Alex Potts’ unique role has allowed him to watch hundreds of financial advisors build their own firms. Alex knows the ones who will flourish and what they have in common: A very clear purpose in what they’re doing, and they stay out of their own way.
Alex Potts, president and CEO of Loring Ward Group Inc., an investment and wealth management firm managing over $13 billion in assets, has been hugely successful in his business by applying simple and practical solutions that will work for you as well. He stresses that you needn’t spend too much time counting the money; rather it’s about figuring out how to do the right thing for your clients.
Today he shares fundamental principles of successful investment including the proper role of diversification and risk. He also challenges you as an entrepreneur looking to grow your business that in order to scale up successfully, you have to find people who can carry out the core purposes of your business better than you can yourself.
App of the Day
Book of the Day
- Man’s Search for Meaning – by Viktor E. Frankl
- The Fifth Discipline: The Art & Practice of The Learning Organization – by Peter M. Senge
- The Score Takes Care of Itself: My Philosophy of Leadership – by Bill Walsh
- Loring Ward – A Better Wealth Experience
John’s 3 Key Take-aways
- Make smart decisions about your money. Draw on research from academic institutions rather than private industry to provide more objective, more numerous opportunities for finding investment solutions. Then, apply principles of adaptive learning.
- In scaling up, it’s not only about making more money. It’s about doing a great job and providing value for your customers/clients. The money will follow if you do a great job and provide value.
- Focus on the core purposes of your business. Then find the right people who can execute those purposes better than you.
Read the Transcript
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