How institutions can tee-up for success in 2021

January 6, 2021 by Kelton Corcoran

about the author:

Kelton Corcoran

Senior content marketing specialist

Kelton Corcoran is a senior content marketing specialist at Advicent, the financial planning technology provider of choice for nearly 100,000 financial professionals.

Like in business, there are many factors that contribute to good performance in golf. Placement of the ball, adjustments to the weather, and a mechanically-sound swing are all important, but the very first action you take, teeing-up your ball, sets the stage for the path ahead. You can have the best clubs, swing, and course conditions imaginable, but tee-up incorrectly and success will be hard to find.

Amateur golfers, especially myself, will often encounter a “blow-up” hole. One where every shot seems to be off-mark and you have to deal with the unexpected. For some, this is quickly left in the past, but for others, it can plague them for the remainder of the round.

For many financial institutions, the COVID-19 pandemic made 2020 this blow-up hole. In-person client meetings were halted, advisor workflows disrupted, and a volatile economy left investors scrambling to figure out their game plan. Everything seemed to be off the mark and unexpected. Some were equipped to make a quick transition to the new world of business, and some are still putting together the pieces.

Regardless of how well an institution responded in 2020, the start of a new year offers another opportunity to tee-up your ball and be in the best position for success on the road ahead. The tools an institution uses, market conditions in which they operate, and execution of the game plan are all still important, but goal setting and developing a plan are the crucial first move to make.

Whether you are a bank advisor looking to set your own goals for 2021 or a high-level director searching for areas to improve branch workflows, our latest eBook offers three key steps to tee-up for success in 2021 including:

  • Identify business initiatives
  • Pinpoint revenue drivers
  • Identify important foundational work
  • Prioritize your business goals for 2021

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