ient and creative in facing rejection andother business problems. Positive feelings can make us more open to seeingnew possibilities when solving problems. Our good feelings also can radiateto prospects, making them less adver-sarial and more open to our message.
Positive feelings include appreciation, amusement, compassion, joy andinspiration.
The ratio has to be carefully calibrated. You sometimes need negativeemotions to identify and address problems. Otherwise, you’ll be in a world ofself-delusion.
Pink cites one top-performing
salesman who regularly visits satis-
fied, long-term customers. He makes
sure to sprinkle affirming experiences
when visiting existing clients through-
out his day.
5. OUR EXPLANATORY STYLE CAN
MAKE US MORE RESILIENT.
How we view negative events has a profound effect on our ability to persist inthe face of adversity. The more we canexplain difficult events as temporary,specific and external, the easier it will befor us to rebound, says Pink.
Was your presentation off becauseyou were sleep deprived — a temporarycondition — or because you just aren’tpersuasive?
Are all new prospects just impossibleto deal with, or was this one case particularly challenging due to a specificissue? Was your delivery awful, or wasthere an external issue — i.e., the prospect just wasn’t ready?
Pink even says you should trackweekly rejections and then celebratethem. Despite the rebuffs, you’re stillstanding!
Viewing setbacks as learning experiences and believing in our ability toultimately overcome them helps us staypositive and resilient.
Mark Elzweig heads executive recruiting firmMark Elzweig Company in New York.
Focus Financial and Orion Form Joint Venture
Focus Financial Partners and Orion Advisor Solutions haveformed a joint venture that’s set to add a range of cash andcredit solutions to Orion’s Wealth Tech platform. It builds ona relationship that Focus Client Solutions, a subsidiary of RIAaggregator Focus Financial Partners, has developed with agroup of banks and nonbank lenders working with its 71 partner RIA firms, which manage over $200 billion in client assets.
The news is significant as an industry development, since
“it’s about tying banking to advisors, and it’s long overdue,”
said Joel Bruckenstein, head of Technology Tools for Today.
“Everybody in the industry talks about margin compression
and the future of the business. This solves for it. It’s another
way for advisors [and firms] to make money, and … it builds
on their existing client relationships.”
There’s a competitive advantage for advisory firms that
loan investor clients money, Bruckenstein points out. “Then
integrating this [information] fully and seamlessly into finan-
cial planning software — putting all that data into advisors’
hands — also is a big deal.”
Focus Client Solutions was “originally created only for
Focus partners a little over a year ago,” according to Focus
Financial Chairman and CEO Rudy Adolf. It’s a “tried and
tested program.”
The offering gives RIAs the ability to “truly provide holistic
advice” for ultra-high-net-worth and high-net-worth clients
“to really manage their total balance sheet in a highly sophis-
ticated way,” he explained. Plus, the value-added capabilities
tend to be “way superior [to] what a traditional private bank
For the roughly 30,000 advisors with some 2,400 firms
using Orion’s platform, the deal means access to lending and
cash management capabilities, such as various FDIC-insured
deposit programs at competitive rates for clients’ portfolio
cash and held-away cash balances.
Lending options include securities-backed and insurancepremium finance lines of credit, commercial and businessloans, residential and commercial mortgages, and air andwatercraft financing.
Advisors working with Orion have about $1.4 trillion inassets under administration, according to CEO Eric Clarke.Also, there are some $47 billion of assets under managementon its turnkey asset management platform after its recentmerger with Brinker Capital.
About 50–75 advisory firms will have access to the servicesthrough the Orion platform in a beta program starting at theend of the first quarter. A full release is planned for the second quarter, when all advisors using the Orion platform willbe able to access the capabilities, Clarke explained.
Orion expects the joint venture will include a robust,end-to-end experience for advisors and clients. Oncethe joint venture’s services are fully integrated into theOrion platform, advisors will be able to connect a client’scash deposits and loans to their financial plans throughOrion Planning.
“Ultimately, advisors will be able to monitor and reporton a client’s entire financial portfolio through Orion’sdynamic reporting capabilities,” the companies said in theannouncement. —Jeff Berman
