Advisors spend twice as much time on investment activities than anything else, which means they could be missing out on important opportunities.
As a practice grows, it's harder to make sure that everyone on the team understands what's important to the firm.
Offering employees an ownership stake can give you a valuable tool to attract and retain great people, and it often makes internal succession much easier.
While some advisors choose to sell their practices and retire, others wish to remain for a specific time and work for the new owners.
While the economics have to work for the owners and partners of the firm, they have to make sense for the next-gen advisors, too.
Pruning less than ideal clients can often lead advisors to breakthroughs in growth because they have more time to focus on other activities.
Some advisors experience organic growth even amid challenging markets, realizing that a downturn is a great time to sow seeds for future growth.
As firms increase in size, client referrals represent a declining percentage of new assets, while marketing accounts for a greater percentage.
One way to think positively about the new year is to focus on the activities and actions you can control.
Finding younger advisers to join your firm isn’t easy, but it’s well worth the investment of your time and energy.
