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Supernova has three primary goals:

1. Increase the focus on the practice.
2. Bring balance to the FAs/CSAs life.
3. Significantly grow the practice.

In order to accomplish those goals, the FA must segment their practice.  What that means is they have to reduce the number of clients.  When an FA segments, everyone wins.

• The clients who are staying win because they get more proactive time from their FA.  Whether FAs want to accept it or not, clients want to hear from their advisor.  The number one driver of client satisfaction is proactive FA contact.
• The FA wins because they are in control of their day, just like an attorney or physician.  The FA has more time to think.  The FA doesn’t go home after work feeling they “didn’t get it all done”.

The third group who should win is the clients who should be reassigned.  When I work with FAs in getting their practice down to a manageable core, I continually hear this comment when referring to the smaller relationships – “Aw, they don’t take any time”.  Think about that statement.   You are saying you don’t spend any time with these people.  You are saying that some clients in your practice get your best but others don’t!  That isn’t how FAs feel but that in essence is what is happening.

When a client, no matter what size, is a part of your practice do they have the right to think you are managing their financial future on a proactive basis?  I think so.

So, when you are struggling with decisions around reassigning smaller relationships, always keep in mind that every client deserves to be in someone’s “A” book.

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