Bette Skandalis

Bette Skandalis is a practice management consultant at Commonwealth Financial Network®, member FINRA/SIPC, the nation's largest privately held Registered Investment Adviser–independent broker/dealer. With the firm since October 2012, Bette works with affiliated advisors on a range of business issues, including business planning, marketing, growth, office efficiencies, staffing, and continuity/succession. She has an undergraduate degree in English from the University of Massachusetts and graduate degrees from the University of Michigan (MA in American culture) and Simmons Graduate School of Management (MBA).

Information about securities-registered professionals may be found at FINRA BROKERCHECK.

Recent Posts

The Dating Game: Seeking the Optimal Continuity Partner

In the Maine Wilderness: What I Learned About Managing Business Risk

8 Potential Risks in Your Financial Advisory Practice

Why We Spend Money We Should Be Saving—and How to Resist the Impulse

Evaluating the Tax Considerations in Buy-Sell Agreements

The Dating Game: Seeking the Optimal Continuity Partner

Posted by Bette Skandalis

February 14, 2020 at 8:15 AM

Having a continuity partner in your practice is important to ensure continued service, staff involvement in the transition, and financial protection for your family in the event you are unable to participate in the business. Without one, you run the risk of creating service disruptions, staff confusion, and unnecessary family stress. Plus, in the event of permanent disability or death when there isn't a continuity agreement in place, fiduciary accounts are stripped of fees and converted to brokerage accounts immediately. In short order, your revenue stream may significantly decline. Ultimately, for an independent advisor, this disruption of income often results in diminished client retention and a business fire sale.

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Topics: Practice Management

In the Maine Wilderness: What I Learned About Managing Business Risk

Posted by Bette Skandalis

September 18, 2019 at 1:30 PM

Threats to the success of a small business are ever-present. Yet many financial advisors haven’t developed an adequate plan for managing business risk. They find out the hard way, through personal experience, exactly why they need one. That’s what happened to me.

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Topics: Practice Management, Risk Management

8 Potential Risks in Your Financial Advisory Practice

Posted by Bette Skandalis

March 20, 2019 at 1:30 PM

Business risk is anything that threatens the continued success of your practice, and it can assume many forms. Unfortunately, many business owners overlook the potential risks that can derail a long-standing business. Why? Generally because they don’t understand the risk, don’t feel the risk is severe, or don’t believe it will happen. But what if it does?

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Topics: Practice Management, Risk Management

Why We Spend Money We Should Be Saving—and How to Resist the Impulse

Posted by Bette Skandalis

January 15, 2019 at 10:00 AM

With the holidays behind us, it’s a good time to explore why we spend money. Heading into year-end, the stock markets were plummeting, wiping out most, if not all, 2018 gains from our equity-based savings accounts. Yet when I walked into my groovy neighborhood gift shop to buy a holiday hostess present, people were lined up for their Curio Spice Aegean Sea salt and Somerville greeting cards for $4.50 a pop. What gives?

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Topics: Behavioral Finance

Evaluating the Tax Considerations in Buy-Sell Agreements

Posted by Bette Skandalis

June 12, 2018 at 10:00 AM

Are you thinking of buying or selling your practice? If so, you are also likely thinking of the material difference that taxes will make in the value of your assets or revenue stream. While you never want the “tax tail wagging the deal dog,” some forethought to the tax implications can help you transact a deal that aligns with your expected net values.

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Topics: Practice Management

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