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

5 Features of an Ensemble Practice

Posted by Kenton Shirk

September 17, 2019 at 10:00 AM

Across the industry, interest in forming multiadvisor firms has grown. According to Cerulli Associates, 55 percent of advisors now operate within a team. The trend is even more pronounced for large firms: of advisors operating within a practice managing $500 million or more in AUM, 93 percent are part of a team. But while the term “ensemble” has become en vogue to define this new business model, it doesn’t always apply—different models exist within the industry, and there are several defining features of an ensemble practice that must exist before a business can truly be considered an ensemble.

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Topics: Practice Management

Rethinking Practice Management Fundamentals for Advisors

Posted by Kenton Shirk

August 20, 2019 at 10:00 AM

As advisory firms have become larger and more successful, they’ve also become structurally complex—and their objectives, needs, and challenges have evolved, too. To continue to thrive, firms need to be able to respond to shifts in the landscape. But what’s the best way to gain competitive advantage? How have growth strategies for financial advisors changed? Let’s consider four practice management fundamentals for advisors today:  

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Topics: Practice Management

10 Best Practices for Developing a Human Resources Strategy

Posted by Angela Sarver

July 30, 2019 at 10:00 AM

When you hear the words “human resources,” do you want to run for the hills? If so, you’re not alone. For many advisors who have gone the independent route, human resources is often where they have the least experience. But when you have the right employees, doing the right jobs, you can create a more efficient, profitable, and scalable practice. So, to help you tackle this important facet of your business, I’ve compiled a list of 10 best practices for developing a human resources strategy.

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Topics: Practice Management

Ready to Grow Your Advisory Business? Try These Actionable Ideas

Posted by Kristine McManus

June 19, 2019 at 1:30 PM

So, you want to grow your advisory business—that much you know. But where should you begin? It all depends on where you are now and how quickly you want to achieve the growth you envision. To help you get started, try one (or more!) of the actionable ideas below.

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Topics: Practice Management

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