WP Ceg The Right Coach

The Right
Coach
A Guide for
Financial
Advisors
John J. Bowen Jr.,
Paul Brunswick and
Jonathan J. Powell
THE RIGHT COACH
Table of Contents
Introduction. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3
Coaching Defined. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8
The Coaching Potential . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12
The Coaching Mindset. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15
Key Attributes and Top Programs. . . . . . . . . . . . . . . . . . . . . . . . . . 21
The Right Coach. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27
Conclusion. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 32
About CEG Worldwide. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 34
About the Authors. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 35
The Right Coach: A Guide for Financial Advisors
By John J. Bowen Jr., Paul Brunswick and Jonathan J. Powell
Copyright 2012 CEG Worldwide, LLC. All rights reserved.
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can accept no responsibility for the accuracy or completeness of such information or for loss or damage caused
by any use thereof.

CEG Worldwide, LLC 1954 Hayes Lane San Martin, CA 95046

(888) 551-3824 www.cegworldwide.com info@cegworldwide.com
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A GUIDE FOR FINANCIAL ADVISORS
Introduction
T o the average financial advisor, the

financial services industry looks like it is in
competitive overdrive. The downward pressure
on fees remains relentless. Products continue
to grow ever more commoditized. More types of
financial advisors than ever before are offering
financial services and products.
Whats more, the deep economic, political and social ambiguity of
the last several years has left clients more confused than ever. Some
are unsure of whom to trust; others are simply dissatisfied with their
relationships with their financial advisors. As a result, many are highly
likely to switch financial advisors. This in turn makes the competitive
environment even more challenging for most financial advisors.
But for a select number of financial advisors, todays environment

offers abundant opportunities for substantial growth. They are
enjoying remarkable success, not just despite the current environment,
but in part because of it.
These highly successful financial advisors are more aware than

ever that the path to significant success is client satisfaction. They
understand that our industry is no longer firm-driven, where the
primary role of financial advisors was to sell their firms products.
Instead, they know that we are now client-driven, where the focus
of the most successful financial advisors is on serving their clients
extremely well. To do so, they marshal a variety of resources, including
investment firms, custodians, other financial professionals and,
perhaps most important of all, coaches.
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THE RIGHT COACH
Those financial advisors who succeed in consistently delighting their

clients enjoy a virtuous, self-affirming loop. As they serve their clients
very well, they are more likely to receive from those clients both
additional assets to manage and introductions to qualified prospects.
By providing outstanding service, it becomes relatively easier to move
upmarket to serve more-affluent clients. This enables them to serve
fewer clients even while earning higher incomes, setting the stage for
a higher quality of life for both the financial advisors and their teams.
In our work with these leading financial advisors, we see that client
satisfaction permeates every fiber of their businesses and informs
every decision. These critical elements must be in place:
1. A highly refined, replicable, consultative client management

process that fosters long-term relationships and ensures
satisfaction at every contact
2. A complete suite of services, products and expertise that

addresses not just investments, but the entire range of
financial concerns of the affluent
3. A marketing strategy that not only brings in additional clients

and assets, but that directly benefits existing clients
How are these financial advisors building this type of elite business? For
the most part, traditional training has largely been self-learning, such
as reading books, attending broker-dealer conferences or participating
in value-added marketing programs. Usually, such learning revolves
around the idea du jourthe latest marketing strategy to draw in
a particular type of client, for examplerather than taking a holistic
approach to the entire business. For some financial advisors, this type
of training is useful for making incremental progress in their practices.
But for many others, particularly those moving toward or working
at the top levels, this training is typically not useful for substantially
accelerating their success.
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More and more, these financial advisors are seeking alternative sources
of knowledge, insight and support. Many are turning to coaching,
with excellent results. In fact, many of our own coaching clients credit
the coaching experience with having turned their practices into the
businesses of their dreams.
Why is coaching proving to be so valuable to these financial advisors?

There are several reasons:
Coaches provide motivation, encouragement and advice on an
ongoing basis. This greatly enhances financial advisors ability

to successfully implement what they learn. In the same way
that working with a personal fitness trainer makes it more
likely that you will attain your fitness goals, working with a
coach makes it more likely that financial advisors will reach
their business and personal goals.
Coaching enables financial advisors to work far more effectively.
By focusing on specific actions that are proven to yield

significant results, coaching greatly enhances financial
advisors productivity around the activities that make the
biggest difference. In our work with our coaching clients,
we typically find that even though they are working on new
initiatives in their businesses, they are spending far less time
on the daily activities that previously diverted their focus. As a
result, their overall workload is reduced.
The coaching process is enjoyable. We find that virtually all the
financial advisors we work with enjoy learning and expanding

their horizons. As a result, they thrive in the coaching process
and are able to gain the most from what it has to offer.
Most important of all, coaching accelerates success. We see

financial advisors in our coaching programs accomplish in
two to three years what would have taken five years on their
own. Professionally, this is extremely valuable.
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As effective as we have seen coaching be in creating and accelerating

substantial success for financial advisors, we know that it still is not
right for everyone. The perfect candidates for coaching are financial
advisors who are just a bit frustrated because they know they are
capable of achieving more. They may be making a lot of money, but
they often are not particularly enjoying their lives. Their friends think
theyre very successful, but because these financial advisors see so
much untapped potential, they do not feel especially successful.
If you are one of these financial advisors, The Right Coach is for you. We
have written this guide to help you as you make the first steps toward
incorporating coaching into your future success.
As you contemplate engaging a coaching program, you no doubt have

questions. What does successful coaching really look like? How can it
help you and your business? Do you have the mindset that will enable
you to get the most out of a coaching program, and if so, how should
you choose a program? Perhaps most important of all, which program
is the optimal match for you, your practice and your goals?
Our aim with The Right Coach is to answer each of these questions so
that you can make an informed decision. Here is what we will cover:
In Coaching Defined, we will describe exactly what successful

coaching looks like, including the key goals it should enable
you to accomplish and how it should be implemented to
ensure that you actually achieve those goals.
In The Coaching Potential, we will set out the specific

improvements and refinements to your business that you
should expect to realize through the coaching process.
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The Coaching Mindset will help you understand whether

you are well-positioned to take full advantage of a coaching
program by identifying the principal traits of financial
advisors who are most successful with coaching.
In Key Attributes and Top Programs, we will outline the

most important criteria you should consider when selecting
a coaching program and provide overviews of the industrys
leading programs.
Finally, in The Right Coach, we will show you how to identify

the optimal coaching program that is best matched to your
specific needs and goals.
If you are ready to begin a journey that could very well transform your
business and your life, lets get started.
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THE RIGHT COACH
Coaching Defined
What does successful coaching look like?
I n recent years, both the demand for

coaching and the availability of coaching services
have rapidly expanded. Many financial advisors are
now familiar with coaching, and a growing number
are engaging coaches or coaching programs.
But despite this success, the field remains fragmented, with no
unifying set of standards or universally accepted approaches. The goals
of coaching are defined differently by different coaches, depending on
their own interests, skill sets and the needs of their clients. Some see
life enhancement as coachings primary goal, while others focus on the
development of specific skills or acquisition of technical knowledge.
There are often only blurry measurements, or no measurement at all,
of outcomes.
That said, many coaches and coaching programs do use one of two
major models. The first is co-active coaching. This model is founded
on the principle that all people, since they are creative and resourceful,
can find their own answers to the challenges they face, whether from
within themselves or from others. The primary role of the coach in
the co-active model is to ask astute questions that will help the client
to first uncover the vision of where he or she wants to go, and then to
identify the specific actions that will help the client reach those goals.
Co-active coaching is the traditional style that most people think
about when they think about coaching.
In contrast, results-based coaching holds that clients are more

effectively served by providing to them solutions and tools to
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accelerate success. While there is an element of self-discovery in

results-based coaching, its focus is primarily on imparting strategies
and best practices that the client can immediately implement.
Typically, this type of coaching is industry-specific and relies on the
industry knowledge, experience and sometimes research of the coach
or coaching program.
At CEG Worldwide, we are fully grounded in the school of results-based

coaching. This is not to say, however, that it is the optimal route for
everyone. Many people have been well-served by co-active coaching,
and depending on your own situation, it may be right for you.
Successful Coachings Three Primary Goals

As a results-based coaching organization, we believe that successful
coaching for financial advisors should have three clear, major goals:
1. Dramatically enhanced client impact. This means that your

clients are so happy with you and your service that they have
become your marketing disciples. They actively help you to
grow your business by providing additional assets to manage
as well as introducing you to people they care about and whose
financial challenges you could potentially solve.
2. Substantial growth of net income and equity value. In our

experience, financial advisors who actively participate in an
effective coaching program should expect to see a minimum
increase in net income and equity value of 25 percent in the
first year. Mere incremental growth should not be acceptable.
3. A significantly higher quality of life. Fewer but more enjoyable

clients, a streamlined business model that reduces headaches
and burnout, easier acquisition of new assets and affluent
clients, the ability to take more time off work, and more
money to fulfill life goalsall these add up to a higher quality
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THE RIGHT COACH
of life for you and those around you and should be expected
outcomes of a successful coaching program.
You will see that we do not mention any of the feel good issues
that are the focus of many coaches, such as an enriched family life,
improved work-life balance, more effective goal-setting, enhanced
communication skills, stress reduction, and improvements in health
or fitness. It is not because these issues are not importantthey are
but because we believe that when the three major goals we described
are achieved, these issues frequently resolve themselves.
For example, we have seen many financial advisors in our own

coaching programs grow closer to their familiesnot because they
made this goal a focus of their coaching, but because their success with
coaching freed up additional quality time to spend with their spouse
and children.
Successful Coachings Four Key Elements

It is not enough for coaching just to focus on the three major goals,
of course. An effective coaching program is deliberately designed to
ensure that financial advisors achieve those goals. We believe that
every effective program design includes four key elements:
1. The program provides strategies and tactics aimed directly

at achieving goals. There should be a laser-like focus on the
specific actions financial advisors should take to achieve the
three goals of increased economic value, client satisfaction
and quality of life. These strategies and tactics should be
results-oriented, highly actionable and proven to work. Taken
as a whole, they should provide a track to run ona clear path
forward.
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2. The coaching process bridges the knowing-doing gap. Through

action plans and frequent check-ins, good coaches help their
clients swiftly apply their strategies and tactics in their own
businesses.
3. Comprehensive support ensures full implementation of the

strategies and tactics. It is important for financial advisors not
just to incorporate best practices, but to do so in a way that
delivers the results they want. Good coaching programs make
sure this happens by providing extensive background and
supporting materials that make it easier to execute specific
strategies and tactics. These can include decision-making tools,
scripts and templates for client communications and turnkey
marketing materials such as white papers and presentations.
4. The coaching relationship optimizes the entire experience. At

the heart of every great coaching experience is a personal
relationship with a coach. Good coaches will closely observe
the individual performances of their clients to identify their
true gifts as well as areas in which they need to improve. They
will help them to capitalize on their strengths and minimize
their weaknesses. They will hold their clients accountable, be
their advocates, act as sounding boards and give a push when
needed. Most important of all, they will do everything they
can to ensure that their clients are getting the greatest results
possible from the program.
This is what good coaching looks like for financial advisors in general.
But what impacts might effective coaching have on your practice in
particular? We delve into that next.
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THE RIGHT COACH
The Coaching Potential

How can coaching help me and my business?
T o properly assess how coaching might

support your success as a financial advisor, you
need to understand exactly how it might impact
your business. We have already looked at what we
believe the three major goals of coaching for financial
advisors should beincreased economic value,
expanded client satisfaction and higher quality of
lifebut what should you expect specifically?
In our experience of coaching hundreds of financial advisors, we have
had the opportunity to help many transform their businesses and
achieve their most important goals. We see the most dramatic changes
in the following areas.
Assets Under Management

Financial advisors actively participating in effective coaching
programs should expect substantial growth in that most basic driver
of economic success: assets under management. This growth is
derived in a number of ways, but primarily through the acquisition
of the right affluent clients and by capturing additional assets from
existing clients.
Type and Number of Clients

There should be a distinct move upmarket to more-affluent clients.
It is not unusual for us to see financial advisors move from working
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with every prospect who walks in the door to setting minimum asset
requirements of $1 million or more in order to ensure that all their new
clients are affluent.
This is often accompanied by a methodical transfer of less-affluent

clients to financial advisors who are better positioned to serve them.
The result is that these financial advisors not only work with more-
affluent clients, but also with fewer clientseven while managing
more assets and earning higher incomes. The reduction in their client
rosters also frees up time, enabling them to provide higher-quality
service to each client.
Client Relationship Management Systems

As financial advisors move upmarket, it becomes ever more imperative
that they provide a consistent, high-level experience to every single
client at every single contact. The only way to practically do this is
by establishing a systematic, highly replicable client relationship
management system.
Critical to the success of such a system is reliance on team members

to fill key client-support roles, which frees up financial advisors to
maintain quality client contact and foster profitable, long-term
relationships.
Capacity to Serve Affluent Clients

The shift to more-affluent clients is supported by an increased capacity
to meet the diverse and often complex financial needs of the affluent.
In addition to their core offering of investment management, financial
advisors position themselves to address noninvestment concerns,
typically in the advanced planning areas of wealth enhancement,
wealth transfer, wealth protection and charitable giving.
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THE RIGHT COACH
Because it is unrealistic for any individual financial advisor to acquire

the requisite expertise in all these areas, successful financial advisors
build networks of specialists who do have the needed expertise.
Financial advisors are thus able to maintain their focus on client
service and relationship management while still providing their
affluent clients access to advanced planning services.
Client Acquisition Strategies

We see financial advisors move away from mass marketing strategies
such as advertising, direct mail and public presentations to strategies
that are far more effective at drawing in qualified affluent prospects.
These include strategic alliances with other professional advisors
such as accountants and attorneys, second-opinion offers to friends
and associates of current affluent clients, and invitation-only private
events for existing clients and their guests.
In addition to effectively attracting qualified prospects, these

strategies directly benefit existing clients as well.
Practice Management
By incorporating the proven best practices of leading financial
advisors from around the world, coaching clients refine their business
management. Through more efficient client management systems
and higher-performing team members, they enjoy improved margins
and higher profitability.
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The Coaching Mindset

Is coaching right for me?
A s useful as coaching can be for helping

financial advisors move to significantly higher
levels of success, it isnt for everyone. Obviously, for
those financial advisors who are fortunate enough
to be entirely satisfied with their businesses, there
is little call for coaching. There is absolutely nothing
wrong with this.
But if you are hungry for improvement and motivated to move
ahead because you know you are capable of a lot more, you are a
candidate for coaching. We find that the financial advisors who are
poised for the greatest success with coaching all share one attribute:
an entrepreneurial outlook. In fact, many of these individuals identify
themselves as entrepreneurs first and as financial advisors second.
Why is an entrepreneurial outlook important? After all, most financial

advisors did not enter the industry with the goal of being a good
businessperson. Instead, they sought to build and refine their skills
in client relationship management and investment management to
serve their clients well. Clearly, these are vital skills, but they generally
will not lead to the very substantial success these financial advisors
want. Entrepreneurism will, and the right coaching program can
accelerate that success.
Below is a list of what we see as the most important characteristics of

successful entrepreneurs, and thus of financial advisors who derive
the greatest benefit from coaching. Evaluate yourself in each area to
gauge whether you fit this mindset.
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THE RIGHT COACH
As you read through this list, remember that being an independent,

self-employed financial advisor does not automatically make you an
entrepreneur, nor does being an employee at a major brokerage firm
mean that you are not an entrepreneur. In fact, some of the most
successful, entrepreneurial financial advisors we have ever worked
with are wirehouse employees. So regardless of whether you are an
employee or an employer, you are responsible for your own success.
Entrepreneurs Think Big

When most people set goals, they tend to think incrementally. They
take small steps toward small goals. Among financial advisors, it is
not uncommon for us to hear about goals like increasing assets under
management by 10 percent in the next 12 months.
There is nothing wrong with this goal. For many financial advisors, this
would be a wonderful achievement, particularly if their assets have
been flat or declining for several years. However, this is not a goal that
will enable financial advisors to reach the highest level of success. Its
just incremental growth.
Entrepreneurs buck this thinking. Rather than thinking in terms of

incremental growth, they challenge themselves to completely redefine
progress. Why not double assets under management? Triple them?
Quadruple them?
Of course, just setting big goals is not enough. Entrepreneurs back up

their big goals with serious commitments. They make the changes
necessary to make their goals a reality. They deliberately align their
actions with what they want to achieve. They hold themselves
accountable over time for continuing to make progress. They pull out
all the stops to see where their dreams can take them. In short, they are
fully engaged with their lives.
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As a financial advisor-entrepreneur, thinking big and acting

accordingly can bring about tremendous results. We have repeatedly
seen how this mindset creates a virtuous loop where high energy and
big thinking draw in big clients and talented teammates, who then
push the entrepreneur to perform at ever-higher levels. This creates
fast growthat least 20 percent a yearthat in turn attracts even
bigger clients.
Entrepreneurs Move Outside Their Comfort Zones

Entrepreneurs know that there can be no meaningful changes in
their businesses unless they are willing to move into new, sometimes
uncharted territory. They agree with Einstein, whose definition of
insanity was doing the same things over and over and expecting
different results.
Doing things differently makes everyone uncomfortable at first,

entrepreneurs included. Unlike many other people, though,
entrepreneurs dont let it stop them. This is part of what makes
entrepreneurs so successful with coachingthey are not afraid of,
and even welcome, the push from their coach that will move them out
of their comfort zones and lead them into new possibilities.
Entrepreneurs Are Skilled Risk Takers

Entrepreneurs know that the only way to avoid making mistakes is
to do nothing. They are willing to take risks in order to eventually
succeed. But they also take great care to mitigate their risks and do so
in a wide variety of ways.
Coaching is one tool for mitigating risk, because by understanding

the best practices of others, entrepreneurs improve their chances of
success and minimize the risk of repeating mistakes already made by
others. In addition, it provides an effective sounding board that can
help prevent missteps along the way.
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Entrepreneurs Are Lifelong Learners

Entrepreneurs are rarely cynical or inclined to believe that they have
little of importance left to learn. Instead, they are willing to look at the
world in fresh ways. Their curiosity motivates them to explore new
options and new ways of doing things, to constantly ask questions that
begin with, What if?
For entrepreneurial financial advisors, this curiosity drives a search

for better ways to serve their clients, for more effective ways to
grow their businesses and for more efficient ways to manage their
practices. It is also what makes these financial advisors so coachable
they are eager to soak up new approaches that will benefit them and
their clients and that ultimately will take them to their goals and
accelerate their success.
Entrepreneurs Are Focused

Entrepreneurs succeed on purpose. They focus solely on the activities
that bring them closer to achieving their goals. They know exactly
where they want to go, the type of business they want to build and
the kind of clients they want to serve. They are deliberate, moving
thoughtfully as they prioritize their actions and hold themselves
accountable to their plans.
At the same time, entrepreneurs also recognize that they sometimes

need help to achieve this focus. The sheer number of opportunities
can be distracting and prevent success. Working with a coach is one
way they can get the focus they need.
Entrepreneurs Are Leaders, Team Builders and

Collaborators
Entrepreneurs know that nothing great was ever achieved alone. They
know how and when to enlist others to help them and are skilled at
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leading and motivating them. They can instill in others their own
passion for growing their businesses.
Entrepreneurial financial advisors do not limit themselves to

traditional sources of support, such as their in-house teams. They
actively seek the counsel and assistance of peer groups, strategic
partners, mentors and, of course, coaches.
Entrepreneurs Persevere
There is no question that everyone encounters obstacles as they
pursue their goals. What sets entrepreneurs apart is how they deal
with their obstacles. Successful entrepreneurs know how to persevere.
They move toward their goals with a patient, single-minded tenacity.
Rather than dwelling on or becoming discouraged by a roadblock, they
focus on the alternate route around it. They dont hesitate to go to
Plan B, then C and D and beyond. And when they need it, they get help,
often from coaches, but also from consultants or other specialists as
the situation requires.
Entrepreneurs Are Motivated by More than Money

Entrepreneurs dont have jobs, they have callings. Money alone does
not justify the effort successful entrepreneurship demands. Instead,
entrepreneurs are motivated by the sense that their work is making
a difference. They know that by following their passion, they are
creating a life that directly reflects their greatest gifts and talents. To
them, there is nothing in the world they could be doing that is more
important than following their passion to serve their clients well.
As a result, they design their businesses to provide the quality

of life that they want; they are not in business simply to have
more business. For some entrepreneurs, this means growing
their businesses dramatically. For others, it means refining their
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THE RIGHT COACH
businesses to make them simple and elegant, choosing a lifestyle

boutique over an enterprise.
As a successful financial advisor, it is very likely that some or all of

these entrepreneurial characteristics strike a chord with you. If so,
there is a very good chance that coaching is the right springboard
to significantly higher success for you. If you choose to pursue
coaching, your first step will be to understand the characteristics of
the major coaching programs available to you. This is the topic of our
next section.
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Key Attributes and Top Programs

What should I look for in a coaching program?
What do the top programs look like?
A s you begin to investigate specific

coaching programs, its useful to articulate the
specific criteria you will use to make your decision.
Here we delve into the key characteristics of coaching
programs that we believe you should pay attention
to. We will follow this with overviews of the leading
programs in the financial services industry today.
Essential Coaching Program Attributes

As you will recall, coaches and coaching programs generally fall into
one of two schools of thought: co-active coaching and results-based
coaching. Because our expertise lies primarily with the results-based
approach, we list here what we see as the most important attributes of
results-based programs.
Proven industry-specific experience: The firms principals and

subject-matter experts have proven track records of significant
success in the financial services industry; coaches have proven
track records of coaching financial advisors to significantly
higher levels of success.
Proven business coaching experience: Coaches have significant

experience coaching entrepreneurs and executives to higher
levels of business success.
Appropriate screening of candidates: The program has a well-

defined screening process to ensure participants fit with the
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THE RIGHT COACH
coaching program, which assesses whether prospects have

sufficient drive, focus, commitment and willingness to move
beyond their comfort zones.
Actionable, proven, research-based content and processes: The

program is based on best practices and processes that have
been proven effective, yet remain customizable to each clients
unique needs.
Comprehensive content and turnkey tool set: There is complete

documentation of all content, supported by a full set of
turnkey tools that enables easy execution of all recommended
strategies and tactics.
Multiple coaching and content delivery modalities: Coaching is

made available in multiple formats, including group sessions,
one-on-one sessions, peer coaching and webinars. Content
is delivered via multiple formats, such as live presentations,
written documentation and video presentations.
Astute use of technology to facilitate learning: To support

the range of learning styles and provide convenient access,
all content is made available online in a variety of formats,
including written materials, videos, podcasts and forums.
Measurable results: The program collects key success metrics

of participants, enabling program prospects to calculate their
own potential return on investment.
Networking opportunities: There are abundant opportunities

for clients to interact, both in facilitated and informal settings,
with others who have experienced equal or greater success.
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Opportunity to continue lifelong learning: The coaching

firm provides lifelong learning opportunities to sustain
momentum beyond the initial program.
Guaranteed results: The program offers a full refund of fees if

specific, quantifiable goals are not reached within a specified
period.
Leading Coaching Programs Serving Financial Advisors

To help you get started on your research, we have provided overviews
of the top coaching programs working in the financial services
industry. This list is not comprehensive; our goal is to introduce you
to the broad array of programs available that are designed for financial
advisors. Contact information is provided for each so that you may
follow up directly with any program to get more information.
ClientWise
www.clientwise.com
(800) 732-0876
ClientWise provides extensive training, as well as one-on-one

coaching, for top-producing financial advisors, branch managers and
sales leaders. It specializes in serving financial advisors who manage
more than $100 million in client assets, as well as those who aspire
to this level or who simply want to grow their businesses. Services
include private client coaching for individual financial advisors,
advisory firms and leaders, as well as group coaching workshops for
financial advisors.
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THE RIGHT COACH
Cannon Financial Institute

www.cannonfinancial.com
(706) 353-3346
Cannon Financial Institute provides a wide range of professional

development services to the financial services industry in a number
of topic areas, including personal trust, corporate trust, tax, retirement
planning, investment management, securities operations, risk
management, and sales and practice management. Courses are offered
at one of its eight nationwide locations, on-site and through e-learning,
teleconferences, webinars, audio series and publications.
Strategic Coach
www.strategiccoach.com
(800) 387-3206
Strategic Coach is focused on advancing entrepreneurial success for

professionals from a range of industries, including financial services.
Its Strategic Coach Program consists of quarterly, one-day workshops
that feature focusing exercises, structured small-group discussions
and creation of action plans, all aimed at helping participants to work
less while making more money and doing what they love.
Peak Advisor Alliance

www.peakadvisoralliance.com
(800) 514-9116
Peak Advisor Alliance supports financial advisors through coaching

(both one-on-one and group), content (resources, strategies and
systems) and community (a network of other financial advisors). Its
services include a Web-based compendium of presentation materials,
tools self-paced study, a coaching program that includes monthly
coaching calls and semiannual two-day live meetings.
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Bachrach & Associates

www.baivbfp.com
(800) 347-3707
Bachrach & Associates programs focus on a values-based approach to

building high-trust relationships in order to service clients extremely
well. Its programs include one- and five-day workshops and a yearlong
study group program.
Million Dollar Producer

www.mdproducer.com
(866) 866-0472
Million Dollar Producer offers several programs, including a two-day

boot camp on topics such as time management, marketing, client
interviews and closing techniques, as well as a yearlong program
featuring three two-day meetings, webinars and quarterly coaching
callswhich focuses on all aspects of running a highly successful
practice.
Bill Good Marketing

www.billgood.com
(800) 678-1480
Bill Good Marketing offers a computer-based system designed to

handle all client marketing, prospecting and office management
needs, along with a boot camp for learning the system and supporting
processes.
[25]
THE RIGHT COACH
The Oechsli Institute

www.oechsli.com
(800) 883-6582
The Oechsli Institute specializes in helping financial professionals to

better attract, service and develop loyal affluent clients. Its coaching
offerings include intensive two-day retreats, ongoing performance
coaching and new financial advisor training.
Quantuvis Consulting
www.quantuvis.com
(866) 798-5328
In addition to a range of consulting services, Quantuvis Consulting

offers best practices coaching for financial advisors that includes
retreats to advance education and knowledge of business
fundamentals, monthly conference calls to review strategies and
solutions, and ongoing checkups with a coach.
CEG Worldwide
www.cegworldwide.com
(888) 551-3824
Leveraging its extensive industry best practices research and

experience working both with and as financial advisors, CEG
Worldwide offers a range of coaching programs, including workshops
and e-learning on topics such as implementing wealth management
systems, building strategic alliances and mastering conversational
marketing, as well as a comprehensive yearlong program that includes
three two-day sessions, monthly coaching calls, extensive online tools
and resources, and an ongoing graduate program.
[26]
The Right Coach

Which is the optimal program for me?
T o a very large degree, your success with

coaching depends on your choice of coach.
Assuming that you put in the required work, the
right coaching programone that is best matched
to your specific goals and challengesis highly likely
to lead to substantially increased economic success
more quickly than would otherwise be possible.
The wrong program will distract you and cost you
opportunity.
There is no single correct answer. A program that is optimal for
another financial advisor may be a subpar match for you. To identify
the program best-suited to you, we recommend that you ask yourself
the questions below, which are designed to help you think about
what you really want to achieve from coaching and then to determine
which program will best help you achieve those goals.
What Are My Most Important Goals?

Have a frank conversation with yourself about your deepest goals.
What do you really want? Imagine yourself in the future: What do you
want your life to look like in one year? Five years? Twenty years? Dont
limit yourself to what you want to achieve in your business, but take
a look at your entire picture, including your family life, your leisure
time and your health.
[27]
THE RIGHT COACH
Write down your ten most important goals. Be specific. If one of your
goals is to increase your income, for instance, articulate exactly how
much you want to make and within what time frame.
Test every goal by asking Why? about each one. Why do you want
to make more money? It probably isnt just for the sake of making
more money, but for a deeper reason. Maybe you want to send your
children or grandchildren to top universities, or to expand your
charitable giving. By identifying the deeper reasons behind each goal,
you identify your true motivations. You will need to draw on these
motivations as you do the work needed to achieve your goals.
Your goal with this exercise is to achieve clarity of purpose. We often

find that when financial advisors do this exercise, they discover
that their goals are different from what they once were. What was
important at one time no longer is, and new goals now have priority.
It is important to capture this and be completely clear on your goals
before moving ahead.
Where Do I Need to Change?

Working from your list of goals, identify the areas where you need to
change over the next 12 months to move toward your goals.
Returning to our example above, lets say that one of your goals is
to grow your net income by 30 percent over the next year. What will
need to change in order to reach this goal? One obvious way would
be to work with the right affluent clients who can provide greater
assets for you to manage. Where would you need to improve in order
to support this change? You may determine that a shift in your
marketing approach is called for, or that you need to enhance your
service offering to attract wealthier clients.
As you move through your list, you will probably find that there is
great deal of overlap in the areas that need enhancement. We typically
[28]
see them fall into these categories: assets under management, number
and type of clients, client relationship management systems, capacity
to serve affluent clients, client acquisition strategies and practice
management. As you will recall from our earlier discussion, these are
the same areas where coaching offers the greatest potential.
Am I Really Willing to Change?

Do an honest check-in with yourself: Are you willing to make the
changes that will transform your business? As we know, everyone
is uncomfortable with change, especially in the beginning. Be clear
that your desire to make changes will overcome your discomfort with
those changes.
In addition, consider the willingness to change of the important

people around you. You will probably have to convince your partners
and/or team members to make some changes. There may be resistance
to change from your spouse or family.
If you are clear about your willingness to make the changes that a
coaching program will prompt you to make in order to accelerate your
success, then you are ready to move on to choosing a program.
Which Program Is Right for Me?

Use our overviews in the previous section of the leading coaching
programs as a starting point for answering the following questions
about any program you are considering.
Does this program match my needs?

Go back to the areas of improvement that you identified. Does the
program address those needs? If so, does it do so only in general terms,
or does it provide proven, methodical approaches for improving
in each area? Does it provide specific actions and tools for you to
implement what you are learning in each area?
[29]
THE RIGHT COACH
Is this program designed to help me achieve a high level

of success?
Financial advisors at all levels of success participate in coaching
programs. You want one where your fellow participants are at least as
successful as you. Ideally, they will be substantially more successful
than you.
There are two reasons for this. First, interaction and networking with
other program participants can be an important part of the coaching
experience. You want to rub elbows with people you can learn from.
Second, the presence of highly successful financial advisors in the
program is a good sign that the program is designed for that level.
Does this program support a range of learning styles?

There are many ways to deliver content in coaching programs,
including lectures, presentations, small-group breakout sessions,
webinars, conference calls and interactive, multimedia Web sites.
Some programs use only one delivery method; others use a broad
range.
Likewise, coaching can be delivered in a number of ways, including

in person, in one-on-one meetings, in telephone meetings, in group
settings and in peer coaching with fellow participants.
Since we all learn differently at different times, you most likely will
want a program that supports all types of learning styles, including
those of your team members.
Does this programs expertise and experience support

its offerings?
Clearly, you want any program you invest in to have a set of solid
credentials. The ideal program is designed and executed by experts
who not only have experience in coaching financial advisors, but
[30]
also have direct experience in building successful financial advisory

businesses themselves. These experts should keep current on industry
best practices from both empirical research into leading financial
advisors and from direct interaction with top financial advisors.
The program should have a documented track record of success in

coaching financial advisors and be willing to share it with you. Find
out exactly how previous program participants have grown their
businesses in specific areas, such as increases in net income, growth in
assets under management and acquisition of new ideal clients.
What is the potential ROI of this program?

Finally, look at the financial return you should expect from your
investment of time and money in the coaching program. Some
coaching firms, including CEG Worldwide, provide ROI calculators
for you to calculate your own expected return on investment for
participation in their coaching programs.
Once you have considered all these questions, you should have a very
clear idea of the program that will best meet your needs and support
your success.
[31]
THE RIGHT COACH
Conclusion
I f you are like many financial advisors,

coaching may be the best method available
to you to move to a substantially higher level
of personal success within a shorter time frame
than would otherwise be possible. But before
making an investment of time and money in a
coaching program, its important to know the
answers to these critical questions:
What does successful coaching look like? Effective coaching is anchored
by three primary goals: enhanced client impact, increased net income
and practice equity, and higher quality of life. It achieves these goals
by providing highly actionable strategies and tactics, by bridging the
knowing-doing gap to generate results, by providing comprehensive
support and by relying on the coaching relationship to optimize the
entire experience.
How can coaching help me and my business? Financial advisors
participating in an effective coaching program should expect

improvements in their assets under management, in the type
and number of clients they serve, in their client relationship
management systems, in their capacity to serve the right
affluent clients, in their client acquisition strategies and in
the way they manage their practicesall of which result in a
higher quality of life for the financial advisors.
Is coaching right for me? The most successful financial advisors
[32]
in coaching programs are those with entrepreneurial outlooks.

They are not afraid to move outside of their comfort zones, yet
are skilled at taking calculated risks. They are curious, focused
and tenacious, and they want to lead and motivate others.
Perhaps most important of all, they are passionate about
building hugely successful businesses by serving their clients
extremely well.
What should I look for in a coaching program? What do the

top programs look like? We have provided for you a slate
of important criteria that will allow you to fairly compare
different programs to one another, as well as overviews of the
major programs available today.
Which is the optimal program for me? To choose the right

program, we recommend that you ask yourself the key
questions we set out in the previous section. Doing so will
help you gain substantial clarity about which program is most
likely to meet your particular needs and goals.
Chosen well, the right coaching experience can be transformative, not

just for your business, your clients and your team, but for you and
your family personally. We believe that you will find it to be one of
the best investments you could ever make, and we wish you the best
of success.
[33]
THE RIGHT COACH
About CEG Worldwide

CEG Worldwide is the number one coaching organization for the
financial services industry. We coach financial advisors to achieve
breakthrough results in their careers by substantially increasing assets
under management, accelerating affluent client acquisition and growing
personal net incomeall while serving their clients well. We deliver
insights garnered from empirical research on industry best practices
and coach financial advisors to implement these practices in their
businesses. The result is focused, energized and enriched financial
advisors who build substantial economic value in their practices,
deliver a world-class experience to their clients and ensure a high
quality of life for themselves.
CEG Worldwide also works collaboratively with leaders of financial

institutions to grow net new assets under management and the
loyalty of their top financial advisors while attracting new top
financial advisors. We provide insights, developed from empirical
research, into what motivates top financial advisors, how to help
them stay fully engaged and how to accelerate the achievement of
their professional goals. Our services secure the long-term success
and allegiance of top financial advisors who generate significant
income for financial institutions.
[34]
About the Authors

John J. Bowen Jr. CEO John Bowen founded CEG
Worldwide in 2000, with the goal of bringing
to bear the lessons he had learned during his
career for the benefit of financial advisors and
the institutions that work with advisors. His
26 years as a financial advisor and investment
firm CEO had taught Bowen that many advisors
lacked the high-quality empirical data and
pragmatic business experience necessary to
build hugely successful businesses. Bowen
founded CEG Worldwide to fill that void, with the belief that providing
financial advisors and institutions with research about the best
practices of elite financial advisorsand the coaching to use these
practices effectivelywould help them achieve new levels of success
while serving their clients extremely well.
CEG Worldwide represents the culmination of Bowens unique

financial services industry experience. That experience encompasses a
career as a financial advisor, including eight years as CEO of Reinhardt
Werba Bowen Advisory Services, where he helped manage more than
$1.6 billion in assets. Bowen sold that company and subsequently
became CEO of Assante Capital Management, where he served as a
member of the senior team as the firm more than tripled assets under
management to more than $25 billion. Through these experiences,
Bowen learned firsthand the best practices for substantial success.
He also learned that the vast majority of financial advisors and
institutions lacked a road map to build a simple and elegant practice
so he founded CEG Worldwide to provide other financial advisors and
institutions the lessons his experience had taught him.
[35]
THE RIGHT COACH
Bowen is widely recognized as a leader in the financial services

industry. He writes a highly acclaimed monthly column for the
leading U.S. financial services trade journal, Financial Planning. He is
the author or co-author of several books, including Breaking Through:
Building a World-Class Wealth Management Business, The Prudent
Investors Guide to Beating Wall Street at Its Own Game and Creating
Equity: How to Build a Hugely Successful Asset Management Business.
Paul Brunswick. Paul Brunswick brings proven

coaching and leadership skills to the CEG
Worldwide team. He has extensive financial
services experience and a proven track record
working with both institutional and ultra-
high-net-worth clients, as well as with financial
advisors and branch managers. Brunswick has
both field and corporate expertise in developing
talent at all levels within a financial services
organization.
Brunswick has had more than 20 years of success in the financial

services industry. Most recently, he was the director of national
business development for Smith Barney, where he provided strategic
and tactical direction to the firms entire private client distribution
channel. He led campaigns designed to increase financial advisor net
asset flow, grow fee-based revenue, and improve financial advisor
competency in such key areas as investment and wealth management.
He also had responsibility for internal communications, new product
approval and the research strategy group.
Earlier, he worked at Smith Barney in a variety of management

positions across the country. He started his financial career as a
financial consultant for Merrill Lynch in St. Louis, Missouri.
[36]
Jonathan J. Powell. Jonathan Powells

considerable expertise in developing top-
performing financial advisors is a great asset to
the clients he serves through CEG Worldwide.
Working with many of the nations top financial
firms, he enjoys helping financial advisors
transform their professional and personal lives
by using CEG Worldwides research-backed
principles.
Powell has hired and coached hundreds of the industrys top financial
advisorsin multiple distribution channelsfor more than 25 years.
After starting his career as an independent financial planner in the
San Francisco Bay area, he went on to spend more than two decades
with Citigroup before retiring to pursue his passion for training and
coaching.
In his lengthy career, Powell has managed branches for Smith Barney
and led Citibanks West Coast brokerage business, overseeing 290
financial advisors and 20 managers. While at Citigroup, Powell was a
sought-after speaker for national and regional conferences on topics
including time management, financial advisor strategies for success
and effective recruiting.
Powell earned a BA in economics from Stanford University and holds

the CFP certification. He is a co-author of Breaking Through: Building
a World-Class Wealth Management Business.
[37]
CEGWorldwide, LLC
1954 Hayes Lane
San Martin, CA 95046
(888)551-3824
www.cegworldwide.com
info@cegworldwide.com

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The Right

The Coaching Potential . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12

The Coaching Mindset. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15

Key Attributes and Top Programs. . . . . . . . . . . . . . . . . . . . . . . . . . 21

The Right Coach. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27

About CEG Worldwide. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 34

About the Authors. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 35

The Right Coach: A Guide for Financial Advisors

By John J. Bowen Jr., Paul Brunswick and Jonathan J. Powell

Copyright 2012 CEG Worldwide, LLC. All rights reserved.

T o the average financial advisor, the

But for a select number of financial advisors, todays environment

These highly successful financial advisors are more aware than

Those financial advisors who succeed in consistently delighting their

1. A highly refined, replicable, consultative client management

2. A complete suite of services, products and expertise that

3. A marketing strategy that not only brings in additional clients

Why is coaching proving to be so valuable to these financial advisors?

Coaches provide motivation, encouragement and advice on an

ongoing basis. This greatly enhances financial advisors ability

Coaching enables financial advisors to work far more effectively.

By focusing on specific actions that are proven to yield

The coaching process is enjoyable. We find that virtually all the

financial advisors we work with enjoy learning and expanding

Most important of all, coaching accelerates success. We see

As effective as we have seen coaching be in creating and accelerating

As you contemplate engaging a coaching program, you no doubt have

In Coaching Defined, we will describe exactly what successful

In The Coaching Potential, we will set out the specific

The Coaching Mindset will help you understand whether

In Key Attributes and Top Programs, we will outline the

Finally, in The Right Coach, we will show you how to identify

I n recent years, both the demand for

In contrast, results-based coaching holds that clients are more

accelerate success. While there is an element of self-discovery in

At CEG Worldwide, we are fully grounded in the school of results-based

Successful Coachings Three Primary Goals

1. Dramatically enhanced client impact. This means that your

2. Substantial growth of net income and equity value. In our

3. A significantly higher quality of life. Fewer but more enjoyable

For example, we have seen many financial advisors in our own

Successful Coachings Four Key Elements

1. The program provides strategies and tactics aimed directly

2. The coaching process bridges the knowing-doing gap. Through

3. Comprehensive support ensures full implementation of the

4. The coaching relationship optimizes the entire experience. At

The Coaching Potential

T o properly assess how coaching might

Assets Under Management

Type and Number of Clients

This is often accompanied by a methodical transfer of less-affluent

Client Relationship Management Systems

Critical to the success of such a system is reliance on team members

Capacity to Serve Affluent Clients

Because it is unrealistic for any individual financial advisor to acquire

Client Acquisition Strategies

In addition to effectively attracting qualified prospects, these

The Coaching Mindset

A s useful as coaching can be for helping

Why is an entrepreneurial outlook important? After all, most financial

Below is a list of what we see as the most important characteristics of

As you read through this list, remember that being an independent,

Entrepreneurs Think Big