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.

Hiring an advisor is similar to acquiring a client: both require you to identify, attract, qualify, interview, close, and assimilate him or her into the practice. While you likely have an ideal client profile that lays out traits (e.g., occupation, net worth, personality) of individuals you most want to work with, I bet you don’t have the same document for an advisor joining your firm. If you’re planning to expand, here’s how to create one and use it to recruit the right advisor for your firm.

Though it sometimes seems otherwise, the financial crisis wasn’t that long ago. Baby-boomer clients were 44 to 62 years old in 2008; they’re 55 to 73 years old today. And they still make up the majority of most advisors’ clients and assets. But even though the demographics and net worth of your client base may be similar, the market gyrations in late 2018—and more recently with renewed trade tensions between the U.S. and China—don’t seem to have resulted in the same level of anxiety among your customers as they did back then.

Compliance is a critical function for financial advisory firms, and its importance will only increase as industry regulations become more complex. Ultimately, responsibility for compliance oversight rests with you. But given the growing demands you face, would it make sense to hire a chief compliance officer (CCO)?

If you’re a next-gen advisor, chances are you started out doing a lot of things for your firm that no one else wanted to do. Maybe you had to sign for packages or sit on phone duty. You likely stuck with it, knowing that learning the business from the bottom up can set an advisor up for success. But getting to the point of success can take a while and may involve working with prospects who don’t seem like they would bring significant value to the firm.