mission products you won’t be in business,’” says Young. “I didn’t feel comfortable with that.” Young is definitely still in business; at age 38, she is one of the youngest planners to ever be named to the Chairman’s Council at Raymond James. So far this year, Young has added 24 new clients. “We really don’t do marketing, we don’t do PR. We thought maybe we would hire someone to do this but we didn’t have time,” she explains. Instead, virtually all the growth comes from referrals. Volatile markets are a help, not a hindrance here. “What we are doing in terms of managing money in difficult markets is working,” says Young, who also adds that the firm’s strategies are attracting new clients. Young’s success can also be seen in her sky-high retention rates of 99.9%. Young feels these very high retention “ If you can picture it, you can build it— and when you build it they will come.” rates are based on three distinct factors. The first is performance. Second, she and her team really get to know their clients. “We aren’t just managing their money, we need to know their entire financial needs,” she says. Most of her clients are fairly young Silicon Valley execs, who may have concentrated stock positions and need expertise in this area. Third, Young offers a “client service matrix” for longterm planning. It includes contingency planning and the most tax-efficient way to achieve retirement income. Given that most of her clients are highly affluent, tax efficiency is a common theme of her practice. Young disagrees that some of these techniques for success might not work as effectively for advisors operating outside the specialized milieu of Silicon Valley. “I do have a unique client base but as far as other advisors are concerned, it’s important to know your clients,” she admits. “You don’t get referrals unless you are talking to your clients. A lot,” she emphasizes. Broker-Dealer Guide / SourceMedia Marketing Solutions Group 16 The Power Of Thinking Big Kelly Campbell of Campbell Wealth Management in Alexandra, Va., is unquestionably an up-and-comer. His business has grown by a multiple of 10 since 2003. Campbell, however, isn’t new to finance, with previous experience at two insurance broker-dealers. The explosive growth only occurred once he made the move to independence and fee-based financial planning. “True independence means you can say to a client, ‘When you are successful I am successful,’ rather than here is a product my wirehouse told me to push,” says Campbell. He credits his broker-dealer, LPL, for much of the growth, likening the support and information they provide to ‘drinking from a firehose.’ Kelly Campbell Campbell Wealth Management Marketing has played a role in helping Campbell’s momentum as well. Traditional workshops he holds at libraries, restaurants and country clubs—build on themselves via referrals to bring in more and more clients. Though traditional client events are on the wane for many advisors, Campbell instead brings in motivational speakers, such as strategic coaches, for these events for his clients’ benefit. “The best piece of advice I have is to ‘Think big,’” says Campbell. He learned this philosophy from a strategic coach who strongly influenced his own growth story. In terms of thinking big, when he started out as a RIA, Campbell imagined what his business would look like if he could add a zero to everything and it was expanded tenfold—which is exactly what came to pass. Campbell’s critical insight for achieving success, his own and for other planners too, both young and not so young: “If you can picture it, you can build it—and when you build it they will come.” n
R 1 S A How committed is your clearing fi rm to helping you grow? At First Clearing, we believe there’s no substitute for one-on-one professional coaching. That’s why we partner you with a dedicated growth consultant who will support your progress through a step-by-step process tailored to your specifi c goals. When it comes to growing your business, isn’t it time you got MORE? To download a QR code reader, visit the app store for your smart phone or tablet. First Clearing, LLC is a registered broker-dealer and non-bank affi liate of Wells Fargo & Company. First Clearing Correspondent Services, a division of First Clearing, LLC, member FINRA/SIPC. ©2012 First Clearing, LLC. 0612-0635
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