Scary title, huh? If there's one thing in the FA world you're not allowed to do, is to guarantee results. No one can guarantee that you'll find the perfect ad agency either. However, if you follow a few simple rules, you'll increase your chances of having a great relationship with your agency and help your business grow.

Remember, creative types aren't like most FAs. Let's look at some ways to make sure you have a great fit with an agency:

1. Kick the tires - Get references! Most of your clients were referrals…same with ad agencies. Find out who they've worked with that you can call. Ask the tough questions.
2. The “A” team presents, the “C” team does the work - For a lot of agencies, the thrill is in the hunt. If you get the big guns at the initial presentation, are these the same people who will be hands on with your account? Get it in writing.
3. Compliance? FINRA? 66? If the agency you talk with thinks that these mean:
   1. Listening to your spouse
   2. A Jimmy Buffett reference
   3. An abandoned highway
   it might be time to find another agency. If the people you're talking with have absolutely no idea how compliance works or the restrictions you're under, don't let them learn on you.
4. It's not about the money. Really, it's not. How do you price marketing? - A good way to get started is with a 3-month retainer. Nobody but an agency (and lawyers) likes hourly billing. If you've never seen an hourly bill from an agency, it's really a thing of beauty. It seems like everyone in the firm had a piece in creating your simple ad or brochure. Fractions of hours for copying documents. Bits of time for people you've never met, and the principals (read: the folks with the highest billing rate) are always on there as “consultants.” Decide on a monthly rate that you're comfortable paying and make them stick to it. Of course you'll get it in writing.
5. Double dipping. If you're paying a retainer, ask to have the printing bills sent directly to you. - One of the dirty little secrets of the ad business is a nefarious practice called “double dipping.” Here's how it works…you pay a healthy monthly retainer, then the agency marks up printing 15 – 20%. They get paid twice for one job. Ethical? We think not. Oh…your agency won't agree with this? Find another agency.
6. "I'm not like every other FA. My practice is different and I'm looking for pre-retirees with $500,000 of assets to invest." - Not very original. Be extremely direct about your goals and niches you can own. Remember, if you don't know where you're going, any road will get you there. Make sure you have an initial meeting to clearly define what you're trying to do. And remember, marketing isn't all about creating one ad that will have people lined up outside your door. It includes how your phone is answered. What members of your team say about your group to the public. The boards and volunteer committees you serve. Your agency needs to know everything you're doing so they can effectively plan the next steps.
7. Can you find people at the agency quickly? - If the people you're trying to reach seem like they're in the Witness Protection Program, you might have the wrong agency. You tell them how much contact you'd like. Weekly status call? Quick email when something interesting is going on? You get that up front, and in writing.
8. Communicate often. - Most accounts are lost due to neglect, not something deliberate. If something is on your mind, let the agency know. We're not mind readers, so the direct method is best. Pick up the phone and let us know how we're doing. And if it's not great, let's find a way to fix it, or part ways before it gets ugly.

Let's sum up...ad agencies aren't like your practice. They work best with open communication, fee-based rates rather than transactional payments, a phone that gets answered, defined goals and the opportunity to prove themselves over time. Hmmmm, maybe we're not so different after all.

Wow, great question. Lots of people think that creating a brochure or a newspaper ad is marketing. You get one created, clasp your hands behind your head and wait for the business to fly in the door. If it were only that easy. Consider these other facets of marketing:

1. How is your phone answered? Try calling your office from a phone number your receptionist won't recognize. Were you holding on for 12 rings? Did he/she immediately say, “Will you hold?” before being forced to listen to Kenny G for 10 minutes? This is the first impression potential new clients have of your firm. It's marketing.
2. Are you involved in the community? Every time you hand out a business card or give your elevator pitch, you're making a statement about how you conduct your business. It's marketing.
3. Are you aligning your passions outside the office with your marketing goals? Huh? Think about it…if you can combine what you love doing with what you're great at professionally, you can't lose. It's marketing…and it's what we love to help practices do.

The name is inspired by Mott the Hoople -- simply the greatest band to ever take the stage. The band was comprised of main members (Ian Hunter, Dale Griffin, Overend Watts) and a rotating number of specialists that came and went, depending on the needs of the team. That's how we operate, too.