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Feb 19, 2018


Value Proposition and the Confident Advisor Practice Scorecard


Confident Advisor Practice by Bill Bush with Brother Pete and Chris Sullivan

-Podcast Show Notes-



Today on the Confident Advisor Practice from the Horizon Advisor Network, host Bill Bush, Brother Pete and Chris Sullivan of the Horizon Financial Group continue discussing the Confident Advisor Practice scorecard for rating financial advisors and – with a focus on value proposition. They address the 1-3 category that deals with advisors that target anyone with money to invest. The 4-6 category highlights advisors that do anything to get any client. There is the 7-9 category, which is when more than one niche has been refined and the advisor has solidified their reputation. Finally, there is the 10-12 category that addresses creating a unique and specific client experience.



Time Stamped Show Notes:

  • 00:27 – Bill Bush, Brother Pete, and Chris Sullivan introduce the show
  • 01:00 – Confident Advisor Practice scorecard with 8 categories for financial advisors to rate themselves – with a focus on value proposition
  • 01:20 – Value Proposition explained, packaging the abilities and benefits you can offer and sharing them with others, what we do to help others
  • 02:57 – Scorecard 1-3: Advisors that target anyone with money/casting a wide net, seeing value as picking investments without financial planning, selling third-party money management
  • 04:15 – Not all relationships are what they are cracked up to be
  • 04:43 – If your value proposition is only making investment recommendations with people with money then it is not enough of a niche for who you can be valuable to
  • 05:39 – Scorecard 4-6: Without serving a defined niche, doing one-off projects for clients/whatever it takes to get their business, have a unique story about your value
  • 07:28 – Scorecard 7-9: Proficiency in one or more client niches, developed your story that is easy to share with others, your reputation and abilities are your brand and your value proposition
  • 11:40 – Define the niche ahead of time brings the right conversation leading to the right clients
  • 12:15 – Scorecard 10-12: Created a unique client experience that clients can easily share with others, other deepening levels of engagement with clients, and offers from a team with diverse niche experiences
  • 13:21 – Narrowed down the people you are messaging to the point that you have created not just a suite of services – you’ve elevated it to an experience beyond asset management
  • 15:03 – Focusing your value is the opposite of what most advisors do: they tend to list every single service possible to stuff keywords on their website to be found in a Google search – even if they outsource them or never have done them but think they could
  • 15:34 – Steps an advisor takes to reach the 10-12 level of value proposition:

o      15:51 – Profile your existing clients, who are those people

o      16:02 – Become an expert in that niche

o      16:14 – Build that process and then take that process to market

  • 16:32 – A firm has two types of clients: A Clients: require a team to take care of them and B Clients: can be handled by one person
  • 17:13 – Difference between 7-9 and 10-12: more A Clients in the 10-12
  • 18:14 – Clients that require a team may not focus on one advisor
  • 19:15 – Reaching 10-12 are more likely to talk to their friends about it
  • 19:46 – Next Scorecard topic in the next episode will be Business Development
  • 20:05 – The closing credits


3 Key Points:

  1. Value proposition is making your abilities easily understood to share with clients.
  2. Defining your particular niche for financial advisement ahead of time brings the right conversation leading to the right clients.
  3. A Clients: require a team to take care of them. B Clients: can be handled by one person.


Tweetable Quotes:

-    “Once you figure out what you are wired to do, it becomes about sharing that message with others.” – Chris Sullivan.

-    “Let’s just face it, in this business, and in anything we do in life, we are always selling something.” – Bill  Bush.

-    “Make it easy for people to tell your story.” – Chris Sullivan.

-   “It’s a matter of defining exactly who you want to work with, what you enjoy doing, and how you best go tell that story.” – Chris Sullivan.



Resources Mentioned: