Manage Your Practice
Collect your thoughts. Learn how other owners address their practice management challenges.
All Articles
How RIAs are becoming as complacent as wirehouses -- and what it'll take to snap out of it
Added on October 2013 in Manage Your Practice
1 visitor like this article | Viewed 5169 times | 0 comment
RIAs have been some of the fastest growing members of the financial industry but are becoming complacent like wirehouses. Super-RIAs are beginning to reshape the landscape of the industry and might possibly knock some of the large players out of the market. RIAs with roots in the wirehouse model tend to have higher sales. Scaleability will become crucial as price pressure increases and greater competition could lead to lower revenues.
How To Identify & Invest In High-Upside Individuals
Added on October 2013 in Manage Your Practice
1 visitor like this article | Viewed 4693 times | 0 comment
Summary: Staffing, developing and investing in people is perhaps the most challenging aspect of any small business – a challenge that is exacerbated considerably if that small business is a Registered Investment Advisor (RIA). The impact of poor decisions is magnified, and the detrimental impact on margins, income and workload can be significant. This case study will examine how Beacon Pointe Advisors identified and overcame the hurdles we faced, on our way to building a $5.6 billion AUM advisory business (AUM as of 12/31/2012)
Challenges of a Growing Practice: Managing Portfolios
Added on October 2013 in Manage Your Practice
1 visitor like this article | Viewed 5742 times | 0 comment
Summery: Client communication is an issue which is consistently at the top of client surveys. Maintaining regular communication with clients can also help foster trust and it tells them, "My advisor is looking out for me." And if you communicate based on your client segmentation, you’re giving your "A" clients "A" service.
Succession plans are new recruiting tool
Added on February 2012 in Manage Your Practice
0 visitor like this article | Viewed 4667 times | 0 comment
Summary: Advisory firms that lack a documented career development path may jeopardize their chances to recruit the best young talent, according to some industry experts. “The larger firms are getting better at institutionalizing the process of training and development, and can tell a candidate, "Here is what we will teach you and here is the career track at the three-, five-, and 10-year mark,'” said Michael Kitces, a principal with New Planner Recruiting LLC, which specializes in placing early-career planners.
Financial Planning Education 101: 10 Standout Schools
Added on November 2011 in Manage Your Practice
0 visitor like this article | Viewed 4417 times | 0 comment
Summary: The article highlights 10 schools with undergraduated degrees, master's and Ph.D. programs as well as certificate programs in financial planning. The article includes an interesting progression of the financial planning degree and indicates that the future will hold a better defined career path for the financial planner. Advisors of the future are gravitating toward financial planning programs. Here are the schools on many student's short lists.
