The ultimate secret to wealth management success? It all comes down to consistency and people. That’s according to Rick Fisher, managing partner and CEO of Fisher Wealth Management. He believes that whether investment markets are at your back or in your face, you do those activities consistently – and with a great team behind you.
“We’ve consistently tried to have good client community meetings, client communication, client touches,” he explains. “Consistency builds momentum. This is a contact sport. I believe that we've done a decent job of that level of consistency, both with the clients that we serve but also in marketing activities to help us encourage growth.”
However, Fisher freely admits it took time to fully grasp the value of having the right team.
"I feel like we've done a good job," he concedes, noting that realizing the impact of excellent personnel on both client and business life was a slow process.
“If we're going to serve more people, it takes excellent people on our team to do so," he says. “Most, if not all, of the men and women that give advice in this office really want to grow. And when it comes to the team, most of them will tell me they prefer that we're growing. Growing and hiring is better than shrinking and firing."
As for marketing efforts at Fisher Wealth Management, they’re a mix of firm-level initiatives and individual strategies. The firm promotes its brand through advertising, social media, and educational classes, while individual advisors focus on community involvement and relationship building.
"We have stuff that's done at the firm level," he says, "and then at the representative level, it's more about community involvement, prospecting, building relationships with key referral centers."
Navigating regulatory challenges is another area where Fisher Wealth Management acknowledges is a challenge given the increased time and cost of compliance. Yet, he sees a silver lining in the demand for financial advice.
“The truth is, there's so much opportunity in our industry right now. The demand for our advice and what we do has never been so great. Really good, client-centered, focused, conflict-free advice has been the north star of this firm since its inception. If there's any art to this business, it is trying to marry the right solutions to the right human beings.”
With a team of 15, Fisher values each individual’s contribution.
"Every person is important," he insists. "Trying to recognize those players, and if you can replace someone that you're having to pull up with another one that's going to help lift you and the team up, it can be life-changing for your company."
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