August 2, 2019




I was at the doctor’s office this week.  I am fortunate to be very healthy, so I am seldom there.  As I went through the process of a thorough check-up, I thought about how many things we Advisors could learn from an HMO.


First of all, I wasn’t there because I was sick or broken, I was there because it was time for a check-up.  They told me it was time for a check-up, it wasn’t something I had to keep track of.


They had a list of things they wanted to cover with me based on my age and how long it had been since my last check-up. 


They didn’t just ask, "How can we help you?"  They told me what I should be doing at this point in my life.


The took me through their standard process, but as we went, they asked lots of questions and gave me the opportunity to share any concerns that I might have.


At each decision point, they made a clear recommendation and then verified that I wanted to proceed.  They didn’t offer more three options or ask me what I thought they should do for me.


When it was time to conclude our meeting, they gave me an outline of what we did.  Reminded me of what I still needed to do and then they lined everything up for me to head down to the lab for a quick blood test before I headed out. 


It was quick, efficient, friendly and just really easy!


There is so much we can learn from Health Maintenance Organizations.


First of all- what is the objective of their work?  Is it simply to fix those who are broken or is it intended to keep people healthy?


Our objective as Advice-based Advisors is to help clients get their financial life in order and keep it that way.  They don’t just come to us when something goes wrong, they come to us to keep things from going wrong! 


Second- HMOs have client service models.  A woman of my age should have these things checked and should have health indicators within these parameters.  The HMO reached out proactively and facilitates that work being done.


Advice-based Advisors know what needs to be addressed in a client’s life and have a clear process to ensure every aspect of their financial plan is checked and fine-tuned regularly.


Third- doctors and nurses are directive.  They tell you what they believe you need to do.  They ask you if you have any questions, then seek permission to proceed. 


Advice-based Advisors don’t give three options and let them pick.  They don’t suggest planning ideas.  They recommend what they believe to be the best solution, get client feedback and adjust as needed.


Fourth- HMOs offer fully integrated solutions.  If you need blood work, they send you to the lab.  If you need to see a specialist, they guide you towards one. 


Advice-based Advisors may not have everything in-house, but they are fully networked.  They know what their clients need on a regular basis and they seek to have several proven options in each area.  They don’t give recommendations and they say good luck, they do a proper hand-off to make implementation easy.


Finally- HMOs don’t nickel and dime you for the basics.  They know that coming in regularly for basic services will allow you to stay healthy and cost them less in the end. 


Advice-based Advisors know that seeing their clients regularly is the key preventing problems and solving those that arise swiftly and efficiently.  Regular client contact (2+ times a year) allows the advisor to be proactive to changes in the client’s life.  They don’t charge extra for the time required to  do good work.


We want our clients walking away from our practices thinking to themselves how grateful they are for their Advice-based Advisor who delivers an efficient, timely, proactive service that keeps their entire financial life in order.


Advice-based Advisors are always questioning the status quo and looking outside the industry for new ideas to help them serve their clients better.


With Purpose,




Are you an Advice-based Financial Advisor?  Or do you want to be?  If so, I invite you to join us in the TIA Mastermind Facebook Group specifically for financial advisors who want to be of service, challenge the status-quo and run a purpose-driven practice.


See you in the group!  https://www.facebook.com/groups/TIAMastermindGroup/





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