9 ways to plan for the 2013 year endBlog added by Russ Wagner on December 3, 2013

Russ Wagner

West Des Moines, IA

Joined: January 19, 2009

Year end is upon us, and for those that haven’t already, now is the time to begin setting the stage for Q1 2014.

To begin generating activity that will flow into Q1 2014, it is necessary to implement a strategy that you can work into your day and week. Here are nine practice management techniques that will accomplish that goal.

1. Begin scheduling your seminars now for 2014.

2. Call three clients per day and tell them how much you love doing business with them. Reiterate what you have helped them accomplish and then say, “I love doing business with you; do you know anyone who would benefit from a relationship like the one you and I have?”

3. Invite three clients and their friends to a brunch to discuss 2014.

4. Poll and/or mail your clients about what groups, clubs and associations they belong to. Ask if they ever invite guest speakers to their meetings. Offer to be a guest speaker and, in return, you’ll buy them lunch.

5. If you're doing taxes, then call your tax clients to schedule a pre-tax appointment and/or a year-end interview. Discuss 2013 IRA contributions, charitable giving, the low interest rate environment and a possible market correction. If you are Series 65 licensed, then pivot to the fiduciary responsibility, especially if they don’t know about it yet.

6. Start a group of the month program. If a client's group is chosen, they will receive a "lunch and learn."

7. Schedule annual reviews for all your top clients.

8. Begin pulling clients who have birthdays within the next 30 days. In general, people make large financial decisions 30 days before and after their birthday. This should be a standard procedure at the beginning of each month.

9. If you are an IAR, now may be a good time to take some money out of risk and into safety. If you began a 70/30 plan, that plan may now be 60/40 due to the increase in the market.

See also:

Year-end estate tax planning

12 year-end financial ideas to make the yuletide merrier

Strategies to maximize the year-end exemption windfall
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