Manage Your Practice
Collect your thoughts. Learn how other owners address their practice management challenges.
All Articles
Want Sustainable Advisory Firm Growth? Automation Is Key
Added on March 2014 in Manage Your Practice
1 visitor like this article | Viewed 4091 times | 0 comment
Summary: A white paper released by SEI Advisor Network and ActiFi Inc. in March challenged advisors to integrate technology and automation more efficiently in order to run a more successful practice. Far too often, knowledge about client relationships and key processes resides in the heads of one or two people. The business risks are high, especially for growing firms, as balls get dropped, client service suffers and onboarding new employees is virtually impossible,” says the paper, authored by SEI’s Raef Lee and John Anderson, and ActiFi’s Spenser Segal.
Voices: Dave Polstra, on Realizing the Limits of Your Expertise
Added on March 2014 in Manage Your Practice
1 visitor like this article | Viewed 4419 times | 0 comment
Summary:One of the most useful lessons I've learned during my time as an adviser to corporate executives is the importance of developing an area of expertise. It's one of the founding principles that my partners and I operate on as a firm and it's a good concept for us to remind ourselves of as advisers: You cannot be all things to all people.
Making a 'Lifestyle Practice' Work
Added on March 2014 in Manage Your Practice
1 visitor like this article | Viewed 4455 times | 0 comment
Summary: Lifestyle practices get a bad rap. But one of my main goals when starting my RIA was to build a business and a life that met my needs. I’m taking some steps that intentionally provide balance to both sides -- and encourage you to do so as well. Here are a few strategies that are working for me.
Prepare to be patient if you aim to serve wealthy business owners
Added on March 2014 in Manage Your Practice
2 visitors like this article | Viewed 3921 times | 0 comment
Summary: The nation's business owners are an affluent bunch and they require a broad swath of services from a financial adviser — but the potential pay-off to advisers may be many years down the road. About one-third of the nation's wealthy investors, those who have $1.5 million or more to invest, are business owners, and that proportion jumps dramatically as wealth level rises, a new study finds.
Time to take a cold, hard look at your website
Added on March 2014 in Manage Your Practice
1 visitor like this article | Viewed 3947 times | 0 comment
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.
