How to Ask Clients for Feedback—and Act on It

Posted by Maria Considine King

June 13, 2018 at 1:30 PM

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.

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Topics: Practice Management

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

Keeping It in the Family: Managing Client Relationships for Longevity

Posted by Kristine McManus

May 16, 2018 at 1:30 PM

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.

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Topics: Practice Management

Finding the Balance: How to Delegate Effectively

Posted by Kristen Terpstra

May 15, 2018 at 10:00 AM

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?

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Topics: Practice Management

A New Look at Succession Planning for Financial Advisors

Posted by Bette Skandalis

May 9, 2018 at 1:30 PM

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.

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Topics: Practice Management

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