Finding a Work-Life Balance in a Strange New World

Posted by Maria Considine King

May 13, 2020 at 11:00 AM

Over the past month or so, the Practice Management team here at Commonwealth has reached out to our advisors across the country—particularly those in COVID-19 hot spots—to check in and hear firsthand how things were going. Of course, we wanted to make sure they were taken care of from a business standpoint. But, more important, we hoped to start conversations about their personal well-being.

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Topics: Practice Management

A Security Checkup for Your Home Work Environment

Posted by Mike Bistis

May 6, 2020 at 11:00 AM

How secure is your remote work environment? This question has always been important, but since the COVID-19 pandemic, constructing a proper home office with up-to-date security standards is more critical than ever. Even when shelter-in-place restrictions are lifted, many of us will err on the side of caution and continue to work remotely.

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Topics: Information Security, Practice Management

Avoiding Advisor Burnout: Tips for Stress Management

Posted by Angela Sarver

March 18, 2020 at 11:00 AM

Given the escalating public health crisis, we're all feeling a great deal of stress as we try to handle new challenges in our personal and professional lives. This is certainly true for advisors, many of whom are undoubtedly overwhelmed with the need to manage clients’ rising concerns—even panic—about the current financial turmoil and drop in their investments. The markets have been fluctuating wildly, and media headlines are stoking fears of a recession. No one can say for sure how the economy will be affected in the coming months, but right now the uncertainty and fears are real.

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Topics: Practice Management

How to Grow Your Advisory Practice: Joining Forces

Posted by Kristine McManus

March 11, 2020 at 11:00 AM

When I speak with advisors about their vision for their practice, the topic of growth frequently comes up. The desire to grow one’s firm seems to be universal at most stages of an advisor’s career. But the best way to achieve momentum—and success—is different for everyone.

To gain insights on growth strategies for financial advisors, Commonwealth held a panel discussion at our National Conference in October 2019. There, a group of top Commonwealth advisors talked about the choices that propelled their success, as well as the opportunities and challenges they faced along the way. Each speaker’s story conveyed the depth of expertise, passion, and humor needed to initiate and maximize business growth.

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Topics: Practice Management

Building Economies of Scale in Your Financial Advisory Firm

Posted by Kenton Shirk

March 4, 2020 at 11:00 AM

Many large firms (i.e., those that have surpassed $1 million in revenue per lead advisor) face a common struggle: managing the size of their client base. When you find yourself at this critical point, activities like strategic planning and business development tend to fall by the wayside. Fortunately, there are steps you can take to get back on track and start building economies of scale in your financial advisory firm.

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Topics: Practice Management

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