Có 20+ tài liệu thuộc chủ đề "financial advisory"
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Operating profit margin. operating profit margin. Revenue per professional. Revenue per staff. Clients per professional. Moss Adams LLP. Clients per staff. Operating profit per professional. Operating profit ÷ no. of professionals = operating profit per professional. Operating profit per staff. of total staff = operating profit per staff. Revenue per client. Gross profit per client. of clients = gross profit...
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Practice Made Perfect. Tibergien and Rebecca Pomering. Now Mark and Rebecca have put many of their ideas into this book.. Practice Made Perfect is outstanding. Their continued advice and this book are priceless.”. Practice made perfect : the discipline of business management for financial advisers / by Mark C
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1 The Financial Advisory Business. S O MANY OWNERS of financial-advisory practices complain that they don’t have the time to do what they enjoy most—work with clients.. not attracting enough of the right type of clients. One of the great ironies of the advisory business is that many of its prac- titioners—even those who do an excellent job of planning...
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However, the market correction at the turn of the century and the modest returns. Many advisers have already reached their capacity in terms of the number of new clients they can add.. One of the most underdeveloped management muscles advisers have is the one for managing and developing staff. And since time is a finite resource in every practice, it’s...
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In the blunder phase, business prospects are looking up. Advisers in this phase come into the office early in the morning and leave late at night, continually operating in crisis mode, perpetually reacting to events around them. They’re seeing an inflow of referrals and an increase in clients, but they lose the ability to pay much attention to either. Although...
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The firm’s strategy has evolved and it has become a more comprehensive wealth-management firm, but this initial strategy was a unique way to differentiate the firm in a very competitive market and helped to launch it successfully.. We find most advisory firms to be generalists. symptoms become more complex and beyond the doctor’s expertise, it’s time to bring in a...
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Whatever your process is, isolate it, document what makes it successful, and train your staff in the protocol.. If your logic is sound, your approach consistent, and your fees are reasonable for what you’re delivering, then make it clear to your prospect or client how you do business. Why do I want to get bogged down in all these steps?”...
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The validity and real value of the client surveys was always suspect to us.. Advisor Impact. The study noted that these results, which peaked after three months, extended for up to twelve months after the survey.. It can be difficult to directly compare the cost of outsourcing the survey process to the cost of doing it in-house, but you’ll typi-....
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Since they’re no longer employees of a parent organization, the notion is that they are, in fact, business owners. What’s the difference?. Whether they’re operating within a large brokerage house or bank or out of a guest bedroom or garage, many people in this business prefer to work alone rather than be part of a team. They’re too big, yet...
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ing, I have time to spend with my kids while they’re young, and I’m able to tend to my clients’ needs.” Surprisingly, when his turn came later in the meeting to present a new initiative, he rolled out a very aggressive marketing program in alliance with a local certified pub- lic accountant and law firm, which was producing great numbers...
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Platform I is indeed completely controlled, and advisers who choose this model become employees of the firm. Petersburg, Florida, is another example of a once-traditional broker-dealer that now crosses all four of the possible platforms with its Adviser Select initiative. In the early 1990s, discount broker Charles Schwab &. Waterhouse Institutional in New York, and DataLynx in Denver have also...
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That makes it essential to define the nature of the job, how success will be measured, and the qualities required to fulfill the job well. A “job” may ultimately be composed of multiple “functions.” Your firm may have. President, CEO, managing partner: Provides strategic concepts, plan- ning, and broad executive management to achieve the firm’s strategic objectives. General manager, COO,...
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By knowing their orientation, you can place them in the right position within your firm—whether it’s a client-service, analytical, compliance, management, or sales position or some other role that you deem critical.. That’s done by defining what’s important to the organiza- tion. To create a culture that embraces this concept, each element must be incorporated into the performance- review process...
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When you consider that the primary reasons to hire staff in the first place is to create better leverage and delegate the work you’re not particularly skilled at or interested in, then employee perceptions about lack of challenge are especially jarring. They have the right people in the right jobs.. It’s also one of the primary drivers of staff satisfaction...
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It’s important to evaluate what moti- vates them—people, data, or things. It’s important to evaluate personality to ensure the candidate fits your benchmark for the position and is compatible with the culture you’re trying to create. But before hiring, you should establish a benchmark of the optimal characteristics for that specific job, a blend that will suit the job, suit...
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mission-based pay is essentially variable base pay. Like fixed base pay, commission-based pay is the amount an individual gets paid for doing his or her job. A bonus or incentive is an amount over and above base pay that should be awarded when the business or individual achieves certain milestones or exceeds expectations. An incentive, on the other hand, links...
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What are the qualities—financial and nonfinancial—the firm is looking for in a partner?. When can the firm afford to add a partner without diluting the income of current partners?. What kind of partners will create value in the organization, as opposed to diluting it?. What is the value of ownership?. Owners of advisory firms should be compensated like any other...
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You’re making an investment of time, money, management, and energy. Do you recommend investments for your clients without understanding how that money will be deployed or how the return should be real- ized? Without a clear understanding of the unique financial dynam- ics of your practice, there is no way to know if you’re doing things right.. We defer to...
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As you’ll see from the discussion on financial analysis in the next chapter, the three financial statements are linked. It’s possible to have cash and no profits, and it’s possible to have profits and no cash. The relationship between the two depends on whether your business is growing or shrinking and whether you’re paying attention to the fundamentals of financial...
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And when you do, you’re more likely to become disabled than to die. Monitor these relationships, and you’ll discover the root cause of most of your practice problems.. Operating Profit Margin. The operating profit margin is calculated by dividing operating profit by total revenue. For example, if your operating profit is $150,000 and your revenues are your operating profit margin...