Penny Phillips - Unlocking the Power of Practice Management for Financial Advisors: Boost Efficiency & Client Satisfaction
This week on Standard Deviations with Dr. Daniel Crosby, Dr. Crosby speaks with Penny Phillips. Penny Phillips has spent most of her career coaching and consulting financial advisors, business owners and wealth management institutions. She is the co-founder and President of Journey Strategic Wealth, a Registered Investment Adviser built for advisors seeking independence and full-fledged practice management support. Prior to founding Journey, Penny ran a consulting and coaching firm called Thrivos Consulting, and prior to that worked in various leadership positions across the financial services industry. She has authored multiple practice management training programs focused on helping financial advisors prepare for the next generation of wealth holder and has coached hundreds of financial advisors. As an industry speaker, she has spoken at financial services conferences across the US and Canada. She currently runs a weekly YouTube series called “Practice Management with Penny.” On a personal note, Penny is an advocate for the advancement of women in the financial services industry, and public education. She currently sits on the Board of her alma mater the Macaulay Honors College at CUNY. She has dual degrees in Economics and Corporate Finance and a certification in Advanced Behavioral Analysis. Penny was born and raised in New York City, is of Greek descent and speaks fluent Greek.
Standard Deviations with Dr. Daniel Crosby · Dr. Daniel Crosby, Penny Phillips
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Show Notes
- As someone who works in practice management and as a trainer, how does Penny get advisors to embrace the power of practice management when there are plenty of advisors who are financially successful who are violating all the best practices?
- If Penny created her own top 25 advisor list, what criteria would she choose to decide who belongs on that list?
- What are some practical means of gaining psychographic insights into clients’ and is there a framework one can use when thinking about clients’ psychology?
- Have the psychographics of the average client changed over the past 18 months? How have they shifted if so?
- In a sea of 300,000 advisors, what are some pragmatic ways you can stand out from that pack?
- What is Penny’s spiciest take on how the industry will change in the coming years?
- People really struggle to confront their own mortality. With such a great psychological hurdle at the crux of the conversation, how do you get anyone to plan for succession?
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Compliance Code: 2643-OAS-10/13/2021