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“Trust takes time and consistency,” says Executive Business Coach Jessica Colston, MS, PCC. “Building a foundation of trust in the early stages of working with business owners will require you and your team, to be reliable, proactive, transparent and curious.” Jessica recommends that in order to serve business owners better, you:   👉 Understand the complex need of them and their business  👉 Provide value to them by listening and helping them reach their goals  👉 Constantly learn about the niche and get the credentials to better serve them (like the Certified Exit Planner Advisor and the Certified Exit Planner certifications) Read our latest article in the Journal of Financial Planning for a deeper dive in how to better serve business owners: https://lnkd.in/gKnzgVhA 

Edelman Financial Engines found that upward of 80% of people prefer to work with a professional who is of the same background as them. For example:   👉 High-powered women like to work with high-powered women advisors.   👉 Firms like Kingdom Advisors like to work with practicing Christians.   👉 Business owners like to work with business owners.  You are a business owner, correct? Have you actively tried to serve other business owners? Let us know!  And if you're looking to serve business owner, J.J. Peller stresses showing them that you genuinely care. "Ask questions. Be curious about their business and what they love about it," J.J. says. "Offer value whenever possible." And if you’re interested in serving business owners, check out Greg Opitz’s latest blog post: https://lnkd.in/gDJq3isq 

Coach Tammy Breitenbach, ACC, MBA sees many advisors who angle toward the business owner market because they see a high net worth that’s going to transition at some point. They wait and wait for a big sale only to be short-circuited by the business broker who already has another advisor in mind. That means these advisors are putting in a lot of work for no guarantee that they’ll see the proceeds of the sale. So how can you intentionally build relationships to serve business owners so this doesn’t happen to you?  “You need to put in the work earlier to connect with business owners and, if you’re already working with business owners, make sure they understand your capacity to serve their complex needs,” Tammy writes in the Journal of Financial Planning: Read the full article here: https://lnkd.in/gKnzgVhA   

"Serving the business owner market just seems like putting a square peg in a square hole for advisors, yet for whatever reason, not many advisors are targeting them,” says Greg Opitz. There are significant benefits of serving business owners.  🎯 𝗧𝗵𝗲𝘆 𝗶𝗻𝘃𝗲𝘀𝘁 𝗶𝗻 𝘁𝗵𝗲𝗶𝗿 𝗳𝗶𝗿𝗺𝘀. They’re not afraid to cut the checks!   🎯 𝗧𝗵𝗲𝘆 𝗹𝗶𝗸𝗲 𝘄𝗼𝗿𝗸𝗶𝗻𝗴 𝘄𝗶𝘁𝗵 𝗽𝗲𝗼𝗽𝗹𝗲 𝘄𝗵𝗼 𝗴𝗲𝘁 𝘁𝗵𝗲𝗺. As a business owner yourself, you get what it’s like and what business owners need.   🎯 𝗬𝗼𝘂 𝗹𝗶𝗸𝗲𝗹𝘆 𝗿𝘂𝗻 𝗶𝗻 𝘁𝗵𝗲 𝘀𝗮𝗺𝗲 𝗰𝗶𝗿𝗰𝗹𝗲𝘀. You’re probably already networking with many business owners through organizations you’re active in.  Find out more about how to better serve business owners in Greg’s latest blog post: https://lnkd.in/gDJq3isq 

Investopedia reports that business owners can benefit from working with you, advisors.  You can help them simplify their financial lives and eventually get the most value for their firms.  But do you have what Coach Greg Opitz calls “the goods” to be able to serve business owners?  Ask yourself:   🤔 Do I have the value and expertise to serve them?   🤔 Am I comfortable with small business owners who might be worth $50 to $100 million (or more)?   🤔 Do I understand the unique challenges of business owners?  Even if your answer to some of these questions is “no”, you can put in the work to understand and gain the expertise to serve business owners. Find out how in our latest Journal of Financial Planning article: https://lnkd.in/gKnzgVhA 

Here are some stats about business owners that might be of interest to you, advisors:  📊 There are around 33 million small businesses in the United States, according to Forbes 📊 Only 35% of them work with a financial advisor, according to Financial Advisor.  📊 When it comes to mid-sized businesses, approximately 59% of them work with a financial advisor. So it's an underserved market, writes Greg Opitz in his latest blog post.  But “serving business owner takes time and expertise,” Opitz said. But when you put in the time and get the education to have the expertise, Opitz said it’s a natural fit.  Read Greg’s latest blog post for ways to build genuine relationships with business owners: https://lnkd.in/gDJq3isq 

Coach Tammy Breitenbach, ACC, MBA notes that there are important things to keep in mind when you decide to serve business owners:  1️⃣ You must have a passion to serve business owners  2️⃣ You have to put in the work to build trust with both them AND their heirs  3️⃣ You have to be able to understand and work with the family dynamics Find out more on how to serve business owners in Tammy’s latest Journal of Financial Planning article: https://lnkd.in/gKnzgVhA 

Don’t forget to tune in today as we chat with Lacy Garcia, founder and CEO of Willow about her journey into the financial services industry and how she’s helping advisors better serve women!     Tune in for an inspiring episode filled with actionable advice, live from the SER Summit for Latin@s in FinServ 🎧     Put it on your calendar:  🕒 5 p.m., CT  📅 Today, Oct. 10  Location: https://lnkd.in/g2vaKcKc #WomenInWealthManagement #HispanicHeritageMonth #LatinaLeaders 

Research from Nationwide found that advisors are critical in helping business owners:  1️⃣  Navigate the financials of their business 2️⃣ Help them navigate today’s uncertain economic environment. But how can you do that?  Serving business owners is a 𝗹𝗼𝗻𝗴 𝗴𝗮𝗺𝗲—you have to build genuine connections and relationships with them first. Coach Greg Opitz recommends doing this by:  👉 Being active in organizations for business owners yourself. You are a business owner after all!  👉 Obtain credentials specific to exit planning, such as the CExP or CEPA. This shows your commitment and expertise for serving business owners.  👉 Be honest with yourself whether you’re comfortable serving business owners.  Check out Greg’s full blog post for a deeper dive: https://lnkd.in/gDJq3isq 

Learn how to find and serve business owners at a free #GroupCoachingCall with Coach Tammy Breitenbach, ACC, MBA. 1 p.m., Central, TODAY! Register here: https://bit.ly/3UfEZUb?