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Training/coaching was identified as the primary category where FMOs need the most improvement by respondents to this month’s reader survey. You can’t sell effectively – or appropriately – if you don’t know your products inside and out. In looking at the responses from the survey, it is clear that many advisors out there stand to benefit from better access to training.

Of course, all marketing organizations are not created equal. Some excel in areas where others are clearly lacking, and training programs are certainly one of those areas. In analyzing survey responses, it didn’t take a rocket scientist to figure out which advisors were happy with their FMO and which ones were in the market for a new one.

Many FMOs were raked over the coals for poor communication, product availability, commission structures, and the aforementioned lack of training.

On the positive side, participating advisors were most notably impressed with the people they work with at their marketing organizations. “Nice people” and a “positive culture” were frequently repeated responses, and many said good communication was what they like best about their FMO.

This is a relationship business. Sure, building strong relationships with clients is the cornerstone to advisor success. No secret there. But the relationship an advisor has with his marketing organization(s) is another key to success – for advisors and marketing organizations alike. One survey respondent, who works with multiple marketing organizations, said he favors the one with his favorite rep.

If you have a close relationship with the rep at your FMO, that comfort level allows you to count on them for not only consistent great service, but they will go the extra mile for you when you need it. That can be the difference between a good outcome and a bad one.

Be sure to check out the survey, click here
Brian Anderson


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