Mike Van Wyk of Capital Group - Pathways to Business Growth

Orion's The Weighing Machine
Orion's The Weighing Machine
Episode • Nov 2, 2021 • 22m

In today’s episode, Rusty and Robyn talk with Mike Van Wyk, Vice President of Research and Insights for Capital Group.

Mike has studied human behavior throughout his two-decade career to better understand what truly drives consumer behavior and business growth. Whether it be packaged goods or financial services, Mike brings game-changing insights to the table. His research helps others skyrocket the growth of their business or their professional career.

Mike talks with Rusty and Robyn about the difference between a “sage” and “caregiver” advisor and the three success factors of existing high-growth firms.

"Every financial professional has to have a side that's more quant-focused and can talk the numbers, but you also have to be able to connect emotionally with your clients and be there as a support for them. Those who are most successful are those who understand there's an aspect of being a sage that they need to bring to the job daily, and there's an aspect of being a caregiver that needs to be present there as well.” ~ Mike Van Wyk


Main Takeaways 
  • Three success factors of the highest growth firms are the always-on acquisition factor, relationship alpha, and strategic skills. All habits, behaviors, and practices during client engagement should be refined to achieve high performance and increase revenues.
  • Spend more time on high-value business activities. Advisors easily get distracted with small tasks, when they should be spending their time on growth creation.
  • Advisors need help, too. It's best to tap into resources about advisor-client engagement that are backed by robust data.
  • There are two types of advisors: the ‘sages’ who like numbers and the ‘caregivers’ who like helping people. An effective advisor has to find a balance between these two.


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