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The Practice Checkup


The Education System involves using tools, resources, and media to stay sharp on financial services matters, to anticipate new sales and marketing opportunities, and to be an advocate for clients.

An Advisor’s education system begins with basic licensing and product knowledge, usually under a formalized process in the Formative and Developing Lifecycle stages.   In the Emerging stage and on into the Mature stage, the burden of ongoing education falls more and more onto industry and personal resources.

There are many aspects to the Education system as it evolves with the Advisor. The most common denominators of professional accomplishment are acquiring one’s designations (CLU, CFP, ChFC and so forth) and membership in the Million Dollar Round Table (MDRT). 

Which designations to pursue? How close to the Top of the Table is achievable?  The answers to these questions will be highly individual to each Advisor.

There are many other educational opportunities. Among them:

  • Study groups of all shapes and sizes, disciplines and locations, lifecycle stages and ages. These groups facilitate the free exchange of marketing ideas and knowledge in a safe environment.
  • Joint work can provide an excellent learning and earning experience.  Finding the right match can be challenging but worth the effort.
  • Mentoring and being mentored offer experience as the teachers and can be the secret to business practice continuity for the Prime Performer.
  • Media to which the Advisor is exposed. Newspapers, magazines, TV, radio, books, websites, and business chat-rooms can influence how cases are developed and the next great sales ideas are uncovered.
  • Continuing education for licenses and designations can be a good source of learning.

How the Advisor educates his or her staff is also important. Basic training systems are necessary. Ensuring that steps are in place for personal and professional growth of assistants and office support people is a key to the growth of the practice overall. 

Staying sharp on the vital issues of the financial services business is a true hallmark of a successful Prime Performer.