Which comes first, your tools or your trade?
If you’ve excelled for decades in the affluent or super affluent marketplace, the quality of your technical intellectual capital goes without saying. Except that it doesn’t. You have flow charts and financial models, old-school white boards and powerful technology. When a prospect comes through your door for the first time, or a longstanding client returns for that next big life-with-wealth challenge, you’ve got oodles of proof. Pictures and words on paper quantify the value of your Craft Capital, making their buying decisions tangible.
If a professional peer asked you how your intellectual capital stands apart, how would you answer? Many would reference their Craft Capital: advanced expertise in the affluent marketplace, planning processes, technical strategies, investment philosophies and methodologies, insurance expertise, proprietary products or bleeding-edge technology.
Great firms have a natural inclination to sharpen these tools. Investing in education, designations and technology, you twist and turn the dials of the machine. You also take great care in how you communicate this capital. Simple, elegant flow charts and plain-English summaries help prospects and clients absorb their choices.
These tools of your trade are crucial, yet they only tell half the story.