Monthly Archives December 2017

New Year’s Resolution for 2018: Think Small

Often when we think about our business goals for the New Year, we start planning ways to add more clients to our roster. This year, consider paring down your practice and serving only your best clients.   A recent article in ThinkAdvisor1 says: 1. Fit matters, because “problem” clients sap your energy, your employees’ energy and your resources. 2. Clients who are too small will not generate enough revenue to cover their servicing costs. 3. Clients who are too big will not be served adequately with your level of support. “All of these factors can lead to lost revenue. That
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Categories: Blog Posts.

When It Comes to Succession Planning, Follow Your Own Good Advice.

Business structure, valuation, planning and documentation are important.  According to a recent article1 in Investment News, many advisors are expecting to sell their business to fund their retirement, yet they aren’t properly prepared to do so. While most have become successful because of their own hard work, training and skills, financial advisors aren’t necessarily knowledgeable when it comes to entrepreneurial business issues. (This isn’t much different than the typical doctor, lawyer or dentist.) As Investment News put it: “The difference between a practice and a business, which is worth three to five times more than a practice, is that with
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Categories: Blog Posts.