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The Markets Monthly Review (As of 7/31/19)

Stocks ran hot and cold in July, influenced by worsening global economic conditions, ongoing trade negotiations with China, and lagging domestic business investment. While the Fed’s decision to reduce short-term interest rates was not unexpected, stocks were sent reeling, closing out the month on a bit of a sour note. Despite analysts and Wall Street predicting the interest rate reduction, some experts questioned the timing, particularly in the event of a deeper economic downturn in the future. Corporate earnings reports in July were generally positive, driving stock prices higher. Low unemployment, increased consumer spending, and moderate wage increases helped insulate domestic investors from an otherwise global economic downturn.

By the close of trading on the last day of the month, only the Global Dow was unable to surpass its June closing value. Otherwise, each of the benchmark indexes listed here posted monthly gains, led by the Nasdaq and the S&P 500. Year-to-date, the tech stocks of the Nasdaq continue to lead the way, climbing over 23% above their 2018 closing mark. In fact, each of the benchmark indexes listed here are well above their end-of-year values. While long-term bond yields inched up in July, for the year, escalating bond prices have kept yields down.

did you know?

Fifty percent of sales happen after the fifth contact; however, the average sales rep only makes two attempts to reach a prospect, and 44% of salespeople give up after only one follow-up. Check out these additional sales stats and fun facts to understand the critical importance of persistence and consistency in your efforts:

  • Checking items off a to-do list actually releases a small amount of dopamine to help motivate even more success.
  • High growth organizations report an average of 16 touchpoints per prospect, within a 2-4 week span.
  • It takes an average of eight cold call attempts to reach a prospect. In 2007, this average was 3.68.
  • At any given time, only 3% of your market is actively buying; 56% are not ready, while 40% are poised to begin.

Source: Zoominfo, FacileThings

bright ideas
7 Traits of Highly Successful Advisors

From a love of numbers to the growth potential of being your own boss, there are a number of reasons people choose to pursue the profession of being a financial advisor. However, there is a high volume of turnover in our industry, including both short-lived and stagnated careers. Whether you are looking for ways to take your business to the next level, or perhaps defining characteristics to consider when bringing on a junior advisor, keep the following seven traits of highly successful advisors in mind:

1) The right attitude. Possibly the single most common reason for burnout in our industry is taking rejection personally. Having the right attitude for this business requires a dedicated focus on the controllable. You can control your education, your efforts, your output. You cannot control the outcomes or people’s reactions to your efforts. Focus your energy on what you can control, and let go of everything else.

2) Is persistent. The statistics are overwhelming: most salespeople give up far too early in their follow-up efforts to reach the final “yes.” There will be plenty of setbacks, no shows and just plain “no’s” paving the road of a financial advisory career. It is the successful advisors who keep going.

3) Maintains consistency. The freedom and challenge of being an entrepreneur is the necessity to create and complete work consistently. It requires great discipline and focus to create a to-do list of meaningful tasks that break your goals into daily, weekly, monthly and quarterly achievements. Identify your key activities, make a schedule, and stick to it. This consistency of output leads to consistency in results, which helps get past feast and famine lifestyle that can come from a career in sales.

4) Is system oriented. Systems are the key to efficiency, productivity and accuracy. Avoid missed details, forgotten call-backs and any number of setbacks from being disorganized by creating and following systems for your daily procedures. As we have shared in a previous issue, the power of a great checklist can redefine your business and is an absolute necessity for a successful advisor.

5) Is improvement obsessed. Top producing advisors are always trying to do things better and competing with their own success. From reading self-improvement books and blogs, listening to podcasts and webinars, and attending conferences, it is essential to both self-reflect on areas you can improve and to dedicate time to make it happen as part of your scheduled routine. The world is constantly changing, and standing still means getting left behind.

6) Is a creative problem-solver. A successful advisor is able to take what works and maintain an open mind to continue to improve upon it. From prospecting methods to business management, never be afraid to ask, “How can I do this differently to improve my results?”

7) Cares about people. The final necessary ingredient to a successful advisor is having an honest passion for helping people and an ability to convey this connection. Even more than being an introvert or extrovert, this requires empathy and active listening skills. Refer back to our previous issue on behavioral selling for more tips on improving these communication fundamentals with various personality types.

Looking for more resources to improve your financial practice? Contact your wholesaler today to discuss how Beacon can be of help.

beacon news

The Wealth Advisor: “Beacon Capital, New Member of America’s Best TAMPs, Offers Advisors Service for the Elite”

Investor’s Business Daily: “’Catastrophic’ Stock Market Volatility Coming, Says Top Advisor Chris Cook”

Beacon Capital Management Named to Inc. Magazine’s 5000 Fastest-Growing Private Companies for Third Consecutive Year

Be sure to visit Beacon’s News & Press page for the latest credibility pieces to share with your clients and prospects, and follow Beacon on LinkedIn for the latest updates as they happen.


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For Advisor Use Only, Not to Be Used With Clients

The GIPS Compliant Presentations for our Vantage portfolios can be obtained by clicking on the below link.  If you would like the Compliant Presentations to be emailed directly via PDF file or if you would like to receive a copy of Beacon’s Composite Descriptions; please respond to this email or contact Beacon at 937-439-9093.

BCM 2017 Compliant Presentations

Beacon Capital Management, Inc. is a registered investment adviser with the Securities and Exchange Commission. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and unless otherwise stated, are not guaranteed. Past performance is not indicative of future performance.

Additional information about Beacon Capital Management is also available on the SEC’s website at under CRD number 120641. Beacon Capital Management only transacts business in states where it is properly registered, notice filed, or excluded or exempted from registration or notice filing requirements.

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