Turnkey asset manager Loring Ward is doing more than helping advisors better understand portfolio theory and strategy these days. It just wrapped up a three-day conference in Austin, Texas, that aimed to help about 80 reps boost referrals.
“We handle investments, but we’re really in the relationship business. That’s what this conference was about,” said Steven Atkinson, head of advisor relations, in an interview with ThinkAdvisor.
During the event, a group of CPAs and estate planning attorneys gave “live” feedback about advisor presentations.
(The discussion was moderated by Michael Maslansky, head of maslansky + partners, a strategic communications firm.)
“We recorded a few advisors and their answers to the questions these types of professionals ask and then showed it to the panel,” Atkinson said.
“The main takeaway from the exercise was that this is not about getting referrals. It’s about relationships, and it’s all about the client.”
The CPA and attorney panelists seemed to find discussions about potential partnerships unappealing.
“When advisors talked about jointly building a business, it was a big turnoff,” Atkinson said. “Many advisors lead with this, and it’s a turnoff across the board.”
Instead, potential partners want to know what you do to benefit clients.