10 Things Financial Advisors Aren’t Doing, but Should


Sep 30 • Uncategorized • 8484 Views • 1 Comment

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Editor’s Note: One of the opportunities of being a digital publication (and one of the challenges as well) is the flexible nature of publishing for the browser on any device. It means we can run longer pieces, how-to guides, and one of the most popular online posts – the checklist. In reality, Ms. Mosher’s checklist below is also easily a list of the next ten articles we might run on The Digital FA. Our addition to what Ms. Mosher outlines below: put this list somewhere you will see it daily. Also remember the nature of the business as a financial advisor – nothing gets done without a plan. Be sure to look inward and work “on” your business in the same way you plan for your client’s financial lives.

We have the pleasure of working with a diverse group of financial advisors that give us the opportunity to see first-hand what makes or breaks an advisory firm. One of the best aspects of our job is to see advisors succeed by implementing and managing key business concepts.

Here is a quick list of components causing some firms to lag behind those that are more successful.


To-Do Checklist for Financial Advisors

  1. Not reviewing a business plan.
  2. Not having a marketing plan – and if there is one, check points are not in place to measure progress.
  3. Not ditching old marketing methods. Most advisors know that a social media presence is critical, yet few have implemented a strong strategy.
  4. Little to no investment in team development and recognition.
  5. Not using client surveys or utilizing them properly.
  6. Wanting to change office culture, but not understanding what their culture really entails.
  7. Not building a relationship with next generation clients or next of kin.
  8. Not investing in technology: “Technology will not replace people. People who use technology will replace those that don’t.”
  9. Not implementing standard operating procedures – those that do, succeed on purpose.
  10. Not planning for continuity or succession of their firm.
Michelle Mosher

Michelle Mosher, is the Business Development/Marketing/Social Media Specialist at Ironstone and brings over 25 years of financial industry experience to the team.

Michelle consults with our clients on the development of a solid business plan, integrating marketing and social media platforms to help our clients reduce marketing costs, and strategies to attract affluent clients for their firms. She is also responsible for business development and marketing strategies at Ironstone.

She is a native Iowan, now residing in Nebraska as an avid Husker fan. Mentoring cancer patients and a speaker for Komen Nebraska, Michelle shares her passionate story with others to raise cancer awareness after beating the odds and triumphing a cancer diagnoses over 20 years ago. In addition, she provides marketing and social media consulting to Komen Nebraska, an affiliate of the Susan G. Komen Foundation.

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The above article is for educational purposes only. Investment professionals should consult their compliance departments before accessing or implementing any of the marketing ideas, practices or advice found in the DigitalFA. Your use of the DigitalFA website tells us you have read and agreed to our Terms of Service.

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One Response to 10 Things Financial Advisors Aren’t Doing, but Should

  1. Geoff Graham says:

    i am sure some are not doing these things, however, some are. Poorly worded heading. It should have said, 10 Things Some Advisors Aren’t Doing. It’s like me writing an article say 10 Things Social Media/ Marketing Specialist Arnt Doing.

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