to help grow your business.

Chapter Ten: Attracting and Retaining Clients

Five strategies for capturing additional assets from your managed account clients.

Chapter Eleven: Building on Your Success

Techniques for establishing yourself as an expert source in managed account solutions and cultivating mutually beneficial relationships with investment companies and other financial services professionals.

Chapter Twelve: The Future of Managed Accounts

Industry leaders present their vision of what the future holds for the managed account solutions industry.

Resource Guide
Sample business plans, investment policy statements, manager evaluation formulas, and sample seminar invitations.

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Attract and Retain the Affluent Investor

Winning Tactics for Today's Financial Advisor
by Stephen D. Gresham & Evan Cooper

Are you prospering from those millionaires next door? Despite the growth of online investing, most affluent investors manage their financial assets with the help of an advisor - be it a stock broker, financial planner, accountant, or attorney. And while many advisors target this burgeoning affluent market, most harbor concerns about their ability to compete in the future.
In Attract and Retain the Affluent Investor, Steve Gresham, an expert in marketing financial services to the affluent, and Evan Cooper, a respected financial journalist, show you how to increase your revenue and earnings by building an affluent client base. Along the way, they address your most pressing questions.

Order: "Attract and Retain the Affluent Investor"



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