Jim L. McEnerney, Director of Marketing for The McEnerney Group, has been in the financial advisory game for years, and he’s got the experience and skills to prove it. Out of all his accomplishments associated with financial advising, mastering the Supernova Model and subsequently introducing it to districts all over the country is among the top.
Jim L. McEnerney worked for the prestigious Merrill Lynch (now known as simply Merrill, legally known as Merrill Lynch, Pierce, Fenner & Smith Incorporated), a wealth and investment management company. Working for Merrill Lynch, Jim L. McEnerney was the recipient of the Downey’s Award, promoted to the Midwest region “A” team, and received a performance rating of “far exceeds requirements”.
The Supernova Model, Jim L. McEnerney explains, was first implemented by financial advisors of Merrill Lynch. Rob Knapp, the leader of this movement, went on to author two books on the subject: The Supernova Advisor, and The Supernova Multiplayer: 7 Strategies for Financial Advisors to Grow Their Practices.
In a nutshell, the Supernova Model, Jim L. McEnerney clarifies, is about reducing the number of your clients based on the 80/20 principle: 80% of a company’s profits come from 20% of their clients. Going along with this line of thinking, the focus should be made on that 20 % of clients in order to maximize the amount of profit you can obtain from them. This isn’t to sound too impersonal, Jim L. McEnerney says: by placing your focus on a smaller amount of clients, you gain the opportunity to build longer-lasting, more solid relationships with them based on trust and continued business.
In shifting your company’s focus, Jim L. McEnerney tells us, there must come a sacrifice. You can’t expect to retain the same number of clients while deciding to ignore a large portion of them-following the Supernova Model, you’re expected to drop a significant portion of your clients in order to properly refocus your efforts into your quality clients. This may seem a bit counterintuitive, Jim L. McEnerney admits: having fewer clients just doesn’t sound ideal for a company on paper. However, when you realize the name of the game is quality over quantity, and begin to see real financial successes based on these changes, you’ll have no doubt in your mind that the Supernova Model actually does work wonders.
The Supernova Model also extolls the 12/4/2 contact rule, Jim L. McEnerney teaches. This rule states that each client should have at least 12 scheduled contacts per year, with 4 of those contacts involving quarterly reviews, and at least 2 of those contacts being face-to-face meetings.
Of course, there’s a lot more to it than this simple explanation, but the basic gist of it is easy to grasp. Having introduced this business concept to districts country-wide and witnessed the fruits of his labor for himself, Jim L. McEnerney is proud to say he is a huge proponent of this system.