Here’s a quick master class on radically differentiating yourself from everyone else your potential clients could hire. Mastery is the greatest differentiator in most service businesses, so let’s walk-through what that means so you can candidly assess yourself. I’m in the retail Financial Advisory business, so I’m going to stick with what I know. The question is, when delivering Truly Comprehensive Financial Services, are you delivering at a level that clients would describe as “mastery?” That’s the business I know and that’s the business I have data to support. In the interest of time, let’s start with a quick measurement that eliminates most professionals. The outcome of mastery is always the same, if you’re delivering at mastery level, your client satisfaction will be extraordinary. The best, and most direct, measure of client satisfaction is your annual client referral rate. First add up all the referrals you’ve received from your clients over the past 12-months, then divide by your total number of clients. If you’re receiving more than 1 referral per client per year, on average, you’re on-track to mastery. If your clients are receiving “mastery level” service from you, the average annual client referral rate is always more than 1, even though a minority of clients actually provide referrals. We frequently see numbers exceeding 5, so if you’re currently receiving less than 1 referral per client per year, you may be great, but not mastery level. If you’re consistently exceeding your clients’ expectations, they certainly know it and will reward you with increasing referrals. Other issues on which client data reflects you’re at the mastery level involve leadership. In financial services industry, affluent successful clients have many financial people in their lives. Tax accountants, Estate Planning lawyers, Money Managers, risk managers and insurance agents, et al. All are Financial Advisors of some sort. If you’re at the mastery level, then your clients view you as their “Most Trusted Advisor.” So, you can assess whether or not that’s accurate. Do you know all the other advisors to your client? How often do you speak with them per year, coordinating the financial affairs for this client? Do you share the notes from your interactions with all the Financial Advisors who work with that client? Do the other advisors view you as a leader who aligns all the strategies? If this hasn’t been happening, have you offered this leadership service to your client? If nobody on your client’s team of Financial Advisors has stepped-up and offered to coordinate all the financial products and financial people, then there’s an obvious gap. A master would not allow a canyon-sized gap like that, offering to fill the gap for a fee. Having the skill and experience to coordinate your client’s team of Financial Advisors displays mastery. Pair that with your ability and willingness to make life easier for your client, you’re now indispensable.
Mastery as Marketing

About Mark McKenna Little
Mark Little is the ‘regular guy’ Financial Advisor whose unconventional approach to financial services acquired 1,242 clients.
Then in just 34 months he rebuilt his business from the ground up, shattering international records and boosting revenue by 412%
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