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

Recruit the Right Advisor for Your Firm in 5 Steps

Posted by Kristen Terpstra

June 18, 2019 at 10:00 AM

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.

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Topics: Practice Management

A Reminder to Communicate with Clients in Volatile Times

Posted by Joni Youngwirth

May 21, 2019 at 10:00 AM

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.

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Topics: Practice Management

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