Knowledge and Insight
Take advantage of the wealth of information in the Knowledge and Insight Digest. Read curated and organized industry articles.
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Time to take a cold, hard look at your website
Added on March 2014 in Manage Your Practice
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Summary: When it comes to reshaping your practice, there are a lot of loose ends, but there's one that most advisers put off year after year — their website. I've seen it: the stock photography from 1985, that goofy animated banner, and those crooked pages that no one bothered to fix. And that's looking past the fact that there's really not much on there (other than your phone number and your address) that is really of value to visitors.
Advisors: HR Disasters to Avoid
Added on March 2014 in Manage Your Practice
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Summary: It’s a common occurrence: Financial advisors hire the wrong person and then suffer the consequences to their practice. This may be somewhat surprising, as wealth management is a highly regulated field that requires extreme prudence and extensive due diligence. Nevertheless, hiring miscues abound, resulting in everything from internal friction to employee theft and disaffected clients.
What Makes a Firm Great?
Added on March 2014 in Manage Your Practice
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Summary: Goal setting can have a significant impact on your firm's future organization and success. Yet traditional, rational economic theory suggests goals should focus on relatively short-term strategies - specifically, those related to expanding your business in order to make more money. This concept is deeply ingrained in our capitalist system. Business goals that are too narrowly focused, however, or have too short a time frame can create impediments to becoming a great company. How should companies change their decision-making process to propel them to enduring success? Savant Capial Management has some suggestions.
You have found your first CPA partner … Now what?
Added on March 2014 in Manage Your Practice
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Summary: Now that you've made the decision to form a revenue-sharing relationship with an accountant, attorney, a P&C firm, or a bank/credit union professional partner, you are undoubtedly thinking about the first steps you should take in establishing this new relationship.
Don't Waste Time on Unfocused Marketing
Added on February 2014 in Manage Your Practice
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Summary: Marketing is a necessity for financial advisors, no matter how big your brand is or how much you manage, according to Beverly Flaxington, a practice-management coach in Medfield, Mass. The reason? “Because everybody Googles,” says Flaxington. “Before anyone calls you, they do a search, and if you’re an advisor who’s not getting found in Google searches, if you don’t have a functional and updated website, if you’re not seen online being quoted in articles, then people will wonder what’s wrong with you.”
