What Would Your Competitors Say About Your Firm?

What Would Your Competitors Say About Your FirmTaking an Introspective Look to Improve

Everyone is always so busy analyzing the competition trying to find an edge, but how often do you take a step back to look at your own performance as an investment advisor? By taking the point of view of a competitor, looking for weaknesses in your business (in order to get your clients to jump ship), you can pinpoint your own vulnerabilities and take action to improve upon and correct them. In the ruthless, cut-throat world of stock brokers, there will always be other investment advisors trying to steal your clients from you, so it is imperative you are always seeking new ways to improve your performance and retain clients. Here are few things to think about when taking a look in the mirror:


When it comes down to it, people hire brokers for one reason- to make money. Therefore, the biggest threat to holding on to clients, is poor performance. If you are not on top of market trends or don’t identify emerging hot stocks in time to help your clients profit, then nothing else really matters. You have to fix your numbers before you try to improve in any other areas.

Staying in Touch With Your Clients

How often do you speak with your clients? The financial sector is an extremely busy place, yet, you can’t get so caught up in watching your stocks and prospecting for new clients that you neglect your existing ones. The more you keep in contact with your clients and make them feel valued, the less likely they are to be pulled away from you by a rival investment advisor.


It can be hard to get clients to understand the necessity of acting quickly, in order to take advantage of a situation in time. You cannot, however, let this sense of urgency outweigh your duty to be honest with them about what they are putting their money into. Downplaying the risk level of an investment is one of the quickest ways to lose a client’s trust, which then makes it extremely easy for them to be seduced by another investment advisor. If you are upfront with them about a deal’s chances and put out favorable returns, more often than not, they are far more likely to take a loss in stride.

Here at Summit Brokerage, we know keeping your clients satisfied is your top priority, so, keeping you satisfied and free to concentrate on them is ours. With one of the highest advisor retention rates in the industry, we are the perfect home for the determined, independent investments advisor.

For more information on Summit Brokerage Services, visit www.joinsummit.com or contact us at (800) 354-5528.

Summit Brokerage Services is part of Cetera Financial Group, RCS Capital Corporation’s (NYSE: RCAP) retail investment advice platform.

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