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Ways to value a practice have changed
Too many financial advisers mistakenly rely on past notions of growth to measure the value of their businesses.
Singing an assistant’s praises
This is a first-person, open letter of praise to Pat Fowler, who has been my assistant for 10 years.
Advisers should educate clients’ children
Wealthy clients have children. Wealthy clients die. Children inherit the wealth.
Becoming a thriving enterprise
Financial advisory firms have evolved from home-based businesses, to one-man shows, to full-fledged, thriving enterprises with multiple professionals and sometimes many staff members.
A solution for feeling overwhelmed
Eric, a successful financial adviser with 20 years' experience, felt overwhelmed, frustrated and ineffective.
1031 exchanges yield income, write-offs
The strategy of swapping investment properties is similar to the dreaded Yankee gift swaps, in which everyone buys a holiday present for someone else and then, in a lottery style face off, swaps it for something more desirable.
Taking adviser firms’ finances seriously
The quality of financial information at small financial advisory businesses is generally poor.
Leveraging your best clients
The lifeblood of a healthy and growing financial services practice is the acquisition of wealthy households.
True wealth realized by pursuing passions
Building wealth beyond dollars for clients is more challenging and gratifying than peppering their holdings with the latest hot stock pick or designing a soundly diversified portfolio.
Leveraging clients to get new ones
To do that, ask for referrals with confidence and be sure to customize the approach to each client.
Your disaster plan should exceed reg basics
Since 9/11, disaster recovery has taken on new meaning for the financial services industry.
How to prepare for NASD arbitration
One of the most useful ways for the registered representative to envision the [arbitration] process is to realize that it is a marathon and not a sprint.
Identify six priorities to work through
In the column that ran in the Oct. 29 issue, I discussed our blueprinting process, a series of exercises designed to help you uncover what will make your heart sing. It is Step 1 along a fourfold path to the $10 million secret.
From dorm room cold calls to $10M a year
I generate $10 million a year from recurring fee revenue, but my start in the investment business was spartan: From the cozy confines of my college dorm room, I cold-called people out of a phone book.
Advisers carve out their own territory
Seven years ago, certified financial planner Andi Y.H. Kang assumed the care of her brother, who is deaf, autistic and suffers from seizures.
A 30-minute hiring solution
Most hiring decisions are made in less time than it takes for a red traffic light to turn green.
A different way to snare clients
Sometimes, the best way for a financial adviser to get ahead is by taking a page from the past.
Business exit strategy planning
Financial advisers who fail to help business owners plan for the liquidation of their companies are leaving a growth niche untapped.
The 3 determinants of practice value
Taking a close look at cash flow quality, marketplace demand and transition risk After 19 years in an emergency room, Joe Hollen is an expert in assessing what’s critical and taking care of those things first.
The power of a business plan
Most financial advisers know that having a business plan would help them stay on target and increase their…
