Forming Your Foundation

Submitted by john.warren on February 14, 2020

Hi, I'm Natalie Straub with Schwab Advisor Services. At Schwab, we're passionate about helping independent advisory firms achieve their goals, so we've built the Virtual Practice Management Forming Your Foundation programs specifically for advisors. Throughout these two programs you will embark on work that will set you on a course for growth, helping to maximize your client experience and attract more ideal clients. That's the type of client that best fits your firm.

According to our RIA Benchmarking Study, firms who have documented their ideal client persona, as well as their client value proposition attract 26% more clients and 41% more new assets than firms without this focus. This is an incredible proof point.

This focus will also influence key decisions across the firm, like how to build a strategic plan, evolve the client experience, market the business, and create a referral culture. An ideal client persona is a vivid and specific picture of your firm's ideal client. It enables you to uncover what clients really want and obtain a deep understanding of how you provide value to those clients. Then, successful firms communicate that value through the eyes of their ideal client.

That's the client value proposition. A strong client value proposition can help you attract more ideal clients to your firm and differentiate you from your competitors. And this is where the Forming Your Foundation programs come in.

Forming Your Foundation is a set of two programs that guide you through the complexities of growing your firm and creating an enduring enterprise by attentively focusing on your ideal client and communicating your value.

During the first program, Ideal Client Persona, you will learn how to create a strong ideal client persona and then discover ways to activate this tool within your firm.

In the second program, Client Value Proposition, you will leverage your ideal client persona to craft your client value proposition and then customize your firm's action plan in order to reach more ideal clients.

I hope you decide to join us for the Forming Your Foundation programs. By taking time to focus on your business we know you will uncover powerful opportunities that lead to meaningful change.


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