How to Support the Strategic Vision of Your Financial Advisory Firm

You’ve built your business from the ground up. You’ve worked hard, put in the time, and fostered a strategic vision. And now, maybe you find yourself stuck in something of a rut. After all, it’s one thing to have lofty strategic goals, but it’s a very different thing to make those goals a reality.

Enter operational objectives. Unlike strategic objectives, which tend to be more big picture-focused and long term, operational objectives are smaller, bite-sized goals that are more attainable and, when executed properly, can majorly contribute to the achievement of larger goals and your organization’s overall success.

So how can you support the strategic vision of your financial advisory firm using operational objectives?

First, let’s define what exactly we mean by ‘strategic vision.’ A strategic vision is similar to a mission statement, but is more tangible and time-oriented, and helps you to visualize the direction in which your business is headed by describing an achievable future state of your organization. Essentially, it defines the path by which your firm can grow and propels your organization forward, making it a critical first step on the road to bringing your vision to life. Once you establish your overall strategic vision, you can begin to come up with bite-sized goals to move things along.

Let’s break down some examples.

Say one of your larger goals is to generate more leads online. Understanding your goal is a good place to start, but to actually get from point A to point B requires several smaller chronological steps. Using the same example, operational objectives that could help bring this strategic objective to fruition could include implementing various social media channels, creating content on those channels to drive more traffic to your website, building out a new landing page with information geared towards prospective clients, and a drip campaign to nurture those prospects through your marketing funnel. Breaking larger goals into smaller steps can make them feel more manageable, in turn ensuring that progress is continually made.

Another goal could be focused around client engagement. Let’s say you want to increase client referrals. Breaking that down could include operational steps to increase value to current clients. These could include educational events, digital surveys and polls, or social media community building. These three operational examples provide methods for clients to engage with you when they are not meeting with you. This also provides opportunities for clients to share information with friends and family – creating a passive referral channel of sorts.

Now that we’ve shared some specific examples, here are some tips for successfully creating and supporting a strategic vision:

1. Make sure the goals you set are tangible. It’s much easier to keep track of your progress when your goals are clear enough for you to tell when you’ve accomplished them. Creating a set of vague goals is likely to cause more stress than anything.

2. Make sure the goals you set are realistic. While your goals should be ambitious, they should also be reachable. If you set the bar too high, you’re more likely to be disappointed, which can ultimately hinder progress.

3. When setting goals and building your strategy, be sure to keep everything aligned and cohesive. Use your mission statement as a guide so as to avoid any confusion amongst clients, prospects, and employees alike.

4. Don’t be afraid to adapt if necessary. Keeping your goals and plans flexible not only helps to take some of the pressure off, but also increases the likelihood that your strategy will work for you, and not the other way around.

As a financial advisor, you know that a strategic vision doesn’t just come together on its own. In order to bring a vision to life, there are multiple smaller working parts that have function as one. Are you having trouble putting your plans in action and reaching your goals? Beyond AUM can help. We speak advisor, we understand your clients, and we know your business. Our tailored marketing plans are goal-oriented, strategic, and built to support your vision. Get in touch with our team today.