If you google “client advisory board + financial advisor,” you’ll end up with more than 3 million results from a host of sources you’re probably familiar with: Michael Kitces, Financial Advisor magazine, sponsor companies, and others. Many of these results speak to the power of an advisory board in giving strategic insight on how you can better position your services and grow your firm.

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.

Prospecting is tough. No one really likes to do it, and very few advisors are naturally good at it. If only you could clone your best clients. I hear advisors wistfully mention this idea as they think about the implications of having a practice full of dream clients.

Cloning would be great. But short of that, where else can you find ideal new clients? The answer might be quite literally staring you in the face: your clients’ children or grandchildren.

As a business owner, you will eventually reach the point where you can’t handle it all. If you try to do so for too long, your firm’s growth will surely stall. But how do you determine which tasks can and should be delegated to your team?

Picture this: You own a classic 15-year-old Audi Cabriolet convertible. Through upgrades and solid maintenance, it seems to improve with age—until it doesn’t. Eventually, the electronics go awry, the door handle comes off, the top won’t go down, and the transmission fails. Resale value? Close to zero. If you were your own client, you would have told yourself to sell a few years ago in order to maximize value—before the inevitable march of declension.