Chapter 17
Benchmarking Performance
IN THIS CHAPTER
Steering clear of using stock market indexes solely as your benchmark
Creating a personal benchmark for each client
Making sure you’re addressing each client’s unique needs
Taking responsibility for poor performance
Given that this book is called Success as a Financial Advisor For Dummies, it should contain some way to measure success. What’s the metric? Is it the number of clients you have? Your annual income? The average return on your clients’ portfolios? Or is it something else?
Throughout this book, I encourage you to tie your success to that of your clients, but choosing a client success metric isn’t easy either. You can be successful with one client by growing her portfolio by an average of 8 percent year over year and another by having a life insurance policy in place when the family’s major breadwinner passes away, saving the client’s family from financial ruin. In other professions, success and failure are fairly obvious, such as winning or losing court cases or performing life-saving surgeries on patients. In this profession, ...
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